Latest Insights

Five Funds join Square Mile’s Academy of Funds

Square Mile Investment Consulting & Research has added five new funds to its Academy of Funds. A-ratings have been awarded to:

• Fidelity Multi-Asset Income fund
• Newton Global Dynamic Bond fund

Positive Prospect (P+) ratings have been awarded to:

• BlackRock Global Multi-Asset Income fund
• Schroder Global Multi-Asset Income fund
• Aviva Investors Multi-Strategy Target Return fund

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Change of fund name: Legg Mason Income Optimiser to Legg Mason IF Brandywine Global Income Optimiser 

Legg Mason have changed the name of their Income Optimiser fund to Legg Mason IF Brandywine Global Income Optimiser to bring it in line with the rest of their range, and to better reflect the underling investment manger, Brandywine Global.

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Sustainable Income Ideas

Whilst the search for yield continues, a well-discussed issue by more eloquent observers than myself, we have decided to focus in on a popular home market sector-UK Equity Income. Although yield should be an important deciding factor for income hungry investors, we also believe that an analysis and understanding of the actual monetary amount received, and the growth of that amount, is equally important. Yield may be a good starting point but it will fluctuate based on the fortune, or misfortune, of the underlying asset base. As such we have decided to highlight a number of strategies where we believe there is a focus not only on yield but also on the absolute level and/or the growth of distributions.

Whilst many of these do rely, to varying degrees, on some of the UK's traditional income stalwarts (ten well-known companies have historically provided around half of the market's income) and there is some natural overlap (particularly in the pharmaceutical sector) we would argue that there is generally not an overreliance on these names in these funds. In essence we believe that these portfolios are well placed to meet their objectives, even in a climate of increasing dividend uncertainty.

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