Majedie's hidden gem takes on UK income giants

ONE TO WATCH

Majedie Asset Management's UK Income fund was officially launched into the busy UK equity income space at the end of last year, after it was seeded in December 2011.

The fund has built an impressive track record since then, but much of this has gone unnoticed by the market.  The fund has beaten its benchmark FTSE All Share over three months and one year, and has outperformed the sector by a wide margin. With a return of 27.5% over one year to 19 April, the fund is ahead of all but three of its 92 peers in the IMA UK Equity Income sector, where the average return for the period is 17.3%, according to Morningstar. The fund is still small at just £13m, although manager Chris Reid said it will have a limited capacity, in line with the other three f...