Miton Global Opportunities (MIGO)

Business description

MIGO's objective is to outperform three-month LIBOR plus 2% over the longer term, mainly through exploiting inefficiencies in the pricing of closed-end funds. The fund aims to provide a better return over the long term than shareholders would receive by placing money on deposit. The benchmark is only a target and is not a point of reference for the manager in selecting the portfolio. In its publications the trust also shows performance of the FTSE All-Share and MSCI World Index (£) for comparison.

Stock data

Market cap.£70.3m
Last close276.25p
High / Low (52 weeks)276.8p / 208.5p
Stock market listing
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Company news

Investment summary

Miton Global Opportunities (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.

Last updated on 14/07/2017

Key management

Anthony Townsend , Chairman
Nick Greenwood, Fund manager
David Barron, Director of Investment Trusts and Product Str

Company address

Beaufort House
51 New North Road
Exeter
EX4 4EP
United Kingdom
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