The fund will remain in the IMA UK Equity Income sector and no additional changes will take place in terms of investment approach or portfolio construction.
Many UK equity income funds are criticised for their lack of diversity, focusing on blue-chip names that are historically reliable dividend payers.
The fund, run by Alan Clifford and Alan Custis, will continue to seek out yield and growth opportunities across the market cap spectrum, take a pragmatic approach to aggregate income rather than income "for its own sake" with the portfolio preferring some stocks for their capital growth potential.
Clifford said: "We believe that taking a Multi-Cap approach to income investing in the UK market can help to overcome the impact of market concentration as well as accessing dividend growth amongst smaller companies, which should lead to an attractive total return for clients."
The £100m fund has returned 40.7% over three years beating the peer group’s 37.2%, according to FE.