Liontrust to alter equity income fund

Liontrust directors William Pattisson and Jeremy Lang have created a standalone investment process for the group's First Income unit trust, writes Ruth Alexander. The process, called Income from Equities, aims to deliver a fund total return higher than that of the FTSE All-Share over five years. At the same time it is designed to provide a portfolio yield above that of index linked gilts and with an income stream that will grow above the rate of inflation over five years. The £16m portfolio will invest in the All-Share and focus on three types of stock: those with limited growth prospects...