Ecclesiastical Higher Income moves to IMA Mixed Investment shares sector

Since the beginning of January, Ecclesiastical Higher Income Fund has moved to the IMA Mixed Investment 40-85% Shares sector. The fund was previously in the UK Equity and Bond Income sector.

The Higher Income Fund now sits in the top quartile of a much larger sector, delivering year on year growth ahead of competitors in the same category, the firm said.

According to Robin Hepworth, chief investment officer at Ecclesiastical Investment Management, this move is designed to support the continuing strong performance and growth of the Higher Income Fund.

“It offers us the ability to take further advantage of increased equity yields overseas, especially in the Far East and Europe, which we see as a key area of growth in 2013 and beyond. This also enables the fund to be in a growing and relevant sector for advisers and investors especially interested in the global economy,” he said.

Hepworth added: “Despite this change the Higher Income Fund still retains the key Ecclesiastical Investment Management house views, having a long-term approach to stock choices, combined with a contrarian outlook. There is no change to the overall asset allocation, with equity and fixed income still serving to stabilise the portfolio and protect capital. We believe the move has come at the right time, with the increased exposure to overseas markets reducing the effects of a weak UK economy on the fund”.



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