How to make 60pc with an income fund As most income funds faced the prospect of dividends being cut or scrapped, AMP Capitalâs Dermot Ryan took the opportunity to buy growth and invest in the future dividend payers. Save Share In a year when dividends were slashed, delayed or scrapped entirely, few would have predicted an income fund would be able to produce a near 60 per cent return. But, despite a fifth of the stocks in its fund scrapping their dividends, AMP Capitalâs Australian Equity Income Generator fund managed to break into the top 10 of the Mercer Investment survey for 2021 by forgoing distributions in favour of capital growth.