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MAJE Majedie Investments Plc

1.00 (0.41%)
28 May 2024 - Closed
Delayed by 15 minutes
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
  1.00 0.41% 243.00 1,534 16:35:14
Bid Price Offer Price High Price Low Price Open Price
240.00 246.00 240.00 240.00 240.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Mgmt Invt Offices, Open-end 21.27M 16.27M 0.3071 7.82 127.2M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:38:08 AT 34 240.00 GBX

Majedie Investments (MAJE) Latest News

Majedie Investments (MAJE) Discussions and Chat

Majedie Investments Forums and Chat

Date Time Title Posts
11/3/202412:21Majedie Investments PLC329
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
2024-05-28 13:38:08240.003481.60AT
2024-05-28 13:38:08240.006681,603.20AT
2024-05-28 11:29:44240.008321,996.80AT

Majedie Investments (MAJE) Top Chat Posts

Top Posts
Posted at 28/5/2024 09:20 by Majedie Investments Daily Update
Majedie Investments Plc is listed in the Mgmt Invt Offices, Open-end sector of the London Stock Exchange with ticker MAJE. The last closing price for Majedie Investments was 242p.
Majedie Investments currently has 52,998,795 shares in issue. The market capitalisation of Majedie Investments is £127,197,108.
Majedie Investments has a price to earnings ratio (PE ratio) of 7.82.
This morning MAJE shares opened at 240p
Posted at 11/3/2024 12:21 by makinbuks
Well theoretically it would make sense for an endowment fund with infrequent genuine NAV updates if the manager establishes a reputation for delivering. Clearly what the manager want to achieve to allow the fund to grow through share issues.
Posted at 06/3/2024 16:33 by makinbuks
I'm actually pinching myself here. Is the price really £2.40 XD!! I'm a natural worrier so I'm now thinking about how robust the NAV is and whether we can trust the valuation of these SPV's. Time will tell and I will be around one way or another
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
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."
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.
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
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
Posted at 12/1/2023 00:00 by brwo349

Majedie to shun ‘alt’ assets with new manager Marylebone
By Jamie Colvin 11 Jan, 2023 at 12:33
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.
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.
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.
Majedie Investments share price data is direct from the London Stock Exchange

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