Majedie Investments PLC seeks to deliver long-term capital growth at an attractive rate above inflation, while preserving shareholders’ capital.
Our portfolio is managed by Marylebone Partners LLP, an independent FCA regulated manager based in London and founded in 2013. Marylebone Partners' liquid-endowment approach targets strong and differentiated returns with equities at its heart.
Marylebone Partners’ defining feature is its ability to find eclectic, bottom-up opportunities, sourced through an ideas network built over more than three decades at leading firms. These investments rarely come onto the radar screen of other allocators and / or are not sufficiently scalable to be considered by some large institutional firms. Hence, the overlap between the Majedie portfolio and those of its peers should be low. An investment in Majedie Investments PLC can therefore complement other holdings in a long-term programme.
The approach is focused on the three main investment strategies: hard-to-access special investments, allocations to specialist external funds, and direct investments in public equities.
Majedie Investments PLC has a long and distinguished history, with its origins in family-owned rubber estates in Malaysia. One of the estates under its ownership was named Majedie. Over time, the business evolved to focus on financial investments, leading to its establishment as an investment company. On 1st October 1985, the company obtained investment trust status.
Whereas the investment approach has developed since 1910 to reflect a changing world and to pursue new opportunities, the core tenets of Majedie Investments PLC are the same. Now, as then, we seek to grow and preserve generational wealth through a progressive and responsible investment approach, whilst always putting shareholders’ interests first.
On 25th January 2023 Marylebone Partners LLP is appointed as investment manager to the Company.
On 1st April 2022 Liontrust acquires MAM.
On 7th December Liontrust Asset Management PLC announced that it had entered into an agreement to acquire MAM.
On 6th December, the Company redeemed the entire outstanding amount of its £13.5m 9.50% March 2020 debenture.
The Company becomes an FCA authorised & regulated self-managed AIFM, with Majedie Asset Management as its investment manager.
Majedie Asset Management Limited launched as a specialist fund management company.
£25m raised through launch of 7.25% debenture 2025.
£15m raised through launch of 9.5% debenture 2020.
Investment trust status obtained.
Majedie (Johore) Rubber Estates Limited incorporated.
* Independent non-executive
In January 2023, the Company appointed Marylebone Partners LLP as its investment manager and moved to a ‘liquid endowment’ investment policy.
Marylebone Partners LLP is an independently owned FCA-regulated AIFM, founded in 2013 and owned by its principals. Its sole purpose is to preserve and grow the wealth of its clients. The firm manages the wealth of endowments, families, charities and individuals, including many successful investment professionals. Its team has decades of experience and has previously managed capital successfully within the investment company structure. For more information on Marylebone Partners’ team, philosophy and approach, please click here: www.marylebonepartners.com.
Majedie Investments PLC become a partner of Marylebone Partners LLP on 25 January 2023, entitling it to a 7.5% share of residual profits and capital, at no cost.
The directors are mindful of the importance of corporate governance matters. The following statement sets out in detail how the Company addresses the requirements of the AIC and UK Corporate Governance Code.
Corporate Governance Information
The four Board Committees form an important part of the Company’s corporate governance structure. The relevant terms of reference for each committee are provided below, as well as the roles and responsibilities of the Chairman and Senior Independent Director:
Roles and Responsibilities of the Chairman and Senior Independent Director
Management Engagement Committee
Each year the annual report contains information on Corporate Governance which deals with issues similar to those covered in the above Corporate Governance Statement, including details of any specific issues relevant to the year in question.
Directors’ Remuneration Policy:
In accordance with the requirements of Schedule 8 of the Large and Medium Sized Companies and Groups (Accounts and Reports) (Amendment) Regulations 2013, as amended, the Company’s approved directors’ remuneration policy is shown below. This was approved by shareholders at the Company’s Annual General Meeting on 20 January 2021 and it is proposed it will remain in force until the Annual General Meeting in 2024 at which time a further resolution will be proposed. Any changes prior to that date are required to be approved by shareholders by ordinary resolution.
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1. INTRODUCTION
1.1 This legal information should be construed in accordance with English law. It can be accessed throughout the Site by clicking on the ‘Important Legal Information’ link on each page. It provides access to important information about the purpose and status of the information being provided. This includes details of legal and regulatory disclosures and warnings that are designed to inform and protect investors and potential investors.
1.2 This Site provides information about the Company and its associated companies or subsidiaries (if any).
1.3 An application for any investment or service referred to on this Site may only be made on the basis of the relevant document, or other applicable terms relating to the specific investment or service.
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1.5 The Company confirms that it currently conducts its affairs so that its shares can be recommended by independent financial advisers to retail private investors in accordance with the Financial Conduct Authority's ("FCA") rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in a UK-listed investment trust.
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2.2 The Company believes that the information contained on this Site is accurate at the date of publication, but accepts no liability for inaccuracy. It may be changed without prior notice. The information on this Site is approved for issue by the Company.
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4.1 Before investing into shares in the Company you are required to have been provided with certain disclosures as required under legislation. These are the Key Information Document which can be accessed here, and the Investor Disclosure Document which can be accessed here. By proceeding and continuing to use the site you agree that you have seen the disclosures.
5.1 The value of shares and any income from them can go down as well as up and you may not get back all that you have invested. Please be advised that any return estimates or indications of past performance on this Site are for information purposes and can in no way be construed as a guarantee of future performance.
5.2 The price of the shares in investment trusts is determined by supply and demand and is therefore not necessarily the same as the value of the underlying assets.
5.3 In a building society or bank account your money is secure, whereas in a stockmarket-based investment it is exposed to a degree of risk.
5.4 Changes in currency rates of exchange may have an adverse effect on the value of or income from the Company’s shares.
5.5 Levels and bases of taxation are subject to change and will depend on your personal circumstances. You should consult your own professional advisers on the tax implications of making an investment in, holding or disposing of any of the Company’s shares, and on the receipt of dividends. In particular, ISAs are subject to government legislation and as such their tax benefits may be changed in the future.
These exclusions do not restrict any duty on which the Company may have by any applicable law or regulation.
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