Miton Global Opportunities PLC Edison issues review on Miton Global Opportunities

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Miton Global Opportunities PLC

14 July 2017

London, UK, 14 July 2017

Edison issues review on Miton Global Opportunities (MIGO)

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.

At 12 July 2017, MIGO's shares traded at a 0.7% premium to cum-income NAV, surpassing the 10-year low discount of 0.1% reached in early May 2017 and comparing with average discounts over one, three, five and 10 years of 5.6%, 8.6%, 9.0% and 9.5% respectively. The weighted average discount of the underlying holdings at 30 June was 16.2%; this is also narrower than the historical average, although still wider than the 3.9% average for all investment trusts.

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July 14, 2017 07:59 ET (11:59 GMT)