In this article, we highlight some of the most bought and sold equity income funds of 2025. In the process we reveal which strategies and managers proved popular with investors and which may be falling out of favour.
Hopefully, this exercise throws up some ideas for readers. Credit goes to Trustnet for running the market movements data for OEICs and unit trusts from FE Analytics.
Artemis in demand
Falling interest rates, driven by central bank cuts, reduce returns on cash savings. During such periods, equity income funds come into favour they bring exposure to portfolios of cash-generative, dividend-paying stocks.
Among the global equity income funds attracting the most money last year were Artemis Global Income (B5ZX1M7), Sarasin Global Dividend (BGDF8C1) and Invesco Global Equity Income (B8N4606). Money also flowed into portfolios such as Vanguard Global Equity Income (BZ82ZW9) and Fidelity Global Dividend (B7GJPN7).
Attracting the greatest inflows in the IA Global Equity Income sector was the Morningstar 5-star rated Artemis Global Income. This fund grew from £1.6bn in 2024 to £4.2bn in 2025, boosted by more than £1.6n in net new money from investors and almost £1bn in performance gains.
Co-managers Jacob de Tusch-Lec and James Davidson have delivered top-quartile returns over one, three, five and 10 years. Over the last five years, the fund has gained a sector-leading 171.3% compared with the average return of 62.8%.
The managers pursue a contrarian approach, meaning they are not looking for the ‘usual suspects’. The fund has a strong bias towards attractively-valued stocks often not held by similar funds.
Davidson and de Tusch-Lec and James Davidson look for companies they believe can consistently generate high levels of cash. From this, they look for businesses which pay reliable dividends.
Top 10 holdings as at 31 December 2025 spanned everything from Samsung Electronics and Siemens Energy to General Motors (GM:NYSE) and Deutsche Bank.
Growth and income
Sarasin Global Dividend attracted the thick end of £190m in new money from dividend-hungry investors. The fund targets long-term growth as well as an income premium of 15% to its benchmark of global stocks.
Managers Nikki Martin and Tom Wildgoose look for companies which generate strong returns on invested capital and convert those into distributable cash flow.
Admittedly, this fund has lagged the IA Global Equity Income sector on a five-year view, but it is packed with high-quality names. Almost 60% is invested in North American equities including Microsoft (MSFT:NASDAQ), Nvidia (NVDA:NASDAQ), Alphabet (GOOG:NASDAQ) and Medtronic (MDT:NYSE).
Cash generative consumer staples in the portfolio include Colgate Palmolive (CL:NYSE) and Kimberly-Clark (KMB:NASDAQ). Meanwhile, investors are also buying exposure to European holdings including L’Oreal and Koninklike Ahold Delhaize.
UK specialists
Turning to the IA UK Equity Income sector, FE Analytics data shows only two funds attracted inflows north of £100m in 2025. One was a passive fund, the other actively managed.
The latter was tracker Vanguard FTSE UK Equity Income Index (B59G4H8), which saw over £190 million in net inflows.
The former was TM Redwheel UK Equity Income (BG34129), another adorned with a 5-star rating from Morningstar, which increased assets to £1.3bn. Growth was driven by almost £360m in investor inflows and supported by £230m in performance gains.
Managers Ian Lance and Nick Purves, who also steer investment trust Temple Bar (TMPL), look to buy quality businesses at meaningful discounts. This open-ended fund is ranked first quartile over one, three and five years.
In the doghouse
One of the most-sold global funds was IFSL Evenlode Global Income (BF1QMV6), which shrank from £1.6bn to £1.4bn. This income vehicle’s £14m in performance gains were offset by £183m in investor withdrawals.
Managed by Ben Peters and Chris Elliott, the fund is flush with quality picks including from LVMH to Unilever (ULVR). However, it has struggled relative to peers and is now ranked fourth-quartile over one, three and five years.
Most bought and sold IA Global Equity Income Funds in 2025
| Fund | Size 1 Year Ago | Size Now | Net Flows |
| Artemis Global Income | £1.6bn | £4.22bn | £1.64bn |
| Sarasin Global Dividend | £262m | £502m | £189m |
| HL Global Equity Income | £252m | £441m | £158m |
| BNY Mellon Global Income | £3.3bn | £3.3bn | -£364m |
| BG Global Income & Growth | £569m | £359m | -£213m |
| IFSL Evenlode Global Income | £1.63bn | £1.43bn | -£183m |
Source: FE Analystics, via Trustnet.com
Most bought and sold IA UK Equity Income Funds in 2025
| Fund | Size 1 Year Ago | Size Now | Net Flows |
| TM Redwheel UK Equity Income | £736m | £1.32bn | £358m |
| Vanguard FTSE UK Equity Income Index | £1.25bn | £1.83bn | £192m |
Source: FE Analystics, via Trustnet.com
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