A spokesperson for Majedie Investments told Investment Week that, as part of the trust's strategic transition effective on 1 November, Barlow's role has shifted from executive director to non-executive director, as confirmed in a stock exchange notice on Wednesday (8 November).
From now on, the trust will not have a chief executive officer, just non-executive directors and the chair. Barlow, who had served as CEO since 2011, will become part of the Marylebone Partners team, Majedie Investments' investment manager, to "ensure continuity", it said.
Majedie Investment trust appoints new manager
"This marks the culmination of the company's comprehensive transition, concurrent with its appointment of Marylebone Partners as the investment manager," the spokesperson said.
"Marylebone Partners is now the AIFM, with Juniper Partners appointed as the administrator and company secretary."
Marylebone Partners was appointed investment manager in November 2022 following an "extensive review". According to the Association of Investment Companies, the trust holds £148m in assets and is trading at a 10% discount to net asset value.