Unconstrained investment in UK equities

Standard Life Equity Income Trust (SLET) aims to generate above-average income and real growth in capital and income from a portfolio of UK equities across the capitalisation spectrum. At end-December 2016, more than 55% of the portfolio was invested outside of the FTSE 100 index. While the last year has seen a tough period of relative investment performance as a result of outperformance of large-cap companies with overseas earnings, which were not held, SLET continues to have a good long-term track record; it has outperformed the benchmark FTSE All-Share index over both five and 10 years. With the exception of one year of static dividends, SLET’s annual dividend has increased every year since launch.