Majedie Investments‘ liquid endowment strategy is designed to deliver inflation-beating absolute returns without locking up investors’ capital, investment manager Dan Higgins told UK Investor Magazine. The trust has been pursuing long-term capital appreciation and regular dividends since its inception in 1985.
Majedie Investments (MAJE) modified its investment policy and appointed Marylebone Partners LLP as its investment manager in January 2023. Marylebone Partners was co-founded by Higgins in 2013 and serves families, charities, endowments, and trusts.
Inside the Majedie Liquid Endowment Strategy
The portfolio is structured around three core strategies. Direct Investments is a concentrated selection of quality stocks managed in-house. External Managers covers allocations to boutique specialists operating in inefficient niches of the market that are otherwise hard to access. Special Investments captures episodic opportunities alongside some of the world’s leading investors in their highest-conviction ideas.
Higgins argues that today’s benchmarks carry risks, distortions and biases that are unnecessary for an absolute return mandate. With so much capital crowded into index heavyweights, he says differentiated assets are increasingly where genuine absolute returns are likely to be found. The trust deliberately avoids benchmark-driven investing as a result.
An undated fact sheet for Majedie Investments cited a share price of 181.0p, a market capitalisation of £95.9m, and total assets of £151.1m, placing the trust in the Flexible sector. The gap between market capitalisation and total assets reflects a discount to net asset value, a common feature of closed-ended investment trusts.
Brown Advisory Acquisition Progresses
Marylebone Partners’ ownership is in transition. Brown Advisory confirmed on 27 June 2025 that it was in advanced conversations with Marylebone Partners LLP to join its team, with the aim of building a leading endowment-style offering for clients based outside the United States.
By 8 September 2025, Brown Advisory had entered into a formal agreement to acquire Marylebone Partners, subject to regulatory approval, according to TheWealthNet. The deal is intended to give Marylebone Partners’ clients access to Brown Advisory’s global resources, infrastructure, and in-house investment expertise.
Majedie Investments filed its full accounts for the period to 30 September 2025 at Companies House on 4 March 2026. A confirmation statement was filed on 6 January 2026.
The regulatory approval process for the Brown Advisory acquisition will determine whether Marylebone Partners’ management of Majedie Investments continues under a changed ownership structure, making the outcome of that process the next material event for MAJE shareholders to watch.
