Following some changes to the fund's management team, we have decided to suspend the AA rating of the Majedie UK Equity fund. Matthew Smith has stepped away from the fund to focus solely on the Majedie Tortoise fund, which he also manages, and will be replaced by Imran Sattar, who joined Majedie in June 2018 as a co-manager of the Majedie UK Focus fund.

This fund is managed using a multiple manager approach and, although we know two of the current underlying managers, Mr Sattar is unknown to us. Therefore, we made this decision because we feel it pertinent to get to know Mr Sattar and his approach. We intend to meet Mr Sattar in the coming weeks and will keep investors updated.