Edinburgh IT set to dump Invesco's Barnett in favour of Majedie

Follows extended period of underperformance

Mike Sheen
clock • 1 min read

The board of the Edinburgh Investment Trust is set to appoint Majedie Asset Management as its new manager, following continued underperformance of the company under Invesco's Mark Barnett.

Under Majedie, the firm's CIO James de Uphaugh will serve as portfolio manager of the trust, which is looking to overcome more than three years of poor performance as a result of what the board described in a statement this morning as an "out of favour" investment style and stock selection issues.   The agreement will see Majedie receive an annual management fee of 0.48% of the market capitalisation of the trust up to £500m and around 0.47% on amounts above £500m. This represents a significant reduction from the current levels of fees paid to Invesco of 0.55% of market capitalisation....

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Equities

Deep Dive: US equities may not have peaked but do require greater selectivity

Deep Dive: US equities may not have peaked but do require greater selectivity

Amid equity rebalancing

Linus Uhlig
clock 13 June 2025 • 4 min read
Partner Insight: Robeco Emerging Markets Equities strategy - Targeting alpha in a new world of growth

Partner Insight: Robeco Emerging Markets Equities strategy - Targeting alpha in a new world of growth

Jan de Bruijn, Director, Emerging Market Equities, Robeco
clock 06 June 2025 • 5 min read
Nedgroup Investments' Rob Burdett: It is time to move underweight equities

Nedgroup Investments' Rob Burdett: It is time to move underweight equities

Reducing exposure

Rob Burdett
clock 03 June 2025 • 2 min read
Trustpilot