The LF Majedie UK Equity fund’s rating was suspended in May 2019, following the departure of Richard Staveley, who left the group, and Matthew Smith, who stepped back from this strategy to focus on the Majedie Tortoise strategy. Mr Smith was replaced by Imran Sattar, co-manager of the UK Focus fund, whilst Mr Staveley was replaced by John King. We have now met with Mr Sattar and Mr King, who joined the group in December 2019, and we believe that the fund remains in capable and competent hands. Therefore, we have decided to reintroduce the fund into the Academy of Funds with an A rating.