Dan Higgins, Investment Manager of Majedie Investments, joins UK Investor Magazine to explain how the trust’s ‘liquid endowment strategy’ is built to deliver inflation-beating returns without locking up investors’ capital.
Managed by Marylebone Partners, now part of Brown Advisory, the portfolio is structured around three core strategies: Direct Investments, a concentrated selection of quality stocks managed in-house; External Managers, allocations to hard-to-access boutique specialists operating in inefficient niches of the market; and Special Investments, episodic opportunities alongside some of the world’s leading investors in their highest-conviction ideas.
Higgins explains why the trust deliberately avoids benchmark-driven investing. With so much capital crowded into index heavyweights, he argues that today’s benchmarks carry risks, distortions and biases that are unnecessary for an absolute return mandate and that differentiated assets are increasingly where genuine absolute returns are likely to be found.
