Data is at market close and rounded to 2 decimal places.
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.
The Premier Miton US Smaller Companies Fund is a genuinely smaller companies fund that is focused on significant growth opportunities in the US. The fund managers will invest at least 80% in smaller companies listed, quoted or traded in the US. The smaller companies that the fund invests in will have a market value of US$ 100 million to US$ 6 billion at the time of purchase.
The stock selection process looks to identify smaller, fast growing companies at an early stage in their evolution. These companies will have high revenue growth rates usually because of inherently disruptive business models. The managers believe that companies capable of delivering consistently strong sales and earnings growth are likely to produce attractive returns over time, particularly when compared to larger, more mature corporations.
There will be a strong emphasis on companies which can materially increase their industry market share by virtue of having developed revolutionary products or services, which cannot be easily replicated by competitors. There will be a focus on companies with low investment analyst coverage where there is a greater probability that the shares are mispriced because there is less research on these companies.
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.
Wider macro trends are monitored and specific industries deemed at risk of significant setbacks are eliminated from the portfolio.
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.
|Fund launch date||14 March 2018|
|IA sector||North American Smaller Companies|
|Valuation point||12:00 midday|
Final - 31 May
Interim - 30 November