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On 01 January 2026 the VT Munro Equity Income Fund changed name from VT Munro Smart-Beta UK Fund. 

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UK Equity Income monthly commentary March 2026

  • Rob Davies
  • Apr 27
  • 1 min read
Green hills and mountains under a vibrant blue sky with wispy white clouds. A serene landscape with a small lake in the valley.


The attack on Iran by the United States on the last day of February, a Saturday, meant that global capital markets started trading in the month of March against a backdrop of strong upwards moves in the oil price but falling equity prices around the world. Oil increased by about 30% in March relative to February and the fall in UK equity indices of mid to high single digits was in line with most markets. Surprisingly, currencies were little changed over the month.


Energy was the standout gainer in the UK market in March gaining nearly a fifth in value. In contrast Real Estate was the worst with a move in the opposite direction of only a little less in percentage terms. All sectors other than Energy recorded negative returns with two others: Consumer Discretionary and Consumer Staples also making losses of double digits.


All the other sectors suffered drops of mid-single digits.

 
 
 

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