Launched 18 months ago, the firm already has Ł750m (e535m) in assets under management. One of its largest contracts came from MGM Assurance. The Worthing, UK-based financial services provider hired Madjedie to run Ł101m in UK active equities in May 2004.
Madjedie has two specialist institutional products. The UK Equity Service targets the FTSE All-Share index +3 per cent. The UK Focus Portfolio invests in a more concentrated group of about 30 stocks.
James de Uphaugh, managing director, said the firm’s success was due to its expertise in a particular niche, which meant it was perfectly positioned to take advantage of the swing away from generalist, balanced investment managers.
Majedie Asset Management has the backing of parent financial services firm, Majedie Investments. It was founded by Mr de Uphaugh and four of his former colleagues at Merrill Lynch Investment Management, Adam Parker, Chris Field, Simon Hazlitt and Robert Harris.
