Standard Life Equity Income, managed by Thomas Moore (pictured), has released its interim results covering the six months ended 31 March 2014. The fund did well over that period as the net asset value total return of 11.1% was well ahead of the 4.8% return on the benchmark, the FTSE All Share Index. The return to shareholders matched the NAV return. The first two interim dividends have been maintained at 3.2p.
More of the portfolio has been invested in mid cap. stocks and the weighting to this area of the market now exceeds the weighting to FTSE 100 stocks. The manager highlights the contribution from the holding in easyjet to outperformance as well as the holdings in construction related stocks – Tyman and Howden Joinery.