Sat, Dec 20, 2014
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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Opalesque Exclusive: U.S. legal receivables fund launched in August[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Investing in asset-backed receivables is a strategy that has been an integral part of the alternative investment space within the overall fixed income asset c

  5. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und