Jupiter Income has topped Principal Investment Management's annual survey of UK equity income unit ...
Jupiter Income has topped Principal Investment Management's annual survey of UK equity income unit trusts.
The fund, managed by Tony Nutt, has been commended on the back of six consecutive years of outperformance against peers, according to Principal.
Funds are grouped into three lists; white, grey and black, mirroring the broker's buy, hold and sell recommendations. Twelve funds made the white list this year, including relative newcomer HSBC Income.
Along with Jupiter, BWD Equity Income and Liontrust First Income were both highly commended.
Alan Beaney, head of investment at Principal Investment Management, said: 'Particular credit should be given to Jeremy Lang at Liontrust, who in a falling market has produced great performance over 2001, with a positive return of 13.4%.'
Newton Higher Income maintains its place on the white list, despite the loss of fund manager Toby Thompson.
The other recommended funds also include Axa UK Equity Income, Invesco Perpetual Income, Credit Suisse Income and ABN Amro UK Income.
Beaney said: 'Among the 12 white list funds, even the worst performer, ABN Amro's UK Equity Income Fund comfortably beat the FTSE while the best, Liontrust First Income outperformed the FTSE 100 by 35%.
'In our view investors can happily continue to look to this sector for their core equity holdings.'
Former white list member Deutsche UK Equity Income slipped into the grey list following a fall of 10.5% over the last year.
This underperformance, coupled with the departure of Adrian Frost in April 2001, has led to Beaney relegating the fund to the lower category while he assesses the performance of Frost's replacement, Graham Ashby.
Dresdner RCM UK Equity Income and Invesco Perpetual Income & Growth have also slid down into the grey category.
Elsewhere, Pearl Equity & Income and Abbey Dividend & Growth remain firmly rooted in black list territory and are joined by Framlington Extra Income and Henderson UK Equity Income, which both underperformed last year.
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