Overview
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.
You can access the company’s website here
Fundamentals
Price
Research History
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07 Jun 2024 1 min read
Interview with Olivia Macdonald from Majedie Investments
In this week’s show, James Carthew spoke to Olivia Macdonald from Majedie Investments. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to watch […]
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05 Jan 2023 90 min read
QuotedData’s Economic and Political Monthly Roundup January 2023
Economic and Political Monthly Roundup Investment companies | Monthly | January 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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07 Dec 2022 8 min read
QuotedData’s Investment Companies Roundup – December 2022
Investment Companies Monthly Roundup Kindly sponsored by abrdn December 2022 Monthly | Investment companies Winners and losers in November 2022 As discussed in this month’s economic and political roundup, lower US inflation triggered a fall in the US dollar and drove equity markets higher over November. The big surprise was the resurgence of Chinese markets […]
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07 Jul 2020 7 min read
QuotedData’s Investment Companies Roundup – July 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over June: CQS New City High Yield – […]
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08 Jun 2020 7 min read
QuotedData’s Investment Companies Roundup – June 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over May: GCP Infrastructure – […]
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8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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10 Jan 2020 5 min read
QuotedData’s investment companies roundup – January 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Income Events New research Here is a list of research we published over December: An update note on BlackRock Throgmorton (THRG) “BlackRock Throgmorton continues to lead its peer group in […]
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8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Jun 2019 5 min read
QuotedData’s economic roundup – June 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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22 Feb 2019 1 min read
QuotedData’s investment companies roundup – February 2019
QuotedData’s investment companies roundup – February 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2019. Kindly sponsored by Baillie Gifford. December’s sharp sell-off in technology and growth stocks reversed somewhat in January. This was […]
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11 Dec 2017 2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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31 Mar 2025 3 min read
QuotedData’s morning briefing 31 March 2025 – RKW, AAS, MAJE, API, LSAA, PRSR, PCTN, LABS
In QuotedData’s morning briefing 31 March 2025: Rockwood Strategic (RKW) has announced that its investment management agreement has been novated from Harwood Capital LLP to Rockwood Asset Management (RAM), effective 31 March 2025. RAM is a trading name of Harwood Private Capital LLP, another FCA-authorised entity within the Harwood group. The change will see RAM […]
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23 Dec 2024 2 min read
Majedie’s three core strategies added meaningfully to its total returns
Majedie (MAJE) has published its annual results for the 12 months ended 30 September 2024, during which it provided NAV and share price total returns of 21.5% and 24.1% respectively. Its chairman, Christopher Getley, says that “each of the three core strategies added meaningfully to the overall returns” and that “the low correlation of performance […]
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17 May 2024 3 min read
QD view – Family fortunes
It is not a bad rule of thumb to invest in a similar way to people who already have a lot of money. Therefore, the logic of investing alongside in one of the investment trusts where a wealthy family has a large shareholding seems inescapable. But investors need to ensure their interests are looked after […]
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12 Jan 2024 5 min read
QD view – Should I stay or should I go?
Tuesday this week (9 January), saw the announcement that Ben Whitmore, a star investment manager at Jupiter focused on value equities, would be leaving to set up his own investment management firm. This is no small development for Jupiter as Ben is a popular manager responsible for a significant portion of the firm’s AUM (he […]
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18 Dec 2023 2 min read
Majedie releases first results under new management
Majedie Investments (MAJE) has released its annual results for the year ending 30 September 2023, and is the first set of results to be released under its new investment manager, Marylebone Partners. MAJE reported a NAV total return of 14.1% and share price total return of 26.2% for the period. MAJE appointed its new investment […]
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20 Dec 2022 2 min read
Majedie reports on very poor year
Over the 12 months ended 30 September 2022, Majedie Investments produced an NAV total return of -18.2% and a return to shareholders of -24.9%. This compares with a 4% fall in the All-Share and a 4.2% fall in the MSCI All Countries World Index. The dividend was cut from 11.4p to 10.4p (1.8p of which […]
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11 Nov 2022 1 min read
QuotedData’s weekly news show 11th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Majedie • ThomasLloydEnergy Impact • Crystal Amber This week’s interview was with James de Uphaugh from Edinburgh Investment Trust – watch it again here.
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10 Nov 2022 5 min read
New direction for Majedie
Majedie says that it plans to appoint Marylebone Partners as its investment manager and AIFM and change its approach to that of a ‘liquid endowment model’. Founded in 2013, Marylebone Partners is an independent firm, currently managing approximately $400m for professional and institutional clients who include charities, foundations, family offices, high-net worth individuals, and trusts. […]
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25 May 2022 2 min read
QuotedData’s morning briefing 25 May 2022
In QuotedData’s morning briefing 25 May 2022: JPMorgan China Growth & Income (JCGI) has posted its interim results for the six months to 31 March 2022. During this time, the trust’s total return on net assets (with net dividends reinvested) fell 30.8%, underperforming the benchmark MSCI China Index’s 17.5% decline (in sterling terms). The total […]
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14 Dec 2021 1 min read
Majedie helped by narrower discount
Majedie Investments just managed to beat the MSCI AC World Index over the 12 months ended 30 September 2021. The NAV return for the period was 22.5% against a return for the index of 22.1%. However, a narrowing discount delivered a return to shareholders of 37.1%. The dividend was maintained at 11.4p, but this was […]
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07 Dec 2021 2 min read
QuotedData’s morning briefing 7 December 2021
In QuotedData’s morning briefing 7 December 2021: ICG-Longbow Senior Secured UK Property Debt (LBOW) plans to hand back 6.5p per share (£7.9m) to shareholders. The capital return will be effected via an issue of redeemable B shares (issued in proportion to an investor’s holding of ordinary shares and then bought back and cancelled). The capital […]
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27 May 2020 2 min read
QuotedData’s morning briefing 27 May 2020
Latin America is now the centre of the pandemic. While Brazil has been in the headlines most, there are concerns that Venezuela is particularly unprepared to cope, were cases to escalate. The BBC reports that on a per capita basis, Ecuador is the worst affected country in the region. Flexible investment company, Caledonia (CLDN), reported […]
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07 Apr 2020 2 min read
QuotedData’s morning briefing 7 April 2020
In QuotedData’s morning briefing 7 April 2020 At 16:42 yesterday, Assura announced plans to issue up to 240,207,920 shares to fund the purchase of additional medical centres. £2.5m would be donated to the Assura Community Fund, to support local communities in areas where it has assets, most would go to finance investments – it had a […]
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11 Dec 2019 1 min read
Majedie results make grim reading
Majedie results make grim reading – Over the year ended 30 September 2019, Majedie Investments’s NAV total return was -9.9%. Shareholders fared a bit better than this, with a -3.5% return but both numbers look fairly bad against returns for the All Share and MSCI World of +2.7% and +7.3% respectively. The dividend was upped […]
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05 Dec 2018 3 min read
Majedie fails to match benchmarks, discount widens
Majedie fails to match benchmarks, discount widens – Majedie Investments says that, for the year ended 30 September 2018, its NAV return was 2.7% and the return to shareholders was 2.1%. By contrast, the All Share Index and MSCI World Index (in sterling terms) rose by 5.9% and 12.9% respectively. The dividend has been increased from […]
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05 Dec 2017 2 min read
Majedie underperforms as absolute return investment loses money
Majedie underperforms as absolute return investment loses money – Majedie says that, in the year ended 30 September 2017 the NAV (net asset value with debt at par) rose by 10.4% on a total return basis whilst the share price rose by 13.0%, also on a total return basis. The Board is recommending a total […]
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06 Nov 2017 1 min read
Majedie redeems debt to cut gearing
Majedie redeems debt to cut gearing – Majedie Investments PLC has given notice that it is exercising its right to redeem all of the outstanding £13.5m of its 9.5% coupon bond that was due to mature in March 2020. 6 December 2017 will be the redemption date. As Majedie is buying back the bond early, it has to pay compensation under the […]
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07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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05 Dec 2016 2 min read
Majedie plans to narrow discount
In the year ended 30 September 2016 Majedie‘s NAV rose by 16.0% on a total return basis whilst the share price rose by 3.0%. The Board is recommending a total dividend for the year of 8.75p per share, an increase of 9.4%. The UK market and MSCI World Index (in Sterling terms) rose by 16.8% and […]
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25 May 2016 2 min read
Majedie sees NAV perform in line with FTSE All-Share but underperforms global markets
Majedie has announced its interim results for the half year ended 31 March 2016. During the period the trust provided an NAV total return of 3.4% although, reflecting a widening of the discount during the period, share price total return was -0.7%. In comparison, the FTSE All-Share Index and MSCI World Index rose 3.5% and […]
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28 Jan 2016 2 min read
F&C Managed Portfolio beats UK market
F&C Managed Portfolio Trust has published interim results for the six months ended 30 November 2015, announcing a net asset value total return of -5.1% for the Income shares and -2.4% for the Growth shares compared to the FTSE All-Share Index return of -6.4%. The key drivers of the performance of the Growth Portfolio were […]
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07 Dec 2015 1 min read
Majedie Asset Management does wonders for Majedie
Majedie Investments generated a 12.9% return on net assets for the year ended 30 September 2015 and a return to shareholders of 15.7%. The dividend was increased from 7.5p to 8p. This was the first full year of the Company’s assets being managed by Majedie Asset Management and they did a pretty good job – over […]
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28 May 2015 1 min read
Majedie has good first half as MAM funds outperform and expand
Majedie’s net asset value total return for the six months to the end of March 2015 was 14.5%. The return to shareholders was 10.5%. The interim dividend is 3p. 38.5% of the assets is in a segregated fund that tracks the MAM UK Equity Fund. This returned 7.7% net of fees in the six months […]
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05 Dec 2014 1 min read
Year of transformation for Majedie
Majedie Investments final results for the year ended 30 September 2014 show the fund’s net asset value returning 10.8%. The dividend was cut from 10.5p to 7.5p. However the fund’s discount narrowed from 28.4% to 5.3% over the year and so the return to shareholders was much higher at 49.7% as the share price rose […]
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13 Jan 2014 1 min read
Majedie Investments : MAJE – changes to management arrangements
Majedie has appointed Majedie Asset Management as its sole investment manager and has decide to close its hedge fund business, Javelin Capital and redeem its £29.5m investment in Javelin Capital Emerging Markets Alpha Fund. Majedie Asset Management will purchase 10% of its share capital from Majedie Investments – reducing the fund’s interest in the asset management […]
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10 Dec 2013 1 min read
Majedie : MAJE
Results for the year ended 30 September 2013 show a net asset value total return of 16.9% and a share price total return of 9.7% as the discount (calculated with debt at fair value) expanded from 20% to 28.4%. The full year dividend was maintained at 10.5p per share (net revenue was less than 65% of […]
Upcoming Events
Videos
In The Press
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12 Jun 2024 1 min read
This UK trust’s discount has more than halved in a year but is it still a buy?
By Emma Wallis, News editor, Trustnet, 12 June 2024: A change of manager and renewed interest from shareholders have propelled Majedie Investments from a discount in the high twenties in 2022 to just 11% today.. The trust appointed Marylebone Partners as its investment manager in January 2023 and switched to a ‘liquid endowment’ investment strategy, […]
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08 Mar 2024 1 min read
The most expensive trusts relative to their history
By Matteo Anelli, Senior reporter, Trustnet, 07 March 2024: Premiums are rare in the investment trusts industry, which suffers from chronic discounts, but there are still some trusts that have caught investors’ eyes and garnered traction over the past five years, according to data from QuotedData. Earlier this morning, we looked at the trusts that […]
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16 Nov 2022 1 min read
Investment trust insider on Majedie
Investment trust insider on Majedie – James Carthew: Majedie’s RCP-style rejig shows promise Majedie Investments (MAJE) has had another rethink about its strategic direction and now proposes to appoint a new fund manager and adopt an investment approach that targets returns of inflation (UK CPI) plus 4% per annum averaged over five years. The £95m […]
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15 Feb 2022 1 min read
Investment trust insider on global equity income funds
Investment trust insider on global equity income funds – James Carthew: Scottish gone, it’s Majedie’s turn to merge One of the big surprises of last year was Scottish (SCIN) opting to be absorbed by JPMorgan Global Growth and Income (JGGI). Last week Scottish announced that its portfolio was now aligned with JGGI’s. Scottish’s shareholders approved […]
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11 May 2020 2 min read
Preserving family fortunes can protect yours too
Trusts set up to preserve fortunes of rich families can protect YOURS too: here’s how you can invest By JEFF PRESTRIDGE FOR THE MAIL ON SUNDAY PUBLISHED: 22:16, 9 May 2020 | UPDATED: 09:01, 10 May 2020 Terry Smith is one of the shrewdest investors to come out of this country in a long, long time – although he now […]
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17 Dec 2019 1 min read
Investment trust insider on UK equity trusts
Investment trust insider on UK equity trusts – James Carthew: UK trust laggards should merge not seek new fund managers UK investment trusts of all types are enjoying a post-election rally, particularly those with the highest perceived exposure to domestically-focused companies. I am kicking myself for not having bought Aberforth Split Level Trust (ASIT), one of […]
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19 Aug 2019 1 min read
Shares magazine looks at ‘bargain’ trusts
Shares magazine looks at ‘bargain’ trusts – Seven trusts on bargain ratings: which ones to buy? We reveal the trusts trading on a steeper discount to the 12 month average… MONITORING PREMIUMS AND DISCOUNTS Many investors monitor premiums and discounts to NAV very closely as a way of spotting if there is an opportunity to buy something […]