Neptune to merge income funds

The merger is on the back of increased interest in the larger £195m Neptune Income fund, which subsequently moved to quarterly distribution at the start of this year in response to client demand, chief executive Robin Geffen explained. Both funds are managed by Geffen with Storm Uru, George Boyd-Bowman and James O'Connor as assistant managers. The two mandates also both sit in the IA UK Equity Income sector and are benchmarked against the FTSE All-Share. The funds share the objective of targeting a rising level of income with the potential for some capital growth by investing mainly i...