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.
- Fund overview
- Investment approach
- Risks
The Premier Miton Worldwide Opportunities Fund invests primarily in collective investment schemes such as investment trusts and OEICS. The fund aims to provide capital growth over the long-term, being five years or more.
The fund invests globally and looks to invest in those investment trusts whose share price is at a significant discount to the value of the underlying assets (this means that the share price of the investment trust is trading at a lower price than the value of the underlying investments in which the investment trust invests). The manager will also invest in other collective investments such as OEICs and unit trusts to provide investors with an ideal balance of management styles.
The fund selects investments from a diversified range of global themes, whilst benefiting from the market inefficiencies commonly found in the closed ended sector. Occasionally, the fund will invest in funds which are not trading on a discount.
Key Points:
- Diversified global exposure - not reliant on one asset class/geography
- Mixed assets ranging from equities, private equity, commodities, and property
- Owns esoteric, overlooked assets that typically have low correlation to mainstream markets, and as such should perform differently to the main stock markets
The fund managers use their experience and skill in the closed ended investment companies market to select where they will invest. They will also use open ended investments according to economic conditions and to provide liquidity in the fund, the managers will diversify the fund relative to their views on markets and the economy.
They conduct a considerable amount of fundamental research, the screening process involves an extensive schedule of meetings with specialist managers. The investment trust market is highly inefficient, and the managers use their skill to identify trusts that have drifted from their fundamental value and as such are trading at the 'wrong' price. Effectively 'arbitraging between perception and reality'.
The fund managers may take exposure in other asset classes, which include commodities (such as gold and timber), private equity (through listed investments), hedge funds and specialist financial assets (such as loans and insurance policies). Exposure to these will be obtained through collective investment schemes or other investment companies.
- 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.
- For funds investing globally, currency exchange rate fluctuations may have a positive or negative impact on the value of your investment.
- Investment trusts can borrow money which can then be used to make further investments. In a rising market, this 'gearing' can enhance returns to shareholders. However if the market falls, losses will be multiplied.
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.
Fund facts
| Fund size | £57.3m |
| Fund launch date | 30 April 2003 |
| IA sector | Flexible Investment |
| Fund type | OEIC |
| Base currency | GBP |
| Valuation point | 12:00 midday |
Accounting dates | Final - 30 June Interim - 31 December |