Edinburgh (EDIN) fund managers Imran Sattar and Emily Barnard are wary of sticky inflation hampering a UK market recovery as the Liontrust duo look to take their equity income trust to a fifth year of outperformance since the board sacked Invesco in late 2019.
Lead manager Sattar and deputy Barnard took over from James de Uphaugh and Chris Field in February, when De Uphaugh retired (Field retired last October). De Uphaugh and Field had steered the UK equity income trust since early 2020, when they replaced former Invesco fund manager Mark Barnett.
Annual results show De Uphaugh and Field oversaw a 13.4% investment return in the 12 months to 31 March, beating the 8.4% return from the FTSE All-Share index and delivering a fourth consecutive year of outperformance. That leaves the £1.1bn investment trust – the latest to claim an ‘all-weather’ performance – third in the Association of Investment Companies’ UK Equity Income sector over five years, with its 53.7% total shareholder return at 28 May comfortably ahead of the All-Share’s 36%.