Majedie Investments is set to close its emerging markets boutique Javelin Capital and switch assets into the separate Majedie Asset Management (MAM) business. Majedie Investments shut down Javelin Capital to rebase the company's dividend policy following failure to acquire material third party assets. The Majedie's board said that the appointment of MAM and the consequent changes will be beneficial for Majedie shareholders and will retain responsibility for supervision, oversight and asset allocation.

Majedie Investments said Majedie Asset Management has agreed to repurchase 10% of its share capital from Majedie by the end of March, while Majedie has agreed to reduce its 18% stake by up to 2.5% a year over each of the next four years. The sale of the initial 10%, which will be made by 31 March this year, will provide Majedie with the £18 million it plans to invest in MAM's UK Income fund. Javelin was launched by Majedie in September 2010 as an asset management business, with the aim of managing the company's assets and developing into a profitable business through managing third party funds.