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Rathbone Income Fund


01/02/1971 00:00:00Rathbone Brothers PlcRathbone Brothers PlcEquity funds
  • Around 40-50 of mainly UK shares
  • Investment process that seeks best value
  • Not beholden to a benchmark
  • The fund has a spread of various company sizes and types
  • Half-yearly distribution of income
  • Targets an above-average and rising dividend.

Why invest

  • Record of rising total income payouts in all but one of the past 10 years
  • Yield is higher than that of the FTSE All-Share index
  • Continuity and consistency of returns - Carl Stick, fund manager since January 2000.

Notes on downloads

  • Our compliance with the UK stewardship code is written in this pdf.
  • The details on our fund charges and fees can be found in 'our charges explained'. These have been designed for you to use with your clients.
  • Our industry trade body in the UK, The Investment Association (IA), offers additional guidance on the charges and costs of investing. Please visit the IA website.

How to invest

Visit our ‘how to invest’ pages to find out your various options for buying the fund. This includes information about your contacts within Rathbones and a list of our fund partners.

Money observer rated funds award 2017

6th February 2017 in Awards

The Rathbone Ethical Bond Fund and Rathbone Global Opportunities at Rathbone Unit Trust Management Ltd has been elected into the Money Observer list of rated funds.  Following the successes of 2016 and 2015, the funds rated by Money Observer ar...

The Rathbone Income Fund and the UK Equity Income sector

20th March 2017 in Company news

You will be aware that the Rathbone Income Fund resides in the Investment Association (IA)’s UK All Companies sector having moved last year from the UK Equity Income sector. You may also have read a note issued by the IA on 9 March and some resultant...

Fund manager of the year 2017 - finalists revealed

8th May 2017 in Awards

The Rathbone Ethical Bond Fund (in the IA Sterling Corporate Bond sector) and Rathbone Income Fund (in the IA UK Equity Income sector) have been shortlisted at the forthcoming Investment Week Fund Manager of The Year Awards 2017.  The awards wil...

Rathbone Income Fund

5th October 2017 in Webcasts

Please join Fund Manager Carl Stick on Thursday 12th October at 11am for our live webcast. Carl will review performance over what has been a challenging summer, and will look ahead at prospects for the fund as we approach the end of the year....

Christmas dealing notice 2017/18

15th November 2017 in Company news

Business days and trading hours over the Christmas and New Year period 2017/18

Rathbone Income Fund

8th January 2018 in Webcasts

Please join Fund Manager Carl Stick on Wednesday the 24th January at 11am for our live webcast. Carl will review performance of the Rathbone Income Fund in 2017. He will also discuss the strategy and positioning of the fund looking ahead into 201...

  • 1How do I obtain a managers report?
    The managers report and a host of other fund information is available at this website, and you can contact us for further information on the following number: Information Line: 020 7399 0399 or email:
  • 2Where can I find the latest Ongoing Charges Figure (OCF) for the fund?
    This can be found in the latest managers report and fund factsheet which is available at this website, and you can contact us for further information on the following number: Information Line: 020 7399 0399 or email:
  • 3In which daily national newspapers can I find the fund prices and income yield?

    These can be found in The Financial Times.  It should be noted that we only publish R class prices, and not I class.

    We decided to remove the prices of our funds from the Daily Telegraph newspaper from the 1st July 2014. This decision has been taken as we endeavour to contain and reduce costs on the funds and takes into account that prices are now available on various websites including our own and in other durable media and also by calling our administration office. We are also mindful of the current relevance of the prices we put in the paper – these will not necessarily reflect the price your client will get by dealing through you.

  • 4How is the fund manager remunerated?

    We now organise remuneration on the basis that we need to align our interests with those of our clients. They key to this is ensuring the business and the investment managers have a stake in the future success of the company. For the front office this means ensuring that they are delivering excellent performance over time, with clear accountability. As a result, the remuneration for front office is aligned with that of the client.  The majority of bonuses are calculated on 1-3 years performance, with an emphasis on 3 rolling years.  Two-thirds of bonuses are deferred and a minimum of 50% are be re-invested in the unit trusts. This ensures that the company does not take undue risk to with investors money and that there is a focus on the strength of our investment proposition.

    We would be more than happy to discuss the detail of the remuneration scheme with you, so that you can understand the drivers behind its construct.


  • 5How is stock/sector/country/currency risk controlled and monitored?
    The fund is monitored daily with accountability to the CIO and the RUTM Board of Directors.  The trades executed by the manager are scrutinised on a weekly basis during a formal investment meeting.  The compliance department monitors the funds overall exposure to an individual security as a percentage of issued share capital and that each scheme complies with its investment powers.
  • 6What is the dealing cut-off time for investments and redemptions? What are standard settlement terms?
    The dealing cut-off is 12:00 (midday). The contract note is despatched within 24 hours and settled in ‘T+4’ working days.
  • 7What dealing processes are available?
    Deals can be actioned are by telephone, fax, in writing or by EMX. ISA applications should be made by post using an ISA application form.
  • 8What is the frequency of reporting?
    We produce monthly factsheets, monthly commentaries and 6-monthly fund manager (fund accounting) reports – all of which are available on this website. We also send portfolio valuations, to both you and your clients, every six months dated 31 December and 30 June.
  • 9On what fund platforms can the fund be bought?
    The fund is available for investment on all major and the majority of smaller platforms. For a sample list, please visit the ‘our fund partners’ page on this website.
  • 10Who is the manager of the fund and when was he/she appointed to the lead role for this fund?
    Carl Stick, the fund manager was appointed as lead manager in January 2000.
  • 11What are the income distribution dates for the fund?
    The income distribution dates are 15 June and 15 December.  The latest dividends and historic payments are published on the fund factsheet.
  • 12Who will manage the fund in the absence of the lead manager?
    Julian Chillingworth, Chief Investment Officer
  • 13What additional responsibilities does the lead manager have?
    Carl Stick is a Board Director of Rathbone Unit Trust Management Limited.
  • 14Are there any mandate-specific primary or secondary performance benchmarks?
    We do not operate formal benchmarks but we do compare the performance of the fund informally against the peer group (IA UK Equity Income sector) and the FTSE All-Share index.  Portfolio construction is not influenced by index weightings.
  • 15What restrictions apply to the fund at stock and sector level?
    There are no specific weighting restrictions on the fund, but if we decide to invest in a business, we do so in a meaningful way.  However, the portfolio carries a small and mid-cap bias and tends not invest more than 4% in any individual stock.  The notional limit is 5%. 
  • 16Where can I find the yield for the fund?

    The month-end yield can be found on our monthly factsheets – available on this website or by calling our Information Line on 020 7399 0399 or emailing Daily yields are shown in the prices section of The Financial Times.


  • 17Can the fund form part of an ISA and/or a SIPP?
    Yes (available for retail unitholders only).
  • 18What is the minimum investment size?

    The investment limits vary for retail and institutional investors.

    R Class: The minimum lump sum investment is £1000.00 (£500 for additional investments).

    From 31 December 2012 we ceased to offer a regular savings plan (including ISAs). We will continue to accept payments to savings plans that have been opened prior to this date; however, we are not able to accept any increases in monthly subscriptions.

    View the ISA information for further details on subscription limits for the current tax year. 

    I Class: The minimum lump sum investment is £1000.00 (£500 for additional investments). .

    A regular monthly savings plan is not available

  • 19What charges apply for this fund?

    The charges differ for retail and institutional investors. For more information please see the [“Charges”] section of the fund’s key investor information document (KIID).

  • 20How do I make a complaint?

    Unitholders (or shareholders) who have any queries or complaints about the operation of the fund should address them to the Compliance Officer, Rathbone Unit Trust Management Limited, 8 Finsbury Circus, London, EC2M 7AZ. Any complaint we receive will be handled in accordance with our internal complaint procedures. A copy of these is available from the Compliance Officer. In the unlikely event that you do not receive a satisfactory response after contacting ourselves you may direct your complaint to the Financial Ombudsman Service at Exchange Tower, London E14 9SR. Further details about the Financial Ombudsman Service are available on their website at