James de Uphaugh urged investors to look through Majedie Asset Management's short-term performance travails and instead focus on the firm's long-term record of generating returns, as he set out plans to turn around the "prestigious" £808m Edinburgh Investment Trust mandate the firm took on in March.
Investment company analysts and buyers spoke of their surprise over the decision of Edinburgh's board to select Majedie to replace Invesco as the boutique's open-ended funds had seen a period of poor performance to rival former manager Mark Barnett's. None of Majedie's UK equity funds have beaten the FTSE All-Share index's 13.3% gains in the five years to 29 July, according to FE fundinfo, with Majedie UK Focus's 13.25% the closest the firm has got. Majedie UK Equity, which de Uphaugh is a named co-manager on, has returned just 3.8%. UK equity funds present 'cracking' opportunities de...
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