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Majedie UK Equity Class X - Accumulation (GBP)

Sell:171.44p Buy:171.44p Change: 2.16p (1.24%)
Prices as at 23 May 2019
Sell:171.44p
Buy:171.44p
Change: 2.16p (1.24%)
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
Prices as at 23 May 2019
Sell:171.44p
Buy:171.44p
Change: 2.16p (1.24%)
Prices as at 23 May 2019
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund features on our Wealth 50 list of what we believe are the best funds in each sector.

We rate the experienced Majedie UK Equity Team highly. The managers are incentivised to perform well - they invest their own money in their fund and own shares in the business they work for. They've got a long history of delivering strong performance by investing in companies with outstanding prospects.

This fund stands out from others in the sector. The managers are prepared to invest against the herd and tend to focus on large companies, although they also have the flexibility to invest in higher-risk small and medium-sized companies. Over the long term their balanced and diversified approach could result in attractive returns for investors. There are no guarantees though.

Our view on the sector

The UK stock market is home to lots of world-class companies. From international giants to a diverse array of smaller businesses. This provides a rich hunting ground for fund managers in this sector. They all try to grow investors' money over the long term, but each goes about it in a different way. Some focus on larger companies in the FTSE 100 index, others invest in medium-sized or smaller companies, and some have the flexibility to invest in any company, regardless of size. Some aim to match or deliver a return similar to the broader UK stock market. Others have the freedom to try and make as much money as possible for investors and take more risks. That could mean investing in only a small number of companies, for instance. A fund that invests in UK shares is normally the first port of call for UK-based investors. But with such a variety on offer, investors should make sure a fund is right for their circumstances before investing.

Performance Analysis

The managers have an impressive track record and have tended to shelter investors' money in falling markets and perform slightly better than the broader UK stock market when it's rising. Our analysis suggests the managers' stock picking has been particularly strong amongst larger companies. They've also added value by investing in strongly performing areas, such as the technology sector.

Investment Philosophy

The four experienced managers each have their own unique investment style intended to complement that of the other team members. This results in a balanced and diversified fund with exposure to both unloved, undervalued companies and those with the potential to consistently grow their earnings year after year.

Process and Portfolio Construction

The fund is managed by a team of four (Chris Field, Matthew Smith, Richard Staveley and James de Uphaugh). Each is responsible for their own portion of the portfolio.

The managers all have their own strengths, styles and areas of focus. By combining each manager's best ideas the aim is to generate a portfolio that could perform well in all sorts of different economic and market conditions, although this isn't guaranteed. The fund also invests in higher-risk smaller companies and the managers use their flexibility to invest up to 20% of the fund overseas. This results in a diversified portfolio of more than 150 companies.

question mark Manager Track Record Based on HL Quantitative Research

  • MAJEDIE ASSET UK EQTY-B-ACC
  • Majedie UK Equity A Acc
  • Majedie UK Equity X Acc
  • FTSE All-Share TR
FROM: TO:


Fund Track Record

22/05/14 to 22/05/15 22/05/15 to 22/05/16 22/05/16 to 22/05/17 22/05/17 to 22/05/18 22/05/18 to 22/05/19
Annual return 10.51% -10.91% 28.51% 6.76% -9.24%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Majedie Asset Management is an investment boutique founded in 2002. Traditionally they have focused on managing money for institutional investors, so are not well known to retail investors. However, they have grown steadily over the last decade and have an experienced and stable fund management team who have worked together for many years.

Majedie view each fund's capacity as scarce; they believe investment performance can rapidly suffer from diseconomies of scale if assets under management grow too large. They have limited the available capacity in each of their funds in order to remain nimble.

Information about the fund

Fund manager biography

manager photo
Manager Name: James De Uphaugh
Manager start date: 27 March 2003
Manager located in: London

James de Uphaugh is Chairman and Chief Investment Officer of Majedie Asset Management. He is a fund manager and analyst with 30 years' investment experience in UK and international equity markets. James is responsible for co-managing both the UK Equity and UK Focus funds. He also leads Majedie's efforts in Responsible Capitalism. Before co-founding Majedie in 2002, James had been a Managing Director at Mercury Asset Management (subsequently acquired by Merrill Lynch, now BlackRock), where he was also Chairman of the UK Investment Group and Alpha Team Leader. While at Mercury, he was responsible for managing institutional portfolios with combined UK equity assets of £1.4bn. James joined Mercury Asset Management in 1988. He holds a Master of Arts degree in Economics from Jesus College, Cambridge. He holds the ASIP qualification and is an Associate Member of the CFA Society of the UK.

manager photo
Manager Name: Chris Field
Manager start date: 27 March 2003
Manager located in: London

Chris Field is an Executive Director of Majedie Asset Management. He is a fund manager and analyst with 31 years' investment experience in UK and international equity markets. Chris is responsible for co-managing both the UK Equity and UK Focus funds. Before co-founding Majedie in 2002, Chris had been a Director at Mercury Asset Management (subsequently acquired by Merrill Lynch, now BlackRock), where he was also a member of the UK Investment Group. While at Mercury, he was responsible for managing institutional portfolios with combined UK equity assets of £1.7bn. Chris joined Rowan Investment Managers (a predecessor firm to Mercury Asset Management) in 1980. He holds the ASIP qualification and is an Associate Member of the CFA Society of the UK.

manager photo
Manager Name: Matthew Smith
Manager start date: 1 November 2010
Manager located in: London

Matthew Smith is a fund manager and analyst with 24 years' investment experience in UK and international equity markets. Matthew is responsible for lead managing the Tortoise Fund and co-managing both the UK Equity and UK Focus funds. Before joining Majedie in 2006, Matthew had been a Director at Deutsche Bank, where he was Pan European Support Services Analyst. Until 2004 he had been a Director and Transport Analyst at Credit Suisse. Prior to that, he was a fund manager and analyst at NPI, where he managed the NPI UK Extra Income Unit Trust. Matthew joined NPI in 1994. He holds a Bachelor of Sciences degree in Geophysics from the University of Southampton.

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through an ISA, Lifetime ISA, SIPP or Fund & Share Account