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

£45.0m
Fund size
47
No of holdings
3.60%
Historic yield*
Share class
None
127.57p
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 Global Infrastructure Income Fund is a global income fund investing in companies active in infrastructure. The fund aims to provide investors with income together with capital growth over the long-term, being five years or more.

Companies active in infrastructure assets are typically companies involved in the movement and storage of goods, people, water, energy and may include:

  • Regulated businesses including utilities, oil pipelines and transmission of power.
  • Transportation businesses such as airports, marine ports, bridges and toll roads.
  • Communication businesses including mobile and fixed line telecommunications.

Key points:

  • Income paid four times a year by dividend distributions.
  • Approximately 2/3rd of underlying profits of the companies in the portfolio are directly linked to inflation.
  • Concentrated portfolio holding 40-50 stocks.
  • Diversified across different geographical regions and infrastructure sectors.
  • Managed by an experienced infrastructure fund manager, Jim Wright.

*The historic yield reflects distributions declared over the past twelve months as a percentage of the mid-market price, as at 1 December 2020. This yield should not be seen as a future forecast. It does not include any preliminary charge and investors may be subject to tax on their distributions.

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 fund manager employs a robust investment process combining quantitative and qualitative analysis to find the most attractive investment opportunities.

The fund manager believes companies that are invested in infrastructure assets provide a compelling investment opportunity. These companies provide stable and visible long-term returns which are frequently linked to inflation and have limited exposure to economic cycles.

The manager’s investment process has five steps:

  • Asset filter - Are the underlying assets of the company, in a region / industry with an attractive outlook for investment?
  • Balance sheet - Is the company carrying an appropriate level of debt in relation to its assets?
  • Dividend cover - Is the amount of dividend currently paid out by the company sustainable?
  • Growth - Does the company provide visible and sustainable dividend growth?
  • Valuation - Does the company's current share price provide good value?
  • 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.
  • Fees will be deducted from capital which will increase the amount of income available for distribution; however this will erode capital and may constrain capital growth.
  • For funds investing globally, 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.
  • The fund will invest predominantly in companies that have exposure to infrastructure. This can mean the fund is more sensitive to price swings than other less concentrated funds.
  • In certain market conditions companies may reduce or even suspend paying dividends until conditions improve. This will impact the level of income distributed by the Fund.

Objective

The objective of the Fund is to provide an income together with 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.

Jim Wright
Fund manager

Fund facts

Fund launch date23 March 2017
IA sectorGlobal Equity Income
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November

Fund facts

Fund size£45.0m
Fund launch date23 March 2017
IA sectorGlobal Equity Income
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November