UK Equity Income Bulletin

James Lowen and Clive Beagles review their fund’s performance in May, a month which saw the recovery in global stock markets continue.

  • James Lowen
  • Clive Beagles
31 May 2020
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  • Reported economic activity reflected the severe impact of the effective lockdown across most developed economies. 
  • The Fund significantly underperformed in the first half of the month, primarily because our portfolio voids (AstraZeneca et al.) continued to be very strong versus the market. 
  • We added two new stocks to the Fund during the month and materially increased a third – National Express, Keller and Costain respectively.


Past performance is no guarantee of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. The information contained herein including any expression of opinion is for information purposes only and is given on the understanding that it is not a recommendation. The Fund’s investment include shares in small-cap companies and these tend to be traded less frequently and in lower volumes than larger companies making them potentially less liquid and more volatile.

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