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Majedie hires ex-BlackRock duo Wharrier & Sattar

Majedie has reunited former BlackRock UK equity managers Mark Wharrier and Imran Sattar to replace Chris Reid.

 
Majedie hires ex-BlackRock duo Wharrier & Sattar

Majedie Asset Management has hired former BlackRock UK equities duo Mark Wharrier and Imran Sattar.

The duo will replace Chris Reid, who ran the Majedie UK Income and UK Focus funds. He is leaving the firm after 10 years to pursue a Masters in Finance degree.

Wharrier (pictured) left BlackRock last year to join Troy Asset Management to co-manage the £3.5 billion Trojan Income fund. He will run the £931 million Majedie UK Income  fund, alongside existing manager Yuri Khodjamirian.

Prior to Troy, Wharrier ran the BlackRock UK Income fund with Adam Avigdori and David Goldman - and received a Citywire AA-rated during this time for his risk-adjusted performance.

Meanwhile, Sattar will manage the £874 million Majedie UK Focus fund, alongside existing managers James de Uphaugh, Chris Field and Matthew Smith. He will be responsible for 25% of the portfolio, contributing 10 to 15 best ideas to the overall portfolio.

Sattar joins directly from BlackRock, where he ran the firm's £183.6 million UK Focus fund alongside Luke Chappell. Over the three years to the end of April, the fund has returned 20.8% versus 21.3% by the average fund in the UK equity income sector.

Sattar and Wharrier worked together on BlackRock's UK equities team and worked at Mercury Asset Management prior to that.

Over the past five years, Reid has built an excellent track record with both funds. The Majedie UK Income fund has returned 81.5%, claiming third spot in the UK equity income sector, which compares to 46.2% by the sector average.

Over the same period, the Majedie UK Focus fund is up 74.9% versus 48.4% by the average fund in the UK All Companies sector.

'Mark and Imran’s track records speak for themselves. We have known them both for over 20 years, having worked together on Mercury’s Alpha team, and are very excited to be joining forces once again,' said Majedie's chief executive Rob Harries.

He went on to thank Reid for his 'significant contribution' to the business over the past decade.

 

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