Majedie Establishes Long/Short Hedge Fund Shop

Sep 1 2010 | 10:27am ET

Investment-trust-cum-hedge-fund-seeder Majedie Investments has launched a second fund management firm to manage its own assets.

Javelin Capital has been established as a subsidiary of Majedie, focusing on U.K. and global long/short, as well as long-only, strategies. The new firm, which includes all existing employees of Majadie Investments, aims to develop a series of multi-strategy products that will be marketed to professional investors.

“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,” Andrew Adcock, chairman of Majedie, said.

Majedie has given Javelin £4.5 million in start-up capital and will own 70% of the new firm, initially. Under Javelin’s business plan, that capital will be repaid to Majedie within three years.

The remaining 30% of Javelin will be owned by its partners and staff, among them CEO Gerry Aherne, chief investment officer Victor Pina, and portfolio managers Steven Asprey and Nick Rundle. Rundle will continue to oversee Majedie’s own assets.

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