Data is at market close and rounded to 2 decimal places.

£2,239.6m
Fund size
52
No of holdings
None
291.87p
Share priceB Acc GBP
Fact sheet

Following FCA approval, from 27 November 2020, the role of Authorised Corporate Director (ACD) function has changed from Link Fund Solutions Limited to Premier Portfolio Managers Limited. At the same time, the fund was renamed, with the LF Miton prefix changing to Premier Miton. This reflects the change of ACD and the name of the new company, Premier Miton Investors, formed following the merger of Premier Asset Management Group plc and Miton Group plc in November 2019.

  • Fund overview
  • Investment approach
  • Risks

The Premier Miton European Opportunities Fund invests across the full range of large, medium and small sized companies but will have a bias to medium sized companies. The managers aim to provide total returns, comprised of income and capital growth, over the long-term, being five years or more.

Key Points:

  • Able to invest across the full range of large, medium and small sized companies but will have a bias to medium sized companies.
  • Focus on individual companies and the global markets they operate in, rather than the European economic outlook.
  • The managers favour companies that can create value through a combination of growth in revenues and profit margins, and where their potential to create value is currently not reflected in the share price.
  • Long term investment horizon.
  • Employing a consistent investment strategy over the long-term.
The material within these webpages is not a recommendation to buy or sell any of the investments referred to herein. Premier Miton does not give financial advice. If you are unsure as to the suitability of the investments mentioned please contact a financial adviser. The value of investments can fall as well as rise and you may not get back the original amount invested. Please see the Risks section above for a list of all associated risks.

The managers' investment approach is built around four key pillars:

  • High quality.
  • Superior growth prospects.
  • A long term investment horizon.
  • An unconstrained investment universe.

High Quality – The focus here is twofold; firstly, the managers demand a high return on capital – well above a company’s cost of capital. Secondly, they require evidence that this high return will be sustained in the long term and not competed away.  Quality businesses tend to have substantial barriers to competition, and therefore make sustained high returns on their invested capital over the long term. The managers prefer businesses whose earnings are driven by factors within company management control rather than external events. The business activity is often less sensitive to the economy than other companies.

Superior and Expanding Growth Prospects – The managers look for businesses with high and ideally accelerating sales growth. This can be from unit growth (new products, market share gain, new markets) or pricing power. These businesses might well be benefitting from a structural tailwind (such as an ageing demographic in the developed world).

Long Term Investment Horizon – In the managers’ experience they have found that stock markets are best at forecasting short term earnings of a company, less good at understanding medium term earnings, and poor at understanding long term change. Consequently, the managers spend significant time focused on the latter rather than the former. Furthermore, they are not distracted by the short term unlike many other investors and instead consistently focus on the long term.

Unconstrained – The larger the investment universe in which the managers can operate, the more high conviction ideas they are able to find; although they tend to find that the above characteristics are most commonly found in medium sized businesses. Small companies are often more risky as they are less established and the shares trade less frequently. The managers find medium sized companies generally present the most attractive investment opportunities.

  • The value of investments may fluctuate which will cause fund prices to fall as well as rise and investors may not get back the original amount invested.
  • Currency exchange rate fluctuations may have a positive or negative impact on the value of your investment.
  • This fund may experience high volatility due to the composition of the portfolio or the portfolio management techniques used.

Awards & ratings

Objective

The objective of the Fund is to provide total returns, comprised of income and capital growth, over the long-term, being five years or more. Five years is also the minimum recommended period for holding shares in this Fund. This does not mean that the Fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested.

Carlos Moreno
Fund Manager and Head of European Equities
Thomas Brown
Fund manager

Fund facts

Fund launch date14 December 2015
IA sectorEurope ex UK
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November

Fund facts

Fund size£2,239.6m
Fund launch date14 December 2015
IA sectorEurope ex UK
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November

Awards & ratings

Ratings are not a recommendation.

FE fundinfo Crown Fund Ratings do not constitute investment advice offered by FE fundinfo and should not be used as the sole basis for making any investment decision. All rights reserved.

RSMR Fund Rating as at 31 December 2020.