As most income funds faced the prospect of dividends being cut or scrapped, AMP Capital’s Dermot Ryan took the opportunity to buy growth and invest in the future dividend payers.
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In a year when dividends were slashed, delayed or scrapped entirely, few would have predicted an income fund would be able to produce a near 60 per cent return.
But, despite a fifth of the stocks in its fund scrapping their dividends, AMP Capital’s Australian Equity Income Generator fund managed to break into the top 10 of the Mercer Investment survey for 2021 by forgoing distributions in favour of capital growth.
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Original URL: https://www.afr.com/markets/equity-markets/how-to-make-60pc-with-an-income-fund-20210423-p57lt1