Before 2007, this fund outperformed the index in 8 years out of 9, remarkable consistency under the guidance of manager Tony Nutt.  2007 was an exceptional year where the fund (along with most of its peers) underperformed the index.  The fund of a manager of this quality should be bought when it is at a low ebb. 

This medium risk equity income fund is a core holding for those looking for income or growth.  

To produce a high income, increasing at least in line with inflation, from a managed portfolio chiefly invested in UK equities and fixed interest stocks, although it may have some overseas exposure. The Manager aims to outperform the FTSE All-Share but also seeks to produce absolute returns and beat cash.