Miton Global Opportunities plc (“the company”) has issued 50,000 new shares to meet growing demand as a result of its distinctive investment strategy and strong performance.
The company invests in specialist investment trusts, with a particular focus on the opportunities presented by under-researched and increasingly illiquid investment companies which may be overlooked by, or inaccessible to, larger investors.
Current portfolio themes include Berlin residential property, private equity and India, with top ten holdings such as Taliesin Property Fund, Pantheon International plc and India Capital Growth Fund Limited.
The company has delivered a return of +34.8% over one year in share price terms. Over five years the share price is up by +104.6%. In the last 12 months the discount has narrowed sharply from -7.4%, and shares now trade at a premium of 1.7% today.
Nick Greenwood, fund manager of Miton Global Opportunities plc says: “We believe that nimble and patient investors in alternative investments can be handsomely rewarded. There have been significant structural changes in the wealth management community which has traditionally purchased investment trusts, with consolidation limiting their ability to invest in specialist trusts. This means discounts have increased, and liquidity has fallen, creating many undervalued opportunities for us to invest in. Our unconstrained, fully diversified mandate gives us the ability to uncover and exploit fund specific anomalies and pricing inefficiencies, unlocking embedded value for our investors across a diversified wide range of sectors.”
The shares were issued at a price of 274.25 pence per share, a premium to the last published net asset value per share. The total number of ordinary shares in issue now stands at 25,329,985.
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Media enquiries to:
Sally Moore / Monika Witkowska, Four Broadgate
Tel: +44 (0) 20 3697 4200
Notes to editors
The value of stockmarket investments will fluctuate, which will cause prices to fall as well as rise and investors may not get back the original amount invested. For Investment Professionals only. Not for onward distribution. No other persons should rely on any information contained in this document.
Source of performance data: Morningstar and FE, as at 30/09/2017, basis: bid to bid, net income reinvested and net of fees in UK Sterling terms unless otherwise stated. Source for other data: Miton/Capita and Bloomberg, as at 30/09/2017 unless otherwise stated.
The views expressed are those of the fund manager at the time of writing and are subject to change without notice. They are not necessarily the views of Miton and do not constitute investment advice.
Any mention of a specific stock is not a recommendation to buy or sell.
Miton has used all reasonable efforts to ensure the accuracy of the information contained in the communication, however some information and statistical data has been obtained from external sources. Whilst Miton believes these sources to be reliable, Miton cannot guarantee the reliability, completeness or accuracy of the content or provide a warrantee.
Investors should read the Trust’s product documentation before investing including, the latest Annual Report and Accounts and the Alternative Investment Fund Managers Directive (AIFMD) Disclosure Document as they contain important information regarding the trust, including charges, tax and specific risk warnings and will form the basis of any investment.
Issued by Miton, a trading name of Miton Trust Managers Limited. Miton Trust Managers Limited is authorised and regulated by the Financial Conduct Authority and is registered in England No. 220241 with its registered office at 6th Floor, Paternoster House, 65 St Paul’s Churchyard, London, EC4M 8AB.