Poor income backdrop

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James Thorneley Murray Equity Income's performance has been improved after the Oeic's manager broade...

James Thorneley Murray Equity Income's performance has been improved after the Oeic's manager broadened out the investment universe. The £59.2m Oeic is managed by Brian Gallagher who joined Murray Johnstone in July 1999. Until then the portfolio was purely invested in FTSE 350 equities. Now the portfolio has a wider mix of paper from corporate and government debt, providing income to shares in technology companies, which pay out no dividends. Gallagher aims to achieve a yield target of 25% above the FTSE All-Share index. The change has had a positive effect on the performance of the fund...

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