Miton Share Discussion Threads

[topvest] 03/11/2017 19:14

Yes Gervais is always very interesting at the macro level. He seems to avoid talking about individual stocks which is a little disappointing sometimes!

[tomps2] 03/11/2017 16:03

Here's the presentation by Gervais Williams, given on 25.10.17.

A great insight to his view of the current market, asset mis-allocation, flat production, changing social and political attitudes, along with the opportunities for the investor.

He goes on to talk about Miton Group, their fund strategies and their latest results.




Very interesting watching - about 30 mins.

[tomps2] 17/10/2017 10:32

Do you want to attend a presentation by Gervais Williams, Miton Group next Wednesday 25th October at 5pm, WC2?

Event organised by PIWorld - Progressive Equity Research - MHP

To attend contact Tamzin on this link:

[robow] 27/9/2017 13:28

thanks nimbo

[nimbo1] 27/9/2017 12:36

tipped by ST today

On the upgrade

Building on a major earnings beat for the 2016 financial year, Miton Group’s (MGR:41p) assets under management (AUM) continue to build strongly in a benign environment for equities, so much so that analyst Stuart Duncan at house broker Peel Hunt has upgraded his numbers yet again.

At the time of the pre-close trading update in mid-July, Miton revealed that AUM had surged by 15 per cent to £3.35bn in the first half, buoyed by net inflows of £195m and £254m of positive market movements, an outcome well ahead of Mr Duncan’s year-end target of £3.3bn, prompting an upgrade to £3.5bn. However, that target was achieved by the end of August, so with a higher exit run-rate of management fee income Mr Duncan has raised his numbers again, predicting a near-10 per cent rise in revenues to support a 14 per cent hike in pre-tax profit to £5.8m. On this basis, expect full-year EPS of 2.6p and a 10 per cent boost in the dividend per share to 1.1p. But even these new forecasts could prove conservative.

That’s because Miton produced interim pre-tax profits of £2.9m, well ahead of Peel Hunt’s £2.6m forecast, thus skewing the earnings risk to the upside if the positive flows into its funds continues, a realistic possibility given that 80 per cent of Miton’s 15 funds are ranked in the first or second quartile by performance. Indeed, Miton posted net fund flows for all bar two weeks in the first half, and continues to diversify its offering – CF Miton Global Infrastructure Income Fund launched in March.

The company’s robust cash generation is worth noting. Even though Miton spent £2.6m repurchasing 6.6m of the 177.5m shares in an earnings-enhancing share buy-back programme and paid out a £1.7m final dividend for the 2016 financial year, net cash still increased by almost 5 per cent to £18.2m, a sum worth 10.6p a share.

The appointment of Jim Pettigrew as non-executive chairman is also worth flagging up as he has over 30 years' experience in business and finance, principally within the financial sector, having formerly been the chief executive at spread betting and financial derivatives firm CMC Markets (CMCX:152p), chief operating officer at Ashmore (ASHM) and finance director at money broker ICAP.

So, having initiated coverage at 23p ('Poised for a profitable recovery', 4 Apr 2015), I continue to see upside to my 50p target price as I feel the earnings upgrade cycle has yet to run its course (‘On the upgrade’, 18 Jul 2017). Priced on less than 12 times earnings forecasts net of cash, and offering a 2.7 per cent prospective dividend yield, Miton’s shares rate a buy.

[gersemi] 18/7/2017 14:08

Tipped by ST in the IC, again

[29palms] 18/7/2017 14:06

Starting to get noticed and waking up from that sideways move in the last 6 months.
Yesterday and today scaling new 52 week highs, always a good sign.
As always,
DYOR

[topvest] 13/7/2017 19:45

I'm talking investment trusts or closed end funds being opened in parallel with the open ended funds. About time they moved from 4 trusts to 5 in my view.

[glawsiain] 13/7/2017 07:59

topvest- yesterday's rns said this:
"-- Jim Wright joined the group in January 2017 to lead the global equity infrastructure strategy. The new CF Miton Global Infrastructure Income Fund ends the half year with AuM of GBP14m"

[topvest] 12/7/2017 20:35

Yes, looks reasonable. Need to maintain the growth this time. What about an infrastucture or UK value investment trust?

[robow] 12/7/2017 13:20

I'm happy with that update

[skyship] 31/5/2017 16:21

Like this outfit, so very pleased to see their "Holdings" RNS over at small propco PCA this morning. They doubled their stake in PCA to 9.7% with a 1.2m share purchase @ 355p from Schroders. Shares responding positively with a very nice Reverse Head & Shoulders breakout - shown on the thread c8days ago.

A very well timed buy by Miton.

[topvest] 29/5/2017 20:29

Thanks - interesting. Read the book as well a few months back.

[tomps2] 29/5/2017 16:00

Gervais Williams presenting & interviewed at the Redleaf breaking the mould capital markets day.



Gervais Williams gives a fascinating lecture based on his book The Retreat of Globalisation.

The rise of the small caps, disruptive technology, the next big trend, innovation drives productivity, international landscape: Brexit and Trump.

Introduction – 00:24
Compression of bond yields – 3:03
Increase in the rest of the markets – 5:35
Allshare growth – 7:19
More investment in large caps than small caps – 8:16
What’s next? – 9:52
The end of dividend growth – 11:17
The peak of world productivity – 14:17
Active stock selection- 15:53
World capex – 16:42
The rise of small caps – 19:06
Increase in takeovers – 21:48
The importance of good service levels – 23:24
Investment trends – 26:35
Conclusion – 27:09

[thaiger] 16/3/2017 12:23

See my post of 90 &95......still happy holder.....or should I say "happier holder"!!

[robow] 16/3/2017 09:23

Yes seems to have stabilised now with FUM increasing

[topvest] 16/3/2017 08:51

A positive set of results. Massive hike to the dividend. Good potential on the newish funds. Fund performance strong. Looks very positive going forward. I like the way that this group bounces back from set-backs quickly.

[chimers] 19/1/2017 01:09

Yeah what it means is people who already get highly paid to GAMBLE other peoples money get "bonuses" whether they do well or not.

The way to play Miton is to cherry pick their top investments and invest in them direct.

[sleepy] 18/1/2017 22:11

Anyone understand the bonus scheme? Highly dilutive?

[thaiger] 18/1/2017 20:22

Very positive trading yesterday......yet share price only moved up slightly.......happy holder!

[a2584728] 22/12/2016 16:29

Clearly expecting good things here

[topvest] 05/11/2016 13:06

Of course it might be Ian Dighe that is causing the trouble rather than Gervais. He's moved to a Non-Executive role at the same time.

[topvest] 05/11/2016 07:32

Yes, unfortunately they do seem to have a bit of a problem holding onto people. This is the Gervais Williams show though, which may be part of the problem with other fund managers. They need to improve on this score if they are going to move the business to the next level. This is a people business and, at best, it seems to be 2 feet forward and 1 foot back all the time.