Miton Global Opportunities: Still Finding Pockets Of Value After
Edison | Jul 16, 2017 04:46AM ET
Miton Global Oppurtunities PLC (LON:MIGO) seeks to provide absolute returns in excess of those on cash by investing predominantly in other closed-end funds that are under-researched, out of favour or trading on unwarranted discounts. The multi-asset portfolio, managed by Nick Greenwood, has performed strongly over the past 12 months, beating the total return from both UK and world equities and most of its multi-asset and absolute return peers. The introduction of a three-yearly redemption option may have helped to narrow the discount from its long-term average of c 9-10%. Meanwhile, the appointment of Numis as corporate broker and investment company marketing specialist Frostrow Capital has led to a significant increase in liquidity, as well as rebalancing the share register towards retail execution-only platforms as the discount has narrowed over the past 12 months.
Investment strategy: Value-orientated growth focus
MIGO’s manager, Nick Greenwood, is an experienced closed-end fund specialist, who seeks to generate returns by finding attractive investment companies whose valuations do not reflect their true worth. Greenwood uses his own knowledge base, proprietary research and frequent company meetings to help build a portfolio of c 30-50 funds covering a range of global markets and asset classes. Against a backdrop of high equity market valuations, a focus on discounted assets gives a margin of safety, as well as the potential for re-rating.
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Miton Global Opportunities - Still Finding Pockets Of Value After
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