How Royal Mail and Reach drove Courtiers to the top of UK equity income

Courtiers’ £25m UK Equity Income fund is currently the peer group top performer over the past year. The fund has returned just shy of 70% compared with a sector average of 36%. I spoke with Gary Reynolds, who runs the strategy with his son Jake. He noted that bets on publisher Reach and Royal Mail were a driving force in recent performance, after selling both positions at a significant gain. In this episode we also speak about the fund manager’s approach to impending inflation, and how he makes his portfolio ESG compatible, despite having ‘sin stock’ names in the portfolio.