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Standard Life Equity Income - Neutral

INVESTMENT TRUST RESEARCH UPDATE: New Trust rating of Neutral.

Ruli Viljoen 17 December, 2013 | 10:36AM

We have initiated coverage of Standard Life Equity Income (SLET) with a Morningstar Analyst Rating™ of Neutral. Thomas Moore has only been in charge since mid-2011, and the early part of his tenure was shared with Karen Robertson, too. Since May 2012, Moore has taken full control of the fund; he’s using a process that’s tried and tested at the firm. He runs his funds in an unconstrained manner, with an emphasis on total return instead of primarily income. He has also spent much time reshaping the portfolio to move it further down the cap scale and diversify the income sources. We’d like to see this strategy working without the benefit of a tailwind from strong performance in mid-caps, though.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aberdeen Standard Equity Inc Trust Ord381.50 GBX0.39

About Author

Ruli Viljoen

Ruli Viljoen  is Head of Manager Selection, Morningstar UK

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