The Majedie UK Income Fund has been removed from the Wealth 150. This is because Chris Reid will step down as lead manager and leave the company at the end of June 2018.
Chris Field will take over lead management of the fund, alongside existing co-manager Yuri Khodjamirian, until November 2018. He currently co-manages the Majedie UK Equity Fund, which is on the Wealth 150. We believe he'll do a good job of looking after the fund.
In November, Mark Wharrier will join Majedie and become the fund's lead manager. He has a lot of experience working on equity income funds. Most recently he's been part of the UK Income team at Troy Asset Management. Prior to that he was lead manager of the BlackRock UK Income Fund from November 2013 to July 2017.
He'll have the support of the wider UK Equity team at Majedie, which we view positively. But we'd prefer to see how he settles in and find out more about how he might change the fund once he joins.
We no longer consider the fund to be among the best options for new investments in this sector. Our current favourites can be found on the Wealth 150+.