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AXA Framlington Equity Income R Inc

Ranked 99 out of 107 in - UK Equity Income over 12 months
All calculations are in GBP

Managed by

George Luckraft

George Luckraft had an intense spell in the limelight in 2002 following his shock defection to Framlington (now AXA Framlington) with fellow star manager Nigel Thomas after 20 years of impressive performance at ABN Amro (which in a previous incarnation was John Carrington & Co). Through the transfer, Luckraft gained control of the AXA Framlington Equity Income fund, the AXA Framlington Monthly Income fund and the AXA Framlington Managed Income fund. Luckraft has run flexible, multi-cap, “absolute return” funds for many years and aims to deliver a decent level of yield too. Luckraft describes his style as a combination of special situations and equity income investing. The Equity Income fund’s holdings generally fall into three categories: high yielding stocks, lower-yielding stocks offering the prospect of income growth and straightforward capital growth plays. Born in Hong Kong in 1959, he graduated in Land Economy from Cambridge and joined John Carrington in 1980. He has his own pension invested in his funds and is a very keen angler.


To produce a higher than average yield combined with long-term growth of income and capital. Investment is made principally in UK equities and convertible shares of companies which, in the manager's opinion, show above average profitability, management quality and growth.


UK Equity Income over : 31/03/2014 - 31/03/2015

Total Return

Quarterly Performance

to 31/03/2015 Annual Q1 Q2 Q3 Q4
2015 3.7%
2014 1.0% 0.9% 1.0% 0.5% -1.4%
2013 28.3% 9.6% 0.3% 9.8% 6.3%
2012 13.1% 7.2% -1.9% 5.0% 2.3%
2011 -8.1% -0.3% 1.9% -11.7% 2.5%
2010 17.8% 1.3% -4.1% 11.7% 8.5%
2009 33.7% -7.6% 17.7% 23.2% -0.2%
2008 -44.8% -9.5% -8.0% -12.8% -23.9%
2007 -8.7% 2.1% 0.6% -7.6% -3.8%
2006 19.4% 10.5% -3.2% 3.7% 7.6%
2005 24.7% 5.5% 4.9% 8.4% 3.9%
2004 31.3% 7.7% 5.8% 3.5% 11.3%
2003 33.1% -5.6% 18.3% 10.6% 7.7%
2002 -19.8% 1.7% -8.8% -17.9% 5.2%
2001 -15.5% -9.3% 1.6% -16.5% 9.8%
2000 0.6% -0.5% 0.3% 1.9% -1.1%
1999 14.4% 9.2% 3.0% -5.6% 7.8%
1998 7.0% 12.9% -1.6% -13.9% 11.8%
1997 22.9% 3.4% 2.3% 16.0% 0.1%
1996 19.0% 5.2% 1.5% 6.3% 4.9%
1995 1.4%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
HSBC Holdings PLC ORD 5.04
Royal Dutch Shell Plc B ORD 4.78
GBP Cash 3.99
British American Tobacco PLC ORD 3.55
Vodafone Group PLC ORD 3.45
Matchtech Group PLC ORD 2.64
AstraZeneca PLC ORD 2.24
GlaxoSmithKline PLC ORD 2.21
E2V Technologies PLC ORD 2.07

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date07/02/1980
  • Share Class size135Mn
  • Base currencyGBP
  • ISIN GB0003502332

Purchase Info

  • Min. initial investment1,000
  • Min. additional investment50


  • Annual management1.5%
  • Initial investment5.25

Related News

AXA IM to merge George Luckraft's equity income funds

The £129 million AXA Framlington Monthly Income and £132 million UK Equity income funds are being merged to deliver greater economies of scale.  

AXA Framlington names Tinker Asia head in global & UK equity restructure

AXA Framlington has appointed Mark Tinker as head of Asia in a restructure of its global equity business and named deputy managers across its UK fund range.  

Woodford, Stuart and Nutt prosper from Juridica windfall

Invesco Pepertual's Neil Woodford, Atermis' Derek Stuart and Jupiter's Anthony Nutt are among those who have benefitted from a $4.5 windfall for legal investment firm Juridica.

Tom Winnifrith's outfit to launch growth and income fund Limited, the investment, share trading and media group behind one of the best performing small cap funds of the past three years, is to launch a growth and income fund next week.

Principal brands Jupiter Income a sell and Schroder Income demoted

Principal's latest update reveals its ones to buy and ones to sell in the UK equity income sector

Framlington Innovative Growth offers two-way bet on Luckraft revival

For those thinking of investing in Axa Framlington's George Luckraft again the Framlington Innovative Growth trust could offer a unique two-way bet.

Luckraft backs oil majors but fears for Vodafone divi

AXA Framlington UK Equity Income manager George Luckraft is continuing to back the oil majors and explains why pharma and tobacco stocks will deliver this year.

Is George Luckraft back?

After poor performance during the credit crunch, AXA Framlington’s George Luckraft is back at the top of the peer group. Can he keep his place there?

Schroders takes top three spots in equity income sector

Schroder fund managers have managed the market turbulence over the last 12 months exceptionally well, with the group taking the top three spots in the performance tables over the period.     

AXA Framlington CEO Robert Kyprianou to step down

AXA Framlington chief executive, Robert Kyprianou, is retiring from the industry and will be replaced by former Goldman Sachs man Mark Beveridge.


Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in GBP).