Sun, Aug 31, 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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  4. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius