SJP Equity Income trust kicked out of IMA sector

IFAonline's sister title Investment Week revealed in December the fund was one of several whose yield had fallen below the IMA's minimum  threshold, putting their place in the sector in jeopardy. Funds must achieve the IMA's basic yield target of 110% of the FTSE All Share yield over a three-year rolling period to remain in the UK Equity Income sector. They must also run an income level of at least 90% of the FTSE All Share yield, on an annual basis. Purves' St James's Place equity income trust undershot the basic yield target in 2010-2011, yielding 3.1% at its year end, while the ...