Marlborough Fund Managers is planning to merge its underperforming £24 million UK Income & Growth trust into its £14 million Extra Income fund on 17 January.
Following the merger, the Marlborough Extra Income Fund will continue to be managed by Nigel Beidas and Matthew Rainbird, who have co-managed the fund for nearly five years.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Managed by Geoff Hitchin and Nicholas Cooling, UK Income & Growth trust was recently moved to the IMA Unclassified sector in July after failing to meet the IMA’s minimum yield requirements for UK Equity Income funds.
Both Hitchin and Cooling will continue with the firm, managing other funds including the Global Bond and Bond Income portfolios.
UK Income & Growth trust has returned 12.4% over the three years to 13 December, below the average return of 34.1% for its former peer group, the UK Equity Income sector.
Additionally, the fund has also delivered a return of 56.6% compared to the 96.2% delivered by the IMA UK Equity Income sector, which the fund sat in until July this year, according to data from FE Analytics.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe sources reported that the two funds have a similar risk profile and both have an investment strategy focused on income combined with the potential for capital growth.
