Neil Woodford, the former Invesco Perpetual star manager, must surely get some credit for this, as he delivered stellar returns to investors through his original fund and continues to do so with his own Woodford Investment Management operation.

If anyone was worried the influx of multi-asset income funds into the market would take some of the attention away from equity income products, these concerns have so far been unfounded.

In its annual asset management survey, the Investment Association (IA) reports overall equity funds were the most favoured asset class of 2014-15, with equity income experiencing a “seven-month run as bestseller” between June and December 2014. In fact, during the year, equity income attracted 40 per cent of new flows, or £7.8bn.

The trade body’s UK Equity Income sector was the strongest sector, with net retail sales soaring to £6.3bn last year, up from £1.7bn in 2013. It reveals sales for UK Equity Income last year were greater than the combined totals of all the other equity sectors, which is no mean feat.

The IA comments: “This partly reflects concentrated investment in some new fund launches but primarily appears to be a response to the ongoing search for income from investors.”

Global Equity Income was the best-selling equity sector in 2013 but fell to third best-selling equity sector in 2014, according to the IA. Perhaps macroeconomic concerns caused investors to turn their attention away from global stocks and towards the domestic market.

But a global approach to digging deep for income could be the way to go, as Henderson Global Investors’ head of global equity income, Alex Crooke, pointed out on publication of its Global Dividend Index in August.

“The US remains the undisputed engine of global dividend growth, but there are positive developments in many parts of the world, with Europe and Japan in particular doing increasingly well. The European economy is improving, whilst higher payout ratios from a historically low base are a key driving force in Japan and elsewhere,” says Mr Crooke. “This means a dividend-paying culture is extending into new markets, beyond those where paying an income to equity investors is already deeply entrenched, highlighting the increasing income opportunities available to investors who adopt a global approach.”

During the rest of 2015 and into 2016, it remains to be seen where UK investors do decide to go in their hunt for equity income, but there is little evidence that their love affair with the asset class is abating.

Ellie Duncan is deputy features editor at Investment Adviser