SLET : Decent returns from Standard Life Equity Income
Over the year to the end of September 2014 Standard Life Equity Income managed to beat its benchmark index delivering a total return on net assets of 6.9% and a return to shareholders of 6.3% vs. a 6.1% return on the FTSE All-Share Index.
The dividend for the year totalled 14p, up 4.5% on the previous year and paid from revenue of 15.69p.
The manager’s report mentions holdings in Close Brothers, Beazley, Safestyle, Tyman and Howden Joinery as contributors to the company’s outperformance. Relative to the FTSE All-Share Index, not holding Shire and Astra Zeneca held back performance as these were both takeover targets during the period. Holdings in Petrofac and International Personal Finance also held the fund back.