What is the best fund for income growth?
15 July 2024
Question by Boring Money reader
Hi,
What is the best fund for income growth?
Thanks.
Answered by Holly Mackay
Typically we have to choose between income or growth. If income is your focus, you could look at the Investment Association’s so-called ‘Dividend Heroes’ – they highlight investment trusts which have great track records of paying out income and have consistently increased their dividends for 20 or more years in a row. If you prefer funds, I would suggest either a research site such as Morningstar or look at the funds on the Buy lists of platforms such as AJ Bell, Hargreaves Lansdown or interactive investor. Look for equity income funds and – if you want some additional validation - you can sense-check their picks with Morningstar too.