"UK companies could start repaying dividends this year," he said, adding: "For example BP looks set to reinstate its dividend."
The manager holds HSBC and Vodafone in its portfolio, according to Financial Express data.
McLeod-Clarke warns investors that inflation will continue to be a concern in the UK, with rising energy costs among the factors driving it up, but says UK equities offer the potential for high dividend growth.
"There’s scope for the UK market to offer healthy returns. The global economic outlook is more important than the UK's when it comes to equities," he said.
He added: "Eighty per cent of the turnover of the FTSE comes from the rest of the world."
Performance of fund over 5-yrs
Source: Financial Express Analytics
The fund is one of the best performers in its IMA UK Equity Income sector over three and five years, beaten out by sector stars Unicorn UK Income and JOHCM UK Equity Income. Its performance over one year has not been only as strong, but it still offered investors double-digit returns in the period.
A recent study from Financial Express found the majority of the UK Equity Income funds rely heavily on a small number of blue chips, but McLeod-Clarke says the UK market offers no shortage of high-yielding equities with strong capital growth.
The manager holds the usual equity income holdings in his top ten - GlaxoSmithKline for example - but diversifies with more unusual stocks like Burberry.
McLeod-Clarke's comments come ahead of the Alpha Generators roadshow which starts on 25 January. He and his colleague Adam Avigdori will explain why to invest in the UK stockmarket. Investment houses BlackRock, First State, Martin Currie, Neptune and Thames River are teaming up to discuss how to generate Alpha through active investing.