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

£83.0m
Fund size
115
No of holdings
None
359.87p
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 UK Smaller Companies Fund focuses on companies with relatively low market capitalisations, investing primarily in AIM, Small Cap and Fledgling business. The fund aims to provide capital growth over the long-term, being five years or more.

Key Points:

  • Focus is on genuine smaller companies where information gaps exist and the potential for mispricing and return is greatest. 
  • Experienced management team - Gervais Williams has been investing in smaller companies since 1985 and has a proven track record. Together with Martin Turner they make a strong team.
  • The fund managers invest for the long term but will take advantage of short-term market moves to adjust holdings and their sizes.
  • Actively managed and differentiated to others in its sector.
  • A highly diversified fund invested across a range of small and micro-cap companies.
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.

Selecting companies based on their individual attributes (this management style is known as taking a bottom-up approach), with a diversified portfolio of primarily smaller and micro-sized companies. The fund does not follow any particular market index. The focus is on genuine smaller companies which are often not well-known, are under-researched by investment analysts and where there is potential for the value of the company to be mispriced.

A lack of investment analyst coverage means that very little information is published about the company and its prospects, which means that its potential true value may not be fully understood and as such may not be reflected in the company’s share price.

The stock selection process uses a ‘traffic-light’ system to assess the criteria below before investing and to reassess stocks that are help in the portfolio:

  • Are there prospects for rising turnover?
  • Can margins be sustained?
  • Does the management team make decisions the fund managers feel will build real intrinsic value?
  • How much financial flexibility 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.
  • Investment in the securities of smaller and/or medium sized companies can involve greater risk than may be associated with investment in larger, more established companies. The market for securities in smaller companies may be less liquid than securities in larger companies. This can mean that the Investment Manager may not always be able to buy and sell securities in smaller and/or medium size companies.
  • The Fund does not use derivatives extensively, although it may use them in an attempt to reduce risk, reduce costs and to generate additional income. Investing in derivatives carries the risk of reduced liquidity, substantial loss and increased volatility in adverse market conditions. Derivatives may expose the Fund to credit risks of counterparties, who may not meet payment obligations. The use of derivatives may result in the fund being leveraged (where economic exposure and thus the potential for loss by the fund exceeds the amount it has invested) and in these market conditions the effect of leverage will magnify losses.
  • This fund may experience high volatility due to the composition of the portfolio or the portfolio management techniques used.

Objective

The objective of the Fund is to provide 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.

Gervais Williams
Fund manager
Martin Turner
Fund manager

Fund facts

Fund launch date14 December 2012
IA sectorUK Smaller Companies
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November

Fund facts

Fund size£83.0m
Fund launch date14 December 2012
IA sectorUK Smaller Companies
Fund typeOEIC
Base currencyGBP
Valuation point12:00 midday
Accounting dates
Final - 31 May
Interim - 30 November