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.£75.1m
Last close276.00p
High / Low (52 weeks)297.0p / 233.2p
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 achieve capital growth, primarily through exploiting the pricing inefficiencies of investment trusts. The manager, Nick Greenwood, has over two decades of experience in identifying funds trading at deep discounts to embedded value. The unconstrained mandate also focuses on portfolio diversification across a broad range of asset classes and countries. Share price performance over the past two years has been strong in absolute terms and relative to global indices. Added to successful board initiatives to improve liquidity and promote the trust, MIGO has attracted significant interest from investors, and its shareholder base has rebalanced towards self-directed retail investors. The shares currently trade at a 1.4% discount to NAV, a significant narrowing from the five-year average discount of 7.9%. The board is currently seeking shareholder approval for a further issue of up to 10% of share capital.

Last updated on 05/02/2018

Key management

Nick Greenwood, Fund manager

Company address

Beaufort House
51 New North Road
United Kingdom
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