Over the last few years equity income funds have found it increasingly difficult to keep up with the...
Over the last few years equity income funds have found it increasingly difficult to keep up with the FTSE All Share Index as the market has placed greater emphasis on growth than on value or yield. This trend has gained momentum recently and, for many companies outside a select group of large technology stocks, it has been a trying period. Trading conditions have been difficult given the strength of sterling and rising interest rates but it is the harsh de-rating of their earnings which has left so many shares trading well below their previous highs. Supposedly defensive consumer stocks...
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