Central to the changes is fund manager Chris Reid, who is stepping down from running the Dublin-domiciled Majedie Tortoise in order to focus on other funds.

Reid has co-run the long/short equity strategy with manager Matthew Smith since November 2008. Taking over from Reid, is equity analyst Tom Morris, who has four years of experience in the investment industry.

The move provides Reid with the opportunity to focus on the Majedie UK Income fund, which was launched in December 2011 and has experienced significant inflows over the past year.

“Performance turns heads – and the Majedie Tortoise and Income funds are both seeing good levels of interest. The UK Income fund has been notable and assets have grown to over £200 million (€236 million) over the past seven months,” a spokesperson told WealthBriefing.

“Increasingly Chris’s time is being taken up with this portfolio and he has also had a co-manager assigned to work alongside him,” the firm added.

His new co-manager on the income fund is Yuri Khodjamirian, who has four years’ experience as an analyst in the UK and international equity markets. In addition to the UK Income fund, Reid will retain his role on the Majedie UK Focus fund.