The Rathbone Income fund has been awarded AA status by Standard & Poor's for the first time. The p...
The Rathbone Income fund has been awarded AA status by Standard & Poor's for the first time.
The portfolio, managed by Carl Stick, had been placed under review after Stick took over Rathbone Special Situations following the departure of Patrick Evershed to New Star in February.
Concerned Stick might be overstretched in running four funds, S&P placed the Income, Smaller Companies, Income & Growth and Special Situations funds under review.
In the meantime, management of Income & Growth passed to Rathbones' chief investment officer, Julian Chillingworth, lightening the load on Stick.
While Income was upgraded by the ratings agency, both Income & Growth and Special Situations retained their AA ratings and Smaller Companies held on to its A status.
David Holloway, marketing manager at Rathbones, said the £70m Income fund will be the main thrust of the group's Isa push in the coming year.
Rathbone Income's performance is second only to Bill Mott's Credit Suisse Income fund over the three years to 2 December, out of 75 funds in the UK Equity Income sector. It is one of only nine funds to have posted a positive return over this period.
Over three years, Rathbone Income posted growth of 13.8%, on an offer-to-bid basis, compared to a sector average fall of 20.2%.
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60+ £300bn ISA savings
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