||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Miton Worldwide Share Discussion Threads
Showing 26 to 49 of 50 messages
|Correction post 26 must be for another group fund.
MWGT now called MITON GLOBAL OPPORTUNITIES PLC
|Yes. These have held up well over the last few weeks. Looked at this investment trust a few times, but don't like its strategy. I don't like buying cheap rubbish which is what this trust effectively does through buying orphan funds. Much better to buy quality at a smaller discount in my view. Long term returns here are poor.|
|Mopping up TCF now holding 6.93% :)
|Mentioned on P.11 of the latest issue of Investment Trust Insider:
|RUG cash comming in :)|
|Another vote of respect from Premier now holding 8.03%
|Wow Premier collecting 7.28% takeover rumours? :)
|Hi bones30, What is it that interests you here?|
|This one looks interesting.|
|Is the Miton mentioned in the article below the same?
|Flag counter added.|
|To be fair to management their strategy is to only achieve £ 3 month LIBOR + 2% and they are above this on NAV but below on share price. Its a very odd vehicle as it's record against an undemanding target is very poor. Having said that it does provide investors with a non-correlated equity asset if you are looking for fairly poor returns.
However, in 2008/09 it's performance was worse than the FTSE All Share Index - so with this trust you seem to get:
1. Under-performance against equities;
2. No income; and
3. Volatility on a major market set-back.
Hmmm difficult to see why Nick Greenwood is still in place after 10 years of poor returns buying orphan funds that no-one wants, probably for a good reason.
If you look at the Diverse Income Trust or The Investment Company, both run by Miton they are much better.|
|Praipus, I don't dare short right now but spread risk over lots of different asset classes. I particularly like us$ denominated index linked funds!
Topinvest, I see your point and prefer to buy this type of trust when it is deeply out of favour, which is why I have only nibbled at this point.|
|Praipus - I have over 300 individual companies in my portfolio so won't start that list. This is not one of them!|
|Deepvalueinvestor: As a bear what are you shorting and how did you choose them?
Topvest: Interesting so what is in your portfolio and why?|
|Yes, but if the market crashes these will as well, even if it's just the discount widening to 20-30%. They are probably a good buy at the right point in the cycle, given the discount on the underlying portfolio, but not tempted now. A 25% discount on a poor quality asset is not actually that attractive. 50% yes, 25% no.
My view is that a 10% discount to a 5% premium is worth being paid on a quality asset. On a dog you need a 50% discount at least to make it attractive. This is not deep value, its reasonably cheap rubbish.
There are other trusts out there with 30+ years of market beating returns on discounts.
Not sure how the Fund Manager has kept his job here. I would have thought that Miton would have sorted this trust out by now.|
|The shares trade at 11% discount and underlying investments trade at 25%. I can see 10% annualised returns even if markets go sideways. In short, a growth investment for a bear?|
|Hmm - don't deny that this is a deep value fund, but I think the share price and net asset value will pull back sharply on a big sell-off. It did 5 years ago. Lots of better absolute return trusts around in my view like Capital Gearing, The Cayenne Trust, Personal Assets, Ruffer etc., and they avoid "cigar butts". I'm a value investor, but retain a quality threshold as well.|
|Topvest. I am a bear so quite happy buying this for my small cap exposure. I am expecting a marginally positive annual return over the next five years versus significant losses elsewhere when the bubble finally bursts.|
|I had a look at these a few weeks back. Decided to stay clear as the investment portfolio is full of orphan funds. Distinct lack of quality and the discount on underlying investments is narrower than it has been for some time. No doubt it will continue to make steady returns, but can't see it setting the world alight with the rubbish they have in the portfolio.|
|Impressed with the manager and have started buying after nav hits all time high of 170.8p. Aswell as an 11% discount on the fund, the Underlying investments also trade at a 25% discount. One for the patient though.|
|Yeildsearch posted this on the :WAM thread (click here)
Yieldsearch - 13 Feb'12 - 09:10 - 633 of 636