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Majedie unveils soft-close plan for stellar £500m UK Income fund

Majedie unveils soft-close plan for stellar £500m UK Income fund

Investment boutique Majedie has indicated it will close the rapidly expanding UK Income fund at £1.5 billion, after it soared to £500 million since launch at the end of 2011.

The fund has returned 76% since inception in December 2011, compared to 42.8% for the FTSE All-Share Index.

Managed by Citywire Chris Reid (pictured) and Yuri Khodjamirian, it has a high conviction strategy that aims to outperform the FTSE All-Share and deliver an attractive yield.

The firm said the £1.5 billion figure was chosen following a detailed liquidity analysis.

'We know that by staying small we are best placed to perform for our clients over the long term; naturally we’re pleased that the merits of this approach are now becoming more widely accepted,' Rob Harris, chief executive of Majedie, said in a statement.


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Chris Reid
Chris Reid
3/92 in Equity - UK Equity Income (Performance over 1 year) Average Total Return: 16.20%
Yuri Khodjamirian
Yuri Khodjamirian
2/98 in Equity - UK Equity Income (Performance over 3 months) Average Total Return: 3.23%
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