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Lowland may be in the name, but lowly in performance it isn’t. Lowland Investment Company (LSE: LWI) “leaves its UK equity income peers trailing in its wake”, says Leonora Walters in Investors Chronicle.

The trust, which has consistently beaten its benchmark in recent years, has delivered a return of 24.7% over one year, 85.4% over three and 325.2% over five years, albeit after some short-term volatility.

Walters puts this down to manager James Henderson’s decision to diversify away from the ‘mega caps’ favoured by his peers, which he believes are in sectors facing long-term decline [...]

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