Majedie Investments Dividends - MAJE

Majedie Investments Dividends - MAJE

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Majedie Investments Plc MAJE London Ordinary Share GB0005555221 10P
  Price Change Price Change % Stock Price Last Trade
-2.00 -0.88% 224.00 16:35:17
Open Price Low Price High Price Close Price Previous Close
224.00 224.00 224.00 224.00 226.00
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Industry Sector

Majedie Investments MAJE Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

ladywormer: Daveb - that was a good find. So little is written about MAJE
gez: 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: 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!
davebowler: Kepler - Majedie Investments (MAM) aims to maximise total shareholder return while increasing dividends by more than the rate of inflation over the long term. The portfolio is divided into six funds, all of which are managed by the well-respected boutique fund managers at Majedie Asset Management. MAM was launched in 2002 using finance provided by the investment trust and was led by a team that previously worked at Mercury Asset Management and Merrill Lynch. The strategy was to manage UK equities on behalf of institutional clients, but this has since been broadened to include global equities and an absolute return strategy, and clients now include wealth managers and endowments alongside institutions. The trust has a 17.1% stake in the privately-owned asset management company itself, which as of 31 March 2019 had £11.6bn of assets under management and makes up 27.5% of NAV (as at 30 June 2019). The team at MAM uses a bottom up, fundamental research-based approach and a high emphasis is placed on risk aversion. When considering investments, the various investment teams look to extract the maximum return per unit of risk taken and try to understand how the holding will hold up in different market environments. As an illustration, over the past year the trust has the lowest down capture ratio, at 46.32, in the AIC Global sector, and a standard deviation of 10.86 relative to the sector average of 16.9, when excluding the effects of the holding in MAM. Since the revamp of the trust in 2014, performance has been a tale of two halves. In the two years leading up to the 2016 European Union membership referendum, the trust delivered NAV returns of more than 50%, outperforming the MSCI World Index (49.9%), AIC Global peer group (41.7%) and the IA Global peer group (36.3%). However, the referendum result hit the trust hard, principally due to its large exposure to the UK and the cautiously positioned absolute return fund. Since then, the trust has struggled relative to global peers as investor sentiment towards Britain has soured. Over the past three years, the trust has delivered returns of 23.4% relative to 58.5% from the MSCI World, 69.4% from the AIC peer group and 52.3% from the IA peer group. With this said, the Global underlying funds have performed strongly relative to their respective benchmarks. Alongside capital growth, dividend growth is an important part of the trust’s investment proposition. The board re-set the dividend in 2014 and, since then, shareholders have seen compound progression in excess of 10% p.a. Currently, the trust is yielding 4.7% comfortably the highest yield in the Global sector, where the weighted average is 1.3%. In fact, it is the second-highest yield of any trust in the AIC Global Equity Income sector. As of the most recent annual report, the trust retains historic revenue reserves of close to £26m. Currently the trust is trading at a discount a little over 18%, considerably wider than the sector weighted average of 0.2%.
spectoacc: I fear I sold out for a fast loss, which would have been a fast profit if I'd held on - latest NAV doesn't explain the rise tho, so maybe you're right re MAM revaluation. With hindsight, think it's a bit risky for me - like the discount & performance, but there's the "double whammy" of either rises or falls depending on MAM. ie funds go up, MAJE goes up, MAM goes up, MAJE NAV goes up - but also all in reverse. Same position as eg LTI, but different position to eg LWDB, whose "extra business" is different.
edwardt: MAM revalued again - got to love it , by my maths valuation still implies a 6.4% yield on that asset - where can you find a dividend stream such as this that actually grows?
rambutan2: Re SIT's 20% stake in the manager, looks as though will have to wait for the first results for a fig/calc to be disclosed. Certainly has potential though. Below is from prospectus... 3 Investment in the Manager The Company will acquire a 20 per cent. equity interest in the share capital of the Manager on Admission at the same price per share at which the SAM Founder Shareholders subscribed for their shares in the Manager. Assuming that the Issue is subscribed as to 50 million Ordinary Shares, the Company’s investment in the Manager will constitute less than 0.5 per cent. of the Company’s Net Asset Value on Admission. This equity interest will be retained in accordance with the Company’s investment policy as set out in Part I of this Prospectus. The Directors expect that the Company’s investment in the Manager will help foster a relationship between the two entities that better aligns the interests of the principals of the Manager with the Company. The Directors note the potential for significant capital appreciation offered by the 20 per cent. equity interest that the Company will hold in the Manager. The business plan adopted by the Manager provides that it is to establish and act as investment manager to a range of investment funds that have the potential to earn the Manager both management and performance fees. The range of funds to be managed by the Manager by the end of Q3 2014 is expected to comprise the Company and a UCITS with four sub-funds, each characterised by either a long or long/short investment strategy in UK or pan-European equities. The Company may realise value from its investment in the Manager in part through what is expected to be a significant dividend payout rate in the medium to long term, and in part through the eventual disposal of the investment. The Board will periodically evaluate exit opportunities in respect of the Company’s investment in the Manager and will assess the viability of any such opportunities in the light of then-prevailing market conditions. The Directors hope, however, that this co-investment in the Manager will prove to be one of the Company’s more profitable long term investments, thereby helping the Company to achieve its investment objective. The SAM Founder Shareholders intend to subscribe for Ordinary Shares in the Issue in an aggregate amount of between £8 million to £10 million (which will represent between 16 to 20 per cent. of the Ordinary Shares in issue on Admission, assuming that the Issue is subscribed as to 50 million Ordinary Shares). The Directors believe that the Company’s investment in the Manager, and the personal investment of the SAM Founder Shareholders in the Company, give rise to a beneficial alignment of the interests of the Company and the Manager in the future success and profitability of the Company and the Manager.
topvest: Yes, it looks cheap on dividend yield alone. They will be selling over the next 4 years, so it's importance will diminish. This holding has saved them though. The investment performance otherwise has been very very poor and the costs too high. Things look brighter following the change of strategy though.
topvest: Yes, just caught up with this. Makes sense to me. Nice that they followed my! Javelin Capital just hasn't been successful. MAM are a much better fund manager. Dividend needed re-basing as it was unsustainable. Sustainable investment strategy should now be in place, and make sense to divest of the MAM shares over time. Share price up shows that the market likes this move. It does make you wonder whether MAM may use this as a first go at managing an investment trust. They may launch more I guess!
asmodeus: I have bought what I thought was Majedie income investment Trust today, but on doing further research, am totally confused! There appears to be more than one fund under the epicode MAJE, and differing information as to portfolios etc., if I look at the Majedie website itself; or Trustnet; or Citywire, and totally conflicting ideas of performance, launch dates etc., and you, Topvest, and others refer to Javelin, and it does not get a mention in some things I have read! I am not at all sure what I have bought, now! Any help would be gratefully received.
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