Sanlam Income Study: The winners and losers

The most significant move out of the White List of top performers is Beagles' and James Lowen's £2.7bn JOHCM UK Equity Income fund, which struggled last year due to an overweight to commodities. Beagles' fund was previously ranked fourth in the White List but has dropped to the midway point of the 25-strong Grey List, which includes funds which are out of favour or at risk of long-term decline. It returned 0.7% in 2014, according to Morningstar.  "Despite their accurate forecast of weaker returns for the market through 2014, Beagles and Lowen failed to turn this into successful invest...