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• Popular funds at Liontrust and Majedie have been dropped by ratings agency FE in a bi-annual review of its Approved Funds list. Analysts at FE said they had lost conviction in the Majedie UK Income Fund following changes made by manager Chris Reid, and raised concerns over the growing scale of the Liontrust UK Smaller Companies Fund. The Liontrust Special Situations Fund was also one of the 12 dropped funds, as were the Invesco Perpetual Global Smaller Companies, Rathbone Global Opportunities and Jupiter Distribution funds.

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