Staveley will work alongside Adam Parker on the mandate, managing around £600m, and James de Uphaugh, Chris Field and Matthew Smith who look after the larger company equity portfolios.
The Majedie UK Equity Fund has a total £1.8bn under management, and has produced returns of 86.33% over five years versus the benchmark’s 51.25% according to FE. Its performance over the past year is shown in the graph.
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Staveley joins the firm from River and Mercantile, where he headed up the UK Equity Smaller Companies and UK Equity Income funds. A spokesperson for the firm said Dan Hanbury will assume responsibility for the funds.
Prior to this he worked at hedge fund boutique Bradshaw Asset Management as assistant fund manager.
Rob Harris, chief executive of Majedie, said: “At a time when institutional funds, in their increasing desire to invest globally, are typically moving up the market cap spectrum, we see ever more under-researched and enticing money making opportunities lower down.”
Earlier in the year the firm hard launched its UK Income Fund, after seeding in December 2011.
