Majedie sees an impressive turnaround under Marylebone

Majedie Investments, a once-ailing trust, has seen its discount shrink to almost nothing under its new manager, Marylebone Partners

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When the directors of the ailing, family-controlled Majedie Investments (LSE: MAJE) were looking for a new manager, they looked for something different from the mainstream. They found it in Marylebone Partners, a small boutique founded in 2013.

“As an investment trust, you need to give investors something they couldn’t get elsewhere,” says Dan Higgins, Majedie’s lead manager. That is achieved through what Marylebone calls its “liquid endowment model” – a mix of niche funds in selected areas, direct investments and special situations, but no private equity or property.

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Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.