Employee stakes increase at Majedie

Employees at Majedie Asset Management have increased their ownership of the business to 70%. Assets under management at the UK equity boutique have grown from 2.3bn as at December 30, 2005, to more than 3bn. This has enabled Majedie to repay the preference shares originally advanced to help finance the initial growth. A repayment of 2.1m of capital and 700,000 of other payments were made to Majedie last month.