Majedie Investments Share Discussion Threads

[edwardt] 25/11/2020 16:57

1.5million traded. i bet that was specto!

[edwardt] 17/11/2020 19:45

Fat chance

[spectoacc] 11/11/2020 14:36

And buy back aggressively.

[makinbuks] 11/11/2020 14:20

The discount lately has been absurd. Even now its probably twice what it should be. I'd like to see the management take some decisive and positive steps: 1. reverse the over allocation to the Tortoise fund 2. take action to reduce the spread and increase liquidity in the market 3. Be clear on the outlook for the fund manager asset, is it to be sold down further or is it a growing cornerstone of the portfolio? 4. Clear up the gearing issue

[spectoacc] 10/11/2020 14:38

Keeping us waiting.

[makinbuks] 10/11/2020 14:08

Still yields 5.5% at this level and sustainable from reserves

[spectoacc] 10/11/2020 13:40

Looking forward to today's NAV.

[makinbuks] 13/8/2020 10:37

Agreed, even after this mini rally the discount is 20% so why are they buying only 432 shares back? I do have concerns about the Tortoise Fund and whether it has proved a flawed concept like so many Absolute Return Funds

[edwardt] 11/8/2020 17:33

they should be buying back lots at this discount,surely? also mam on a mark to market would be far higher imo. time for a rally here me thinks!

[makinbuks] 03/7/2020 16:59

Yeah I just don't get it. Is it buying back from staff leaving maybe rather than a market transaction?

[edwardt] 02/7/2020 14:12

watch out the force of the buyback is here again. not.

[ladywormer] 07/4/2020 17:36

Daveb - that was a good find. So little is written about MAJE

[spectoacc] 06/4/2020 16:30

Coronavirus, what coronavirus?

[makinbuks] 14/2/2020 15:45

I don't see what fundamentally there can be to be concerned about. Obviously theres the value of MAM which is subjective and under pressure recently and the only other issue for me is the poor performance of the Tortoise fund where they increased the holding at the wrong moment. MAM themselves seem to have lost their golden touch. Perhaps the success they had initially was hard to maintain as they got bigger

[essentialinvestor] 14/2/2020 15:42

Mentioned that in the context of the comment that there may be
something to be concerned about here.

It just looks out of favour to me?.

[essentialinvestor] 14/2/2020 12:15

The discount has been significantly wider than current levels.

Look at 2011-2013, it was over 30% at one point from memory.

[gez] 14/2/2020 00:12

not only is the yield high and growing, it appears they have dividend cover/ reserves of almost 4.5 yrs....well ahead of most investment trusts!!?

[earwacks] 13/2/2020 14:04

£2.82 nav. £2.26 share price and today have purchased another wapping 1800 shares for cancellation. I suppose if they keep this up they could have further reduce proportion of shares available to make it even less attractive. the family do hold too many shoes. From their days of rubber plantations. Even so 5% yield does it really explain what is going on here?

[earwacks] 10/2/2020 19:55

Quite right HugePants. You definitely need them investing here. Thats why the buybacks seem rather superfluous especially in such trivial amounts. Looks like they are terrified the share price will fall further. It just looks like something is terribly wrong. Have they been following Neil Woodfords tips or something. They went from being quite reckless in 2010 to rather over cautious at the beginning of last year. My family invested here for the widows and orphans strategy which worked quite well in the previous century but look completely out of their depth in the 21st century. They used to be on a par to Merchants Trust both in price share investment and dividends now they are pathetically not even half the share price of Merchants. Just feels a bit fishy to me

[hugepants] 10/2/2020 19:21

The Barlows hold 40% which may dissuade other institutional investors buying the shares?

[earwacks] 10/2/2020 18:09

Quite hard to understand this investment trust performance. They have made some terrible investments in recent years, but thought they Had begun to pull it round. The dividend is quite attractive now at 5%. But do they have some skeletons in the cupboard? Their recent buybacks like today 2000 shares FFS. What is that about. Edinburgh Investment trust pulled out of another fund to invest here recently. Is it the blind leading the blind or are is the market missing a bargain. Too many sellers for comfort. This has been as low as £1.40. Surely not again!

[makinbuks] 06/2/2020 18:02

Is there a big seller driving this down? Discount close to 18% seems far too high