Woodford Equity Income kicked out of IA sector

The Investment Association requires funds to deliver a higher income than the FTSE All Share over rolling three-year periods to be included in the UK Equity Income sector. Woodford Equity Income has not achieved this, yielding 3.5% against the 3.6% average of the FTSE All Share, and is therefore moving to the UK All Companies sector. The £6.7bn fund has had a torrid time of late, on the back of a series of setbacks for holdings including AstraZeneca and Provident Financial, prompting the manager to apologise to shareholders in September. Over three years to 21 March, the Equity Inc...