Majedie soft closes top-performing UK Income fund

Strategy reaches £1.5bn

Majedie Asset Management is soft closing Chris Reid's UK Income fund, as the strategy has surpassed its £1.5bn capacity limit.

The investment boutique said it will no longer form new client relationships for the fund, although existing clients will be able to top up their mandates on request. The move is being taken in order to allow for "carefully managed inflows over time", the group has said. The decision comes as the strategy has recently passes its £1.5bn AUM threshold, to which Majedie had previously committed, less than three years after its formal launch; this includes segregated mandates, as well as the £1bn OEIC. The fund, managed by Reid and Yuri Khodjamirian, has returned 76% over the past thre...