Interim Management Statement

Majedie Investments PLC                            

Interim Management Statement

The Board of Majedie Investments PLC announces its second Interim Management
Statement for the year ending 30 September 2011, as required by the UK Listing
Authority's Disclosure and Transparency Rules. This Statement is in respect of
the period from 1 April 2011.

Description

Majedie Investments PLC is an investment trust listed on the London Stock
Exchange. The original company was established in 1910 and owned several rubber
estates in Malaysia. It evolved into an investment company and obtained
investment trust status in 1985.

The Company owns a 30% stake in the asset management company, Majedie Asset
Management, and in 2010 it established a new asset management business, Javelin
Capital LLP, to manage the Company's assets as well as external funds.

Investment Objective

To maximise total shareholder return whilst increasing dividends by more than
the rate of inflation over the longer term.



Key Facts at 30 June 2011

Share Price                         176.5p
                                          
NAV per Share (debt at              223.8p
par)                                      
                                          
Discount                            21.15%
                                          
Dividend Yield (excluding            5.95%
special)                                  
                                          
Five Year Dividend Growth              16%
                                          
Net Gearing                         21.30%
                                          
Net Assets                         £116.5m
                                          
Market Capitalisation                 £93m
                                          
Total Assets                       £150.3m
                                          
Sector                       Global Growth
                                          
Ticker                             MAJE.LN



% Performance to 30 June 2011

Total Return            3 Months to  Calendar Year Fiscal Year 
                       30 June 2011                            
                                         2010          2010    
                                                               
Net Asset Value            -2.2%        -1.8%         -0.6%    
                                                               
Share Price                -1.9%         8.6%          7.9%    
                                                               
Core Portfolio              1.6%         8.2%          5.9%    



Balance Sheet at 30 June 2011

                      £ Mil    %    Notes                                      
                             Total                                             
                             Assets                                            
                                                                               
       Core Portfolio  93.2   62%   Long-only equity portfolio invested in     
                                    mainstream global stocks with a focus on   
                                    dividends. Its benchmark is 70% FTSE       
                                    All-Share & 30% FTSE World ex. UK Index    
                                    (sterling) on a total return basis.        
                                                                               
     Javelin Capital   19.1   13%   An absolute return, long-short global      
        Global Equity               equity fund.                               
      Strategies Fund                                                          
                                                                               
   Non Core Portfolio  4.8     3%   Investments in private equity and listed   
                                    equities with low liquidity.               
                                                                               
       Total Equities 117.1   78%                                              
                                                                               
        Majedie Asset  30.0   20%   30% stake in an unlisted asset management  
           Management               company.                                   
                                                                               
  Javelin Capital LLP  2.8     2%   75% stake in an unlisted asset management  
                                    company.                                   
                                                                               
        Other Assets/  0.4     0%                                              
        (Liabilities)                                                          
                                                                               
         Total Assets 150.3   100%                                             
                                                                               
           Debentures -33.8                                                    
                                                                               
           Net Assets 116.5                                                    



Top Ten Investments at 30 June 2011

Majedie Asset Management                20.0%
                                             
Javelin Capital Global Equity           12.7%
Strategies Fund                              
                                             
Royal Dutch Shell                        3.7%
                                             
HSBC                                     3.2%
                                             
BP                                       2.8%
                                             
GlaxoSmithKline                          2.6%
                                             
Vodafone Group                           2.6%
                                             
Rio Tinto                                2.1%
                                             
BHP Billiton                             2.0%
                                             
Vostok Energy                            1.9%
                                             
                                        53.4%
                                             
Figures are % of total assets                

Regional Allocation in Core Portfolio at 30 June 2011

UK              63.4%
                     
North           14.8%
America              
                     
Europe ex UK     7.2%
                     
Rest of          7.9%
World                
                     
Cash             6.7%

Sector Allocation in Core Portfolio at 30 June 2011

Basic Materials              10.6%
                                  
Consumer Goods                6.7%
                                  
Consumer Services            10.1%
                                  
Equity Investment             1.2%
Instruments                       
                                  
Financials                   17.1%
                                  
Health Care                   8.1%
                                  
Industrials                  11.3%
                                  
Oil & Gas                    15.7%
                                  
Technology                    2.0%
                                  
Telecommunications            7.3%
                                  
Utilities                     3.2%
                                  
Cash                          6.7%



Material Events or transactions

Equity markets were generally trendless during the second quarter of 2011 -
developed markets made a little headway but emerging markets gave up ground.
Japan was weak again, falling for the second consecutive quarter. There was a
late rally in Continental Europe as hopes rose for a settlement of the issue in
Greece as a new austerity package was voted through. Commodities and especially
oil headed downwards whilst defensive sectors such as Healthcare and Consumer
staples performed best.

In Q2 2011, the Company's NAV and share price returned -2.2% and -1.9%
respectively. The Core Portfolio returned 1.6% with its performance driven by
its exposure to defensive stocks. The investment in the Javelin Capital Global
Equity Strategies Fund fell by 2.3% in sterling terms.

A General Meeting of the Company was held on 29 June 2011 which approved a
further capital injection into Javelin Capital, of up to £3.5million in
aggregate, which also included various changes to the LLP agreement, and also
approved a change to the Company's investment policy and objective. Following
this approval a further £2.5million of additional capital was provided by the
Company to Javelin Capital LLP and in line with the new LLP agreement the
Company's initial stake increased to 75%.

Javelin Capital LLP has undertaken a restructuring as a consequence of the
extra capital and remains focussed on attracting external assets under
management.

There have been no other material events or transactions that have taken place
between 31 March 2011 and the date of publication of this statement.

Disclaimer


This Interim Management Statement has been issued by Majedie Investments PLC on
20 July 2011. The news, information, and data in this statement should not be
deemed as a financial promotion or recommendation. Majedie Investments PLC is
not authorised to give financial advice