Fulcrum Income Fund (INC LUX)

An unconstrained portfolio targeting an enhanced monthly income yield regardless of underlying market conditions.


income target of uk base rate +
income paid

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Key Literature


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Fund Brochure

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Investment Universe


Fixed Income



Diversifying Strategies


Key Differentiators

  • Income: Fund is meeting a specific investor need with a well targeted portfolio structure
  • Quality and Stability of Team: we are an experienced and stable team that has worked together for nearly two decades
  • Repeatable Process: we follow a robust and dynamic investment process that is not reliant on luck
  • Performance Focus: we have delivered strong risk-adjusted returns with a low correlation to equities
  • Portfolio Breadth: our approach is highly diversified across strategies, time horizons, asset classes and geographies
  • Effective Risk Management: our risk-management process seeks to deliver return asymmetry
  • Culture of Excellence: we are at the knowledge frontier in all areas that impact our investment strategies

Investment Philosophy

While many investors have historically generated their income from traditional long only balanced portfolios, there is a move to funds looking to generate income from a much more diversified asset base. The Income Fund generates part of its income from bond coupons and equity dividends with the balance being generated through option premia. We have nearly two decades of experience of in such strategies and the Fund has navigated the past periods of volatility with particular attention to avoiding the obvious risks.

Responsible Investment

We strive to integrate responsible investing wherever it is possible to make a meaningful difference. In the case of this fund, this naturally leads us to our equity investments, a significant portion of which are in climate-aligned companies. Tackling climate change is a strategic focus for our firm and we leverage our growing capability in this area, including responsible stewardship and direct engagement with the companies we own as well as indirect, collaborative engagement through industry groups.



Leveraging Fulcrum Capabilites

Our investment approach is rooted in academic rigour and analytical tenacity.


Macro &

Three Gears

Risk Premia



Connection to web




The Team

Fulcrum’s Senior Investment Team is responsible for setting the investment strategy and they are supported by a team of economists, strategists and analysts who regularly assess the economic environment, market valuations, behavioural biases and the political landscape.

Stephen Crewe
Portfolio Manager
Stephen Crewe
Portfolio Manager

Stephen Crewe joined Fulcrum in 2013. He is the lead portfolio manager for our Fulcrum Income Fund and Fulcrum Equity Dispersion Fund, in addition to being an integral member of the broader investment team, where his focus is on volatility strategies. Prior to joining Fulcrum, Stephen spent over two decades with F&C/BMO as Director of Alternatives.

Nabeel Abdoula
Economic Advisor
Nabeel Abdoula
Economic Advisor

Nabeel is an Economic Advisor at Fulcrum. Prior to joining the firm in 2011 Nabeel worked at Goldman Sachs for four years in the Investment Strategy Group. Nabeel graduated from Warwick University in 2007 with a BSc in Mathematics, Operational Research, Statistics and Economics. He has been a CFA charterholder since 2011.

Contact Us

If you have any questions, do contact us and we would be happy to have a chat.