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  6. Majedie Investments Plc (MAJE)

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MAJE

Majedie Investments Plc

197.50
5.00 (2.6%)
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Share Name Share Symbol Market Type Share ISIN Share Description
Majedie Investments Plc LSE:MAJE London Ordinary Share GB0005555221 10P
  Price Change % Change Share Price Shares Traded Last Trade
Upgrade Icon
  5.00 2.6% 197.50 15,992 14:38:01
Bid Price Offer Price High Price Low Price Open Price
193.00 198.00 197.50 197.50 197.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Investment Offices -25.93 -29.21 -55.10 - 104.67
Last Trade Time Trade Type Trade Size Trade Price Currency
15:58:51 O 303 193.70 GBX
Related Shares
Scottish Mortgage Invest... (SMT), M&g (MNG), Tiger Royalties And Inve... (TIR), Golden Rock Global (GCG)

Majedie Investments (MAJE) Latest News

Majedie Investments News

Date Time Source Headline
01/6/202312:30UKREGMajedie Investments PLC Total Voting Rights
26/5/202312:07ALNCNewsIN BRIEF: Majedie NAV per share falls; targets total return growth
26/5/202307:00UKREGMajedie Investments PLC Half-year Report
25/5/202316:45UKREGMajedie Investments PLC Net Asset Value(s)
25/5/202316:43UKREGMajedie Investments PLC Net Asset Value(s)
10/5/202317:57UKREGMajedie Investments PLC Net Asset Value(s)
05/5/202307:00UKREGMajedie Investments PLC Dividend Declaration
02/5/202317:04UKREGMajedie Investments PLC Total Voting Rights
27/4/202317:58UKREGMajedie Investments PLC Net Asset Value(s)
27/4/202317:56UKREGMajedie Investments PLC Net Asset Value(s)

Majedie Investments (MAJE) Discussions and Chat

Majedie Investments Forums and Chat

Date Time Title Posts
02/6/202311:32Majedie Investments PLC317
29/3/200912:11Investment Trust Income Stocks1

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Majedie Investments (MAJE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
14:58:52193.70303586.91O
14:24:22193.712,5004,842.63O
14:22:49193.00815.44O
14:15:31193.7066127.84O
14:15:25193.7071137.53O

Majedie Investments (MAJE) Top Chat Posts

Top Posts
Posted at 19/4/2023 09:17 by makinbuks
Liontrust shares off 5% today, were £12.50 a year ago and under £9 today.

I have great hopes for the current strategy and fully understand that the ownwer managers at Majedie needed an exit. But you can't escape the fact that Barlow, having done brilliantly to identify and back the Majedie team in the first place, completely mismanaged it in the last five years. The timing of the sale to LT and the price were the final act of that mismanagement
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Posted at 19/4/2023 09:11 by makinbuks
This is a bit galling from the Liontrust announcement this morning:

"It is a year since we acquired Majedie Asset Management with a final purchase price of £41 million2. Over the financial year, the investment team who joined from Majedie generated performance fees of £12 million, out of a total of at least £17 million for Liontrust as a whole."
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Posted at 10/4/2023 16:24 by cynicalsteve
February factsheet says the transition of the portfolio is almost complete so the March factsheet will give us the real portfolio to assess. Discount is currently 14% which is about right for a fund of funds (the percentage of direct equities is higher than usual though), it will take a few years of good performance to get the share price up to NAV and unless the discount widens a little I won't be buying yet.
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Posted at 26/2/2023 13:43 by makinbuks
I can't imagine there are many that had even heard of Marylebone or their strategy before the MAJE deal was announced. One of the things that concerns me is their apparent lack of success in commercialising their proposition
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Posted at 24/2/2023 20:04 by smidge21
For those that wanted to access the Marylebone strategy, MAJE is a very cheap way in
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Posted at 12/1/2023 00:00 by brwo349
hxxps://citywire.com/investment-trust-insider

Majedie to shun ‘alt’ assets with new manager Marylebone
By Jamie Colvin 11 Jan, 2023 at 12:33
1
Comment
Majedie to shun ‘alt’ assets with new manager Marylebone
Majedie Investment (MAJE), the struggling global investment trust backed by the Barlow family, has said its investment strategy under newly appointed Marylebone Partners will avoid private equity, venture capital, property and infrastructure in a bid to overturn ongoing poor performance.

Christopher Getley, chair of the £103m multi-asset trust, which had a ‘very disappointing’ 12 months to the end of September from its investments in funds at Majedie Asset Management (MAM), believes Marylebone will offer a range of benefits, including the potential for ‘differentiated’ and ‘repeatable217; performance.

Marylebone has a reputation for protecting and growing wealth, he said, returning 8.4% over the 12-month period. This looks appealing to MAJE investors as the trust’s shareholder returns slumped 24.9%. The MSCI World index fell 4.2% by comparison.

The investment portfolio fell 20%, with the global absolute return Tortoise fund its sole outperformer over the period out of seven MAM funds.

Other benefits under Marylebone, which uses a ‘liquid endowment’ model, include a 7.5% stake in the manager and a 50% management fee reduction for the first 12 months. Marylebone will also contribute to marketing costs.


Its $400m multi-asset strategy has three parts: ‘eclectic̵7; special investments; specialist third-party funds; and a focused pool of listed equities. The overall approach resembles that of other leading London-listed multi-asset global funds, such as the Rothschild-backed RIT Capital Partners (RCP) and Cayzer family-backed Caledonia Investments (CLDN)

Getley noted the move would give investors an opportunity to buy shares, which could narrow the 22% discount to net asset value (NAV) the shares currently trade at.

MAJE unveiled Marylebone in November, several months after Majedie was acquired by Liontrust, and will put the move to shareholders at the annual general meeting on 25 January. If approved, the company will target annualised total returns of at least 4% above the UK’s consumer prices index, measured over rolling five-year periods. The new strategy will be unconstrained by a benchmark or by geography.

A quarterly dividend payment is initially expected to comprise 0.75% of the relevant quarter-end NAV, leading to an annual dividend of about 3%.

‘Careful stock selection based on good fundamental analysis of equities and credit opportunities should offer shareholders good returns and the board believes that Marylebone is well placed to deliver from this outlook,’ Barlow said.

At present, the marketing campaign consists of video presentations by MAJE’s CEO William Barlow and an overview by Marylebone’s chief investment officer, Dan Higgins.

‘Turbulence in markets has greatly expanded the opportunity set available to Marylebone to pursue a liquid endowment strategy, in particular in equities and credit. Illiquid strategies that were favoured by low interest rates no longer offer an attractive risk/reward for investors,’ Getley said.

The former MAM funds at Liontrust have performed strongly since the financial year-end, with the Tortoise fund rising 9.7% to 20 December.

MAJE’s performance over the last 10 years falls well short of its benchmark, with NAV falling 18.7% over five years, compared with the benchmark’s 50.6% rise. Over 10 years, NAV has lifted 77.5% versus the index’s 209.3%, according to Numis Securities data.
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Posted at 11/12/2022 22:08 by brwo349
A new 3% shareholder, Christ Church, Oxford with 3.71%
https://uk.advfn.com/stock-market/london/majedie-investments-MAJE/share-news/Majedie-Investments-PLC-Holdings-in-Company/89746788
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Posted at 05/12/2022 10:18 by brwo349
This will be a very different beast once the management changes are confirmed. A growth focus and a yield of only 3% of NAV.

Certainly the gap has closed but not dramatically so. The 193.25p being quoted to buy still puts maje on a 21.5% discount.
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Posted at 10/11/2022 08:06 by topvest
Interesting new Investment Manager arrangements...a tad eclectic but that's Majedie for you! Anyway, Marylebone Partners LLP look OK and the 7.5% equity stake looks positive. A 3% of NAV dividend policy looks sensible. Given by the share price movement it appears that the news leaked out before today. Market seems to like it. On balance, it looks like a win win scenario for both parties.
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Posted at 31/3/2022 13:39 by topvest
"£80 million satisfied through the issue of 3,683,241 new Ordinary
Shares to Majedie Shareholders at Completion ("Initial Consideration Shares")"

"The Initial Consideration Shares, Excess NAV Shares and Conditional
Consideration Shares are to be issued at a price of 2,172p per Ordinary Share,
being the 30-day average closing price to 3 December 2021.


The new Ordinary Shares issued to Majedie Shareholders will be subject to a
staggered three year lock up commencing from the date of issue (one third
released at one year, two years and three years after issuance), subject to
certain customary exemptions. The aggregate of the Initial Consideration
Shares, Excess NAV Shares and Conditional Consideration Shares represent
approximately 6.80 per cent. of the share capital of Liontrust, as enlarged by
the Proposed Acquisition, and assuming no subsequent dilutive share issues
(e.g. pursuant to the exercise of share options)."

£12.82/£21.72 * £80m = £47m

So the consideration price has reduced by £33m.
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