Bestinvest says
We have higher conviction in other funds in the IMA UK Equity Income sector.
The fund's objective is to achieve above average and maintainable income, without neglecting capital security and growth, predominantly through investing in UK equities. The process starts with macroeconomic research to identify themes likely to influence the market going forward. The team then look at industries to see which will benefit or be harmed by these themes, before undertaking stock specific research. The manager typically targets companies with strong market positions and high barriers to entry, believing they will generate high and sustainable returns on capital. He also likes experienced, conservative management teams, particularly those that invest in their companies. He prefers companies with well covered dividend yields, and those whose balance sheets do not rely on leverage.