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Acorn Income Fund (AIF)

Business description

AIF's objective is to provide a high level of income with the opportunity for income growth and capital growth over the life of the company. AIF is geared through a ZDP stock. The portfolio is split into two pools, one (70-80% of assets) is invested in UK small-cap equities, the other is an income portfolio containing sterling fixed-interest instruments, reverse convertibles and high-yielding shares in other investment companies.

Strong performance from equity biased portfolio

Update | Investment Companies | 28/10/2013

Acorn Income Fund (AIF) targets a high level of income and aims to generate both income and capital growth from a mixed portfolio of smaller-cap UK-listed equities, an income portfolio of fixed-interest securities and investments in high-yielding investment companies. AIF has clearly outperformed its benchmark and peer group, over the last four years, which is now reflected in strong demand for its shares. The shares remain appealing for investors who share the managers' positive view on the market and are attracted by a trust where selective small company exposure and gearing (41% net) is leavened by fixed-income holdings that also bolster dividends.

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Stock data

Market cap.£62.2m
Last close393.000p
High / Low (52 weeks)478.0p / 375.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

Price performance

%1m3m12m
Actual(2.96)(7.8)(16.6)
Relative *(1.3)1.1(11)

* % Relative to local index

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