Majedie Investments

What Majedie Investments does

Majedie Investments PLC is a UK-listed investment trust (LSE: MAJE, ISIN: GB0005555221) tracing its origins to 1910 as Majedie (Johore) Rubber Estates Limited and operating under investment trust status since 1 October 1985. The trust pursues long-term capital appreciation combined with a regular quarterly dividend, targeting net annualised total returns of at least CPI+4% over rolling five-year periods. NAV stood at £178.7 million as at 30 April 2026, with NAV per share of 337.17p as at 31 May 2026.

Since 25 January 2023 the trust has been externally managed by Marylebone Partners LLP (which received regulatory approval on 12 November 2025 to become part of Brown Advisory, triggering a 10 basis point reduction in management fees). The portfolio is constructed under a 'liquid endowment' approach organised around three complementary strategies: Special Investments (eclectic, hard-to-access opportunities from Marylebone's decades-long proprietary ideas network, including co-investments, SPVs and thematic funds with up to 36-month fruition horizons), External Managers (allocations to specialist boutique third-party managers with regional or sector expertise), and Direct Investments (public equities of value-creating companies with robust growth and profitability). Equity-centric exposure typically represents two-thirds of the portfolio, and the strategy deliberately avoids illiquid assets while producing low correlation to mainstream global equity benchmarks.

The trust distributes shares to UK retail and institutional investors via the London Stock Exchange, accessed through major UK platforms (AJ Bell, Barclays Smart Investor, BestInvest, EQI, Hargreaves Lansdown, HSBC, Interactive Investor, Lloyds Bank) and Company-sponsored savings schemes; shares are reserved exclusively for non-US Persons. Marketing reaches investors through monthly factsheets, quarterly portfolio-manager commentaries, half-yearly and annual reports, podcast appearances on UK Investor Magazine and Proactive Investors, Kepler Trust Intelligence research notes, and investor-showcase events such as the AJ Bell forum. Operational infrastructure is provided by Juniper Partners (Company Secretary), J.P. Morgan Europe (Depositary), Ernst & Young (Auditors), Computershare (Registrars), Dickson Minto (Solicitor) and J.P. Morgan Cazenove (Stockbroker); the £20.7m Debenture was repaid in FY2025 and replaced by a £15m revolving credit facility from BNP Paribas.

Name

Majedie Investments

Legal name

Majedie Investments PLC

Website

https://majedieinvestments.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Majedie Investments PLC is a UK-listed investment trust (LSE: MAJE) externally managed by Marylebone Partners LLP under a 'liquid endowment' approach across Special Investments, External Managers and Direct Investments, targeting long-term capital growth and a regular dividend for UK retail and institutional shareholders.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Management Fees: Majedie Investments pays a management fee to its investment manager Marylebone Partners LLP (which became part of Brown Advisory on 12 November 2025). The management fee was reduced by 10 basis points concurrent with the Brown Advisory transaction. As an investment trust, the Company's net returns are reflected in NAV performance and dividend distributions to shareholders.
2. Dividend Income to Shareholders: Majedie Investments declares regular dividends to shareholders. For the year ended 30 September 2025, the Company declared an increased dividend of 8.4 pence per share, paid on a quarterly basis. The investment objective includes paying a regular dividend while delivering long-term capital growth.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Majedie Investments PLC is a UK-listed investment trust (LSE: MAJE, ISIN: GB0005555221) that provides shareholders with long-term capital appreciation and a regular quarterly dividend. Managed externally by Marylebone Partners LLP under a 'liquid endowment' investment approach, the portfolio combines three complementary strategies: Special Investments sourced through a proprietary ideas network, allocations to specialist boutique External Managers, and Direct Investments in public equities of value-creating companies. The performance target is net annualised total returns of at least UK CPI plus 4% over rolling five-year periods.

Product overview

Majedie Investments PLC operates as a single unified investment trust product (ISIN: GB0005555221) rather than a platform-plus-modules architecture. The trust is managed by Marylebone Partners LLP under a 'liquid endowment' approach that is built around three complementary sub-strategies: Special Investments (eclectic opportunities from Marylebone's proprietary ideas network, including co-investments, special purpose vehicles and thematic funds), External Managers (funds run by specialist boutique third-party managers), and Direct Investments (public equities of value-creating companies). Together these three strategies provide diversification while keeping equity-centric exposure at roughly two-thirds of the portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• Majedie Investments PLC Investment Trust UK-listed investment trust (ISIN: GB0005555221, LSE: MAJE) providing long-term capital appreciation with a regular dividend; targets net annualised total returns of at least CPI+4% over rolling five-year periods and is available to UK retail and institutional investors through the London Stock Exchange.
• Special Investments Strategy Sub-strategy comprising eclectic opportunities sourced through Marylebone Partners' proprietary ideas network, including co-investments, special purpose vehicles and thematic funds, with a target time-to-fruition of no more than 36 months.
• External Managers Strategy Sub-strategy allocating capital to funds managed by exceptional specialist boutique third-party managers, each pursuing a fundamental approach with a distinctive style or regional/sector expertise.
• Direct Investments Strategy Sub-strategy of targeted investments in the public equities of value-creating companies with robust growth prospects and good levels of business profitability.

Quantifiable outcome

• +44% NAV total return over three calendar years to end-2025, exceeding the CPI + 4% annual return objective
• +4 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

17 partnerships are on record, tiered flagship, core and minor.

• Brown AdvisoryflagshipStrategic or Co-development Partner · 12 November 2025Brown Advisory received regulatory approval on 12 November 2025 to incorporate Marylebone Partners (Majedie's investment manager) into its group. The Marylebone team relocated to Brown Advisory's Hanover Square offices. The transaction triggered a 10 basis point reduction in management fees paid by Majedie.
• Marylebone Partners LLPflagshipStrategic or Co-development Partner · 25 January 2023Appointed as the Company's investment manager and AIFM on 25 January 2023, managing the full liquid-endowment portfolio via Direct Investments, External Managers and Special Investments strategies. On 12 November 2025 Marylebone Partners received regulatory approval to become part of Brown Advisory, with the team relocating to Brown Advisory's Hanover Square offices and a 10bp reduction in management fees.
• J.P. Morgan Europe LimitedcoreImplementation/ SI/ Consulting PartnerActs as the Depositary for the Company, with safe-keeping of assets delegated to JPMorgan Chase Bank National Association, London Branch.
• Juniper PartnerscoreImplementation/ SI/ Consulting PartnerActs as Company Secretary to Majedie Investments PLC, providing corporate secretarial and administration services from Edinburgh.
• Ernst & Young LLPcoreImplementation/ SI/ Consulting PartnerAuditors of the Company, responsible for statutory audit of financial statements.
• Computershare Investor Services PLCcoreImplementation/ SI/ Consulting PartnerRegistrars for the Company, maintaining the share register and handling shareholder enquiries and changes.
• Dickson Minto W.ScoreImplementation/ SI/ Consulting PartnerSolicitor to the Company, providing legal advice from its Edinburgh office.
• J.P. Morgan CazenovecoreChannel Partner/ Reseller/ DistributorStockbroker to the Company, supporting secondary-market trading and corporate broking on the London Stock Exchange.
• AJ BellminorChannel Partner/ Reseller/ DistributorUK retail investment platform enabling investors to buy and hold Majedie Investments shares via AJ Bell Youinvest.
• Barclays Smart InvestorminorChannel Partner/ Reseller/ DistributorUK retail investment platform offering access to Majedie Investments shares.
• BestInvestminorChannel Partner/ Reseller/ DistributorUK retail investment platform offering access to Majedie Investments shares.
• EQIminorChannel Partner/ Reseller/ DistributorUK retail investment platform offering access to Majedie Investments shares.
• Hargreaves LansdownminorChannel Partner/ Reseller/ DistributorUK retail investment platform offering access to Majedie Investments shares.
• HSBCminorChannel Partner/ Reseller/ DistributorHSBC Stockbroker Services offering access to Majedie Investments shares.
• Interactive InvestorminorChannel Partner/ Reseller/ DistributorUK retail investment platform offering access to Majedie Investments shares.
• Lloyds Bank Share DealingminorChannel Partner/ Reseller/ DistributorUK retail share-dealing service offering access to Majedie Investments shares.
• Liontrust Asset Management PLCminorOthersFormer corporate parent of Majedie Asset Management Limited (MAM). Liontrust announced the acquisition of MAM on 7 December 2021, completed on 1 April 2022. MAM was replaced by Marylebone Partners as investment manager on 25 January 2023.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ruffer Investment Company: Ruffer Investment Company is a London-listed investment trust run by Ruffer LLP with a distinctive absolute-return, contrarian approach and explicit aversion to mainstream equity benchmarks. Like Majedie, it targets real returns above inflation, holds eclectic assets, and emphasises capital preservation through market regimes.
• Capital Gearing Trust: Capital Gearing Trust is a UK investment trust that pursues a multi-asset, real-return strategy with significant allocation to equities, bonds and special situations. It shares Majedie's focus on inflation-plus long-term returns, contrarian positioning, and a flexible mandate run by an external specialist manager.
• Personal Assets Trust: Personal Assets Trust is a UK-listed investment trust focused on long-term capital preservation with a multi-asset, flexible mandate managed by Frederick Stavis. Like Majedie it targets inflation-beating returns through a contrarian, globally-diversified approach and is accessible to UK retail investors via mainstream platforms.
• RIT Capital Partners: RIT Capital Partners is the largest UK-listed flexible investment trust, run by Lord Rothschild's family office. Like Majedie, it pursues a global, multi-asset, long-term approach with significant flexibility to invest across geographies and asset classes, and is aimed at investors seeking long-term capital preservation and growth. Both are externally-managed, London-listed, and target real returns above inflation.
• Hansa Investment Company: Hansa Investment Company is a small UK-listed investment trust run by Hansa Capital Partners with a concentrated, contrarian global portfolio approach. Closely comparable to Majedie in size, structure, and the contrarian 'liquid endowment' style of stock-picking aimed at long-term capital preservation.
• Brunner Investment Trust: Brunner is a UK-listed global investment trust run by Allianz Global Investors targeting long-term capital and income growth through a multi-asset, global approach. Comparable in structure (externally managed, UK listed, global mandate) though larger and more income-oriented than Majedie.
• Witan Investment Trust: Witan is a UK-listed multi-manager global investment trust that allocates across multiple external specialist managers, mirroring Majedie's External Managers strategy sleeve. Both trusts use a multi-manager global framework, target long-term real returns, and are accessible to UK retail investors via mainstream platforms.

Broad incumbents

• Scottish Mortgage Investment Trust: Scottish Mortgage is one of the largest UK-listed global growth investment trusts, run by Baillie Gifford. While Majedie is more flexible and smaller, both are global equity vehicles listed on the LSE targeting long-term capital growth, and they are often held side-by-side in UK investor portfolios as complementary global exposures.
• JPMorgan Global Growth & Income plc: JPMorgan Global Growth & Income is a large UK-listed global investment trust providing capital growth and income from international equities, run by JPMorgan Asset Management. It is a comparable global mandate trust, though larger and more index-aware than Majedie, and shares a director (Jane Lewis) on its board.

Regional players

• Troy Income & Growth Trust: Troy Income & Growth Trust is a UK-focused investment trust run by Troy Asset Management targeting conservative long-term capital and income growth from UK equities. Less directly comparable than the global flexible trusts but shares Majedie's London listing, externally-managed structure, and emphasis on dividend income alongside capital preservation.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/majedie-investment-trust/about

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Majedie Investments