Majedie Investments Share Discussion Threads

[topvest] 15/1/2014 20:54

Yes, just caught up with this. Makes sense to me. Nice that they followed my advice...lol! 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] 15/1/2014 20:17

The document describing the changes says only that "the UK Income Fund and the segregated portfolio have annual management charges of 0.75%, and the Tortoise Fund 1.5% and a 20% performance fee (over a hurdle of 5%". Anyway there will be an EGM to approve the changes, and perhaps the question of fees can be elaborated upon then? No questions were raised about them at the AGM.

[edwardt] 15/1/2014 18:43

agree that makes sense but some pretty nasty double charging will go on now - think the board should have at least recognised that when doing the overhaul. any views?

[asmodeus] 15/1/2014 15:52

Topvest's 17 - "Maybe they should sell Javelin to Majedie and get Majedie Asset Management to manage the investment trust?"

For your information, Topvest, this is precisely what they have done! They announced it on 13th Ja. (see RNS) I have bought some more.

[asmodeus] 14/1/2014 14:40

Is anybody going to the AGM tomorrow?

[ntv] 31/12/2013 09:56

thanx rambutan2
asset value is climbing at a good pace and yield is excellent
share price still at a large discount to net assets

[rambutan2] 17/12/2013 14:42

Maj Asset Mngt carrying value upped by £7m. See annual report.

[ntv] 17/12/2013 14:07

yesterdays late announcement saw a significant rise in nett assets

[asmodeus] 08/12/2013 10:03

Thanks Top vest - and the first part of my due diligence was to ask for your advice! Many thanks. P.S. the Report and A/Cs are now out and I have read them, and now have a much better idea of what I have bought, and will follow this up by attending the AGM on Jan. 15th. Seems pretty good to me.

[topvest] 07/12/2013 16:41

Majedie Investments PLC is the investment trust. They own c25% in Majedie Asset Management, a very successful asset manager of open ended funds. Majedie Investments PLC has also set up Javelin LLP who manage the investment trust and a very small open ended fund. Unfortunately, Javelin LLP have not followed the same successful path as Majedie Asset Management. Final results will be interesting. This is the investment trust web-site hxxp://www.majedie.co.uk/ . Maybe more due diligence needed if you are not sure what you are buying!

[asmodeus] 06/12/2013 22:00

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.

[topvest] 05/5/2013 09:17

Some brighter news at Majedie Asset Management, now with £7bn under management and lots of new award wins:

I suspect there will be a very hefty revaluation gain this year if that keeps going + possibly a bigger dividend.
Maybe they should sell Javelin to Majedie and get Majedie Asset Management to manage the investment trust?

[topvest] 16/1/2013 22:08

Yes, Javelin are the only negative as they are not doing well. How they achieved a negative return in Q4 is beyond me! Continue to hold myself though.

[flashheart] 16/1/2013 19:52

Nice steady rise with an impressive array of investments. Cracking divi to boot so a no brainer for the SIPP or ISA as you say rogerbridge.

[rogerbridge] 19/12/2012 15:42

Made inital purchase for the ISA. Building an income portfolio to suppliment my future pension. I like the management here.

[topvest] 15/10/2012 20:30

Yes, good value here. A lot depends on how Javelin LLP do though which is why there is such a discount. Still hold quite a few.

[flashheart] 15/10/2012 14:03

RNS out with updated NAV figures. 28% discount with a 6.75% yield for any of you SIPP income seekers out there.

[topvest] 29/5/2010 15:35

These are on a very large discount again. Majedie Asset Management still looks in very good shape with £6m of dividends in H1 alone. Tends to indicate that the £30m carrying value is prudent. I really do think the investment trust + asset manager mix works very well as a strategy if effectively delivered. Javelin Capital LLP will be interesting here. In the meantime the c25% discount and 6.4% yield provide a degree of comfort!!

[topvest] 21/2/2010 17:56

Nice..

MAJEDIE INVESTMENTS PLC (the "Company")

Special Dividend

The Directors announce that, following the receipt of a dividend from Majedie
Asset Management Limited, the Board of Directors has today declared a special
interim dividend of 2.5 pence per share which will be paid on 8 March 2010 to
shareholders on the register on 26 February 2010. The Ex-dividend date is 24
February 2010.

[topvest] 12/1/2010 20:11

This has performed very strongly of late, partly influenced I guess by the uplift in the MAM stake. No news on Javelin Capital LLP yet, but this must be close to launching.

[topvest] 29/11/2009 08:20

Results this week were quite interesting;

- Majedie Asset Management stake now worth £30m for 30% holding. It made a PAT of £14m (ly £8m)and has shareholders' funds of £25m. £30m valuation is on a historical P/E of just 7. This is doing very well indeed.

- They are setting up a new asset management business, Javelin Capital LLP. This will also manage the company's investment portfolio and will, initially be 70% owned.

- Dividend maintained and policy unchanged.

- New Chairman as Barlow retires.

Glad I added some more. It's on a thumping discount and a yield of over 5%. The company's 100th year in 2010 as well. Lots of change, but looks very encouraging to me if they continue to make their asset management businesses work.

[topvest] 20/11/2009 13:01

Added a few more ahead of the results announcement.

This is interesting:

Majedie awarded UK Asset Management Firm and Boutique of the Year
07 Oct 2009

Majedie wins twice at the Financial News European Awards for Excellence in Institutional Asset Management

Majedie Asset Management ('Majedie'), the UK equity boutique, last night won two Awards at the 2009 Financial News European Awards for Excellence in Institutional Asset Management.

Now in their eighth year, the Awards aim to provide the definitive and authoritative industry view of the performance and strategy of the main players in the European institutional asset management industry. To decide the winners, a distinguished panel of 51 pension fund consultants, fund management executives and marketers from across Europe voted on the nominated fund management groups in each of the 20 categories.

Majedie was the winner of two categories: Boutique of the Year and UK Asset Management Firm of the Year. In the Boutique of the Year category, it was competing against Carmignac, Hexam, Neptune and River & Mercantile. In the UK Asset Management Firm of the Year category, Majedie beat a shortlist of household names, including M&G, Jupiter and Newton. The Awards ceremony was attended by more than 250 representatives of pension schemes, fund managers and investment consultants at the Banqueting House in Whitehall.

Commenting on the Award wins, James de Uphaugh, Managing Director of Majedie said:

"The Award wins are public recognition of Majedie's single minded focus on making money for our clients. We have expanded our team over the last year and look forward to the year ahead."

Majedie has four funds: the flagship UK Equity Service, the UK Focus Portfolio, the UK Opportunities Fund and the Tortoise Fund.

[topvest] 14/11/2009 18:42

I think that is because the Board are still undertaking a strategy review. Results of this are likely to be announced shortly.
MAM made a £13m profit in 2008 and so I suspect this business is worth a fair amount more than the book value. It's just won a number of industry awards as well.
From their interims, it looks like they are investing in another fund management business as well.
It will be interesting to see what the final results will bring in the way of news. To be honest, they would probably be better off letting MAM run the whole portfolio!

[washbrook] 23/9/2009 08:36

I am an Investor in Investment Trusts for over 30 years.
Looking at web sites of various Trusts on Sharescope.
Most of the company web sites have up to date Fact Sheets ie 31.8.09
Not Madjedie looking at their web site the latest info with difficulty give information at 30.6.09.
I like this Investment Trust but I am not going to purchase their stock if they cannot be bother to keep their shareholders up to date.
I have sent an email to them.
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[romi2nikki1] 12/6/2009 20:50

Most of the shares are held by the Barlow family, Smith Williamson recently took a holding of 3.46%. Axa Fram holds about 13%.

Really poor performance over 3 plus years. Will the old codgers hold back the strategy review?