In response, a Majedie spokesperson said: “Chris Reid and his team have steered the Majedie UK Income Fund into the top decile of the IA UK Equity Income sector, during which time it has, as intended, outperformed the FTSE All-Share Index and delivered an attractive yield.
“Notwithstanding a more difficult 2016, the team’s investment process has been consistent throughout this period.
“They continue to target companies where the business is improving, particularly in unfashionable or more controversial areas of the market.”
