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

£138.1m
Fund size
61
No of holdings
6.1%
Historic yield*
Share class
None
149.69p
Share priceB Acc GBP
Fact sheet
  • Fund overview
  • Investment approach
  • Risks

The fund invests predominantly in large UK companies. Its focus is on good and growing dividends in the belief that this is the surest driver of capital growth. The fund manager works by making investment decisions which are based on the macro-economic environment to get the big picture right, and to identify trends in the real world that they can invest behind. The fund manager also works by selecting stocks which he believes to be the best opportunities within their industry or sector in order to find the best quality companies to invest in that will be beneficiaries of those trends or themes.

Key points about the fund:

  • It is the fund manager’s ambition to increase its distribution by 5% each year.
  • The fund manager identifies wider economic issues and long-term trends that are set to shape the investment landscape and then seek to position the portfolio to benefit accordingly.
  • Fees and costs are charged against capital rather than income so all income can be paid to investors.
  • A diversified portfolio of around 70 holdings.

*The historic yield reflects distributions declared over the past twelve months as a percentage of the mid-market price, as at 30 June 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 has a repeatable ‘dual-action’ investment process, combining top down macro-economic themes and bottom up stock selection.

Top down themes include:

  • An ageing population.
  • Resource scarcity.
  • Technology shifts.
  • Debt.
  • Extreme monetary policy.

We look to ‘swim with the tide’ and not invest in anything that is thematically challenged.

The stock selection element uses a ‘traffic-light’ process to find those companies best placed to deliver good and growing dividends:

  • Are there prospects for rising turnover?
  • Do unexpected cost increases get passed on to the customer?
  • Does the management team make decisions we feel will build real intrinsic value?
  • How much financial headroom is there in the balance sheet?
  • Are there low expectations in the share price?
  • 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.
  • This fund may experience high volatility due to the composition of the portfolio or the portfolio management techniques used.
  • 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.
  • For funds investing globally, currency exchange rate fluctuations may have a positive or negative impact on the value of your investment.
  • 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.

Awards & ratings

Objective and investment policy

To achieve income in excess of 100% of the yield of the FTSE All-Share Index each year, together with long term capital growth (over any 5 year period). There is no guarantee that the Fund will achieve either income and/or capital growth over any given period.

Eric Moore
Fund manager

Fund facts

Fund launch date05 April 2007
IA sectorUK Equity Income
Fund typeUnit Trust
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 March
Interim - 30 September

Fund facts

Fund size£138.1m
Historic net yield*5.9%
Fund launch date05 April 2007
IA sectorUK Equity Income
Fund typeUnit Trust
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 March
Interim - 30 September

Awards & ratings

Ratings are not a recommendation.

RSMR Fund Rating as at 30 June 2020.

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