Majedie plans closure of UK Income fund at £1.5bn

Majedie has announced that it will close its top-performing UK Income fund when it reaches £1.5bn, following a spate of inflows.

The fund recently passed £500m in assets under management which prompted the business to launch a liquidity analysis of the capacity of the portfolio. Managed by Chris Reid (pictured) and Yuri Khojamirian, the fund was launched in December 2011 and aims to outperform the FTSE All-Share index. It has attracted a lot of attention despite not yet achieving a three-year track record, after outperforming significantly since launch. The fund has returned 27.4% in the last year, according to FE, versus a sector average of 14.7%, and over 70% since launch versus a sector average of 49%. ...