Reflecting on the Bearbull Income Portfolio’s Performance

As the year comes to a close, it’s time to look back on the performance of the Bearbull income portfolio. Over the past 12 months, the portfolio saw a modest growth of around 8.7 per cent, excluding income distributions. However, when factoring in the income distributions worth 4 per cent following the fund’s re-capitalisation a year ago, the combined return stands at a more impressive 12.7 per cent.

While a double-digit real return is certainly commendable, it’s important to put this performance into context. When compared to the fund’s historic benchmark, the FTSE All-Share, which managed a total return of 12.1 per cent over the same period, the Bearbull income portfolio has outperformed.

For UK-based retail investors, the FTSE All-Share is often seen as the yardstick by which to measure performance. Despite the index’s waning popularity, it still holds a significant place in the daily news cycle, alongside the weather forecast. It’s a familiar reference point for many investors, even if it may not always be the most accurate reflection of market conditions.