Majedie wins its first institutional client.

Financial News, October, 2003

Byline: Alistair Graham

Majedie Asset Management, the UK investment house established last year by four former Merrill Lynch fund managers, has won its first institutional mandate from motor manufacturer Honda.The European subsidiary of the Japanese car giant has dropped UBS Global Asset Management, which managed Honda's entire scheme in a balanced portfolio for the past eight years, and handed London-based Majedie [pounds sterling]11m ([euro]15.6m) to invest in UK equities on behalf of its pension fund.

Mercer Investment Consulting, actuarial and investment consultants, advised Honda Motor Europe. Majedie's quick entry onto the buy-list of a major consultancy is a coup for the firm as consultants are usually reluctant to recommend their clients to...

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