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ES Ardevora UK Income Fund successfully merged into the ES River and Mercantile UK Equity Income Fund

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The ES River and Mercantile UK Equity Income Fund (R&M UK Equity Income) has taken receipt of the assets of the GBP6 million ES Ardevora UK Income Fund (ES Ardevora UK Income) as a result of a merger, which was approved by investors of the ES Ardevora UK Income on 31 March 2021. 

Led by portfolio manager Dan Hanbury, R&M’s UK Equity Income strategy is implemented using R&M’s multi-factor PVT (Potential, Valuation, Timing) philosophy. Dan and the team use a blend of quantitative and fundamental research to uncover the most promising investment opportunities, regardless of market conditions. Stocks are assessed for their ability to deliver a sustainable and growing dividend income to clients and which have, in the past, demonstrated strong risk adjusted returns with a significantly lower drawdown than other similar funds in the sector.  
 
R&M UK Equity Income has delivered strong performance since inception, returning 246.9 per cent since launch in February 2009, outperforming the MSCI UK Investable Market Index by more than 50 per cent. Most recently, AUM has increased 18.2 per cent from GBP121 million (end of December 2020) to GBP143 million (end of April 2021) (data according to FE Analytics as at 30 April 2021).
 
Dan Hanbury, Portfolio Manager of the ES R&M UK Equity Income Fund, says: “We are pleased to have completed the merger of ES Ardevora UK Income into R&M UK Equity Income.
 
“It is an exciting time to be running a UK Income Fund and we are now seeing some very encouraging traction for the asset class this year. We have a balanced stock picking approach, with a blend of stocks in the portfolio which are suitable for a range of stock market conditions.
 
“Looking ahead, we continue to identify exciting new trends, sustainable business models and stocks with very depressed valuations in the UK, which we believe is one of the cheapest, most unloved, diverse and international equity markets in the world.”
 
In March 2021, investors in the ES Ardevora UK Income Fund were notified by the funds ACD (Equity Trustees Fund Services) that it was, in their opinion, in the best long-term interests of shareholders of the Fund to merge the Fund with the ES River and Mercantile UK Equity Income Fund, which was selected on a range of factors. Ardevora continues to focus on its UK 150/50, Global 150/50 and Global long-only equity strategies.  
 

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