Forager Funds Management’s Steve Johnson has been left “dumbfounded” after influential investment researcher Lonsec slapped the firm’s global equities fund with a “redeem” rating over concern about the fund manager’s workload.

The move comes after Forager’s chief investment officer took on the extra responsibility of chief executive following the departure of Jeff Weeden. Lonsec said that although it had “solid regard” for Mr Johnson, “it had concerns regarding his workload given his expanded responsibilities”.