Wed, Oct 18, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

London-based Majedie Investments launches subsidiary asset management business Javelin Capital

Wednesday, September 01, 2010
Opalesque Industry Update - The Board of Majedie Investments PLC is pleased to confirm the launch of a subsidiary, Javelin Capital LLP, a newly authorised asset management business. Majedie Investments PLC has appointed Javelin Capital to manage its assets under a new Investment Management Agreement, the terms and related costs of which have been carefully considered by the Board as suitable and appropriate.

Majedie Investments PLC will transfer all existing employees to Javelin Capital whose senior management will include Executive Director Gerry Aherne as Chief Executive, Victor Pina as Chief Investment Officer, Dr Steven Asprey as Portfolio Manager and Nick Rundle, who is currently Investment Director for Majedie Investments PLC. Javelin Capital will be governed by a Management Board which consists of both Majedie Investments PLC directors and Javelin Capital partners.

The assets of Majedie Investments PLC will continue to be managed by the current team, led by Nick Rundle, who as a partner of Javelin Capital will report to the Board of Majedie Investments PLC, to ensure that the overall regulatory conditions are met for an investment trust and that the investments are in accordance with the stated objectives of the Company. The Board of Majedie Investments PLC has in place appropriate key operating systems and controls to provide reassurance to current shareholders and future investors that a robust governance process is in place.

The Board of Majedie Investments PLC is seeking to increase both the size and quality of the Company’s earnings, and gain geographical and investment diversification. Javelin Capital is an alternative equity boutique offering both long-short and long-only investment approaches in both Global and UK equities. The aim is to develop a high quality specialist fund management group that will deliver superior investment returns and offer high quality, multi-strategy equity products to professional investors.

To finance the start up and projected costs for the first three years and to provide regulatory capital, the Board of Majedie Investments PLC has agreed to invest £4.5 million into Javelin Capital. The business plan for Javelin Capital envisages that within the three years this capital will be substantially repaid. Majedie Investments PLC will hold an initial 70% participation in Javelin Capital whilst a 30% interest will be held by partners and staff.

The Board of Majedie Investments PLC believes that Javelin Capital offers significant growth prospects, and that the range of experience and capabilities enables it to manage both the assets of Majedie Investments PLC, and other institutional investors, both professionally and successfully.

Andrew Adcock, Chairman of Majedie Investments PLC, commented: “Having successfully benefited from the sponsorship of Majedie Asset Management, which has grown into a successful, award winning fund management company, we are seeking to repeat that success with Javelin Capital and perceive there to be significant appetite in the market for an equity manager with the ability to produce positive return, low volatility products.”


(press release)


About Majedie Investments PLC
Majedie Investments PLC is a London Stock Exchange listed investment trust with gross assets of approximately £148 million. The Company was formed in 1910 and obtained investment trust status in 1985. The investment objective of Majedie Investments PLC is to maximise total shareholder return over the long term whilst increasing dividends by more than the rate of inflation. (www.majedie.co.uk)

About Javelin Capital LLP
Javelin Capital is an asset management company, established in 2010 to specialise in Global and UK Equities. Javelin Capital will differentiate itself initially by focusing on Global and Emerging Markets Equities, utilizing innovative investment approaches with the goal of achieving superior low volatility performance. Javelin Capital is structured as an alternative equity boutique offering both long-short and long-only investment approaches. The business strategy is to offer high quality sophisticated multi-approach equity products to a range of professional investors. By having a performance driven, equity ownership culture, the Partners of Javelin Capital wish to maintain the dynamic benefits of a small/medium organization and operate within a framework in which the interests of shareholders, management, and clients are aligned. (www.javelincapital.com)


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad