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Rathbone Income

Elite Rated by FundCalibre

This multi-cap income fund gives investors exposure to a concentrated portfolio of companies with high quality and visible earnings. The manager is unconstrained in terms of sector weightings and is able to fully express his market views with the portfolio positioning.

Company Description

Established in 1999, Rathbone Unit Trust Management is the asset management subsidiary of Rathbone Brothers Plc. It was awarded the Elite Provider for Equities in 2016. Rathbone Brothers Plc is listed on the London Stock Exchange and employs more than 250 investment professionals in a number of offices around the UK.

Factsheet_rathbones_logo_sept_2015

Fund Manager

Carl Stick joined Rathbones in 1996 and has managed this fund since 2000. During this time he has been remarkably consistent, with the fund performing best in gently rising markets. He is well supported by a team of eight investment professionals.

Factsheet_carl_stick

Stick with the long-term dividend winners - ‘buy and hold’ for compound income and capital returns.

Carl Stick - Fund Manager

The Investment Process

Through investing in UK companies with above average yields, Carl aims to deliver rising income with the opportunity for capital upside over time. Carl adheres to an investment process that combines top-down macroeconomic considerations with bottom-up stock picking in order to build a portfolio of 40-50 stocks.

Risk

The focus on companies with high-quality earnings has resulted in the fund having a lower risk profile than the UK stock market. While the manager is unconstrained in terms of sectors, he controls single company risk by limiting positions to 3%.

Our Opinion

This is a solid core income fund run by an extremely experienced and long-standing manager. The process is well defined without being overly constrictive, and the heavy emphasis on risk management is particularly pleasing.

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