Geffen-guided Neptune Income Fund outperformed sector peers in the past six months, says latest Sanlam study
Thursday 15 Aug 2019 Author: James Crux

According to Sanlam UK’s half-yearly Income Study, the Robin Geffen-run Neptune Income Fund (B8JCR45) was the best all-rounder within the UK equity income sector over the past six months.

The latest study was dominated by domestic uncertainties related to Brexit and amid much turbulence, more than half of the funds that made the so-called ‘White List’ last year have been replaced.

A quantitative assessment that reviews the performance of all UK equity income funds over a six month period, Sanlam’s UK income Study has been running for more than 30 years.

It categorises funds into a White List, an elite band of collectives that have established their ability over five years to produce superior total returns, as well as a Grey List, either a temporary home for a manager with an out-of-favour style or an early warning signal for a fund in decline. Then there’s the dreaded Black List for consistent underperformers.

Neptune Income is at the top of the July 2019 Study having outperformed all its peers during a particularly volatile period for global stock markets. The portfolio returned 5.6% over the year to 30 June 2019, during which most funds struggled to eke out positive results, and moved up 25 places in the list of 62 eligible funds from the whole UK Equity Income sector.

Hot on its heels was the Henry Dixon-managed Man GLG UK Income (B0117C2), which rose from seventh to second spot. Yet again, LF Miton UK Multi Cap Income (B3SRD71) appeared in third place, having retained its long run in the top three. ‘Run by Gervais Williams and Martin Turner, the fund boasts strong long-term performance and exceptionally low volatility, despite being invested in the small and mid-cap space’, said Sanlam UK.

The Black List showed more consistency than the other sections of the study. Although several funds make new appearances, the majority are familiar names including Unicorn UK Income (B9XQFY6) and HSBC Income (B8FJ159)

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