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.£59m
Last close233.50p
High / Low (52 weeks)235.5p / 156.6p
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 returns in excess of those on cash by exploiting opportunities from pricing inefficiency among under-researched investment companies. With manager Nick Greenwood unconvinced by the near-term prospects for mainstream equity markets, the portfolio is developing more of a focus on specialist strategies and alternative asset classes. Recent performance has been strong and the trust has beaten its absolute benchmark (sterling three-month Libor +2%) over the last four discrete years (see below) and on a cumulative basis over all periods of five years and less (see page 6). Measures to raise MIGO’s profile and improve liquidity in its shares, including the engagement of Numis as broker and Frostrow Capital for administration, distribution and marketing, may be reflected in a narrowing discount.

Last updated on 07/09/2016

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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