Half of UK equity income funds 'breaking rules'

More than 50% of the 87 Equity Income funds are failing to comply with one of the rules to be included in the sector, says the independent equities fund management group. On 7 August, less than half of the funds were achieving the target yield of 110% of the FTSE All-Share yield set by the IMA, according to Trustnet and www.fundfact.com. The IMA has taken some good initial steps to try and level the playing field, Liontrust says, including the introduction of a single method by which funds calculate their historic yield. Crucially, if the UK equity income funds do not aim to provide...