Henderson MM team targets equity income

The Independent Distribution Portfolio has purchased the Mackintosh High Income and Henderson Horizon Asia Dividend Income products. Katy Gladstone, who runs the fund alongside Bill McQuaker, revealed the move had been funded by cash inflows. “We have been investing cash, which is currently around 15pc of the portfolio, and we want to get yields from equities as opposed to bonds as we don’t see the value in them,” she said. Gladstone revealed the fund had taken a small position in the Mackintosh fund, which has NURS status and is run by Glasgow Investment Managers, as it operates i...