Majedie Investments (MAJE) aims to provide its shareholders with long-term capital appreciation whilst paying a regular dividend. It invests for the long-term, with equities at the heart of the approach. In January 2023, the company modified its investment policy and appointed Marylebone Partners LLP as its investment manager. It focuses on three strategies:
- Special Investments These are eclectic opportunities with high return potential, including co-investments, thematic funds and special purpose vehicles. These situations are often challenging to access and rarely come to the attention of other investors. All Special Investments are marked to market on a regular basis, and are expected to be monetised within 36 months of initiation.
- External Managers This strategy involves allocations to leading specialist funds that pursue a fundamental skill-based approach, capitalising on structural inefficiencies in specific niche areas. Each manager in the Majedie portfolio has a distinct style and/or expertise in a geographic region or industry sector. Marylebone Partners has extensive experience of identifying best-in-class funds globally, with a preference for independent owner-operated boutiques whose managers’ interests are aligned.
- Direct Investments This strategy focuses on long-term, non-consensual investments in the public equities of value-creating companies. Portfolio companies have robust growth prospects, good levels of business profitability, and unappreciated earnings power. The selection process targets idiosyncratic bottom-up opportunities, combined to provide high active share and no inherent style or sectoral bias.
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