UK - Isis Asset Management's stewardship income fund was one of only two UK equity funds to post a positive return in the year to the end of June.
The other company to achieve a positive return – according to research from analyst company Lipper – was the Marlborough UK Equity Income Fund.
The Isis fund finished second in the 12-month period to June 30 out of a group of 83 funds, beating more than 97% of the competition.
The small-to-mid-cap based fund is managed by Ted Scott who said difficult market conditions and the ethical screening that prevented him from investing in conventional defensive sectors, such as oil and tobacco companies, had made it a difficult year.
“I’ve dealt with this potential problem by building up an overweight position in utilities, which has obviously done the job.”
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