Earlier this year, Barnett’s £13bn High Income Fund was ousted from the same IMA category and moved to the IMA UK All Companies sector.
The £7.2bn Income Fund and £439m UK Strategic Income Fund are to exit the IMA UK Equity Income sector in the next few days.
“We are comfortable that these funds will have a different IMA classification and our clients and their advisers can be confident that this sector change will not impact the way their investments are managed,” Ian Trevers, head of UK retail, said.
"The long-term balance between income generation and capital growth is the hallmark of successful equity income investing. We believe that the interests of clients in these particular funds are best served by us continuing to focus on providing a growing level of income, balanced with the opportunity for capital growth over the long term.”
