Miton Uk Microcap Share Discussion Threads

[topvest] 10/8/2016 21:16

Well done for selling Cenkos. I took some money off the table, but not enough. Think they will bounce back at some point though.

[quepassa] 10/8/2016 09:34

You also like Cenkos . I used to but not now. I bought at 50p and sold at 200p+ but now they are in a bad way and I wouldn't touch them with a bargepole at that price given what has happened.

I guess different views make the market.

The key to winning with smaller/specialist/exotic trusts is not to buy them for the long-term but to buy them for the market swings.

ALL IMO. DYOR.
QP

[essentialinvestor] 10/8/2016 09:14

Would only interest me on a fat discount to NAV.

I like ACIS ATM however difficult to add in any quantity,
It's smaller rather than micro cap.

[topvest] 10/8/2016 08:28

Thanks - interesting, that we have such contrary views on these!
Athelney Trust have a pretty good 20 year record, albeit the manager does have a tendency to walk into the odd value trap.
Blue Planet is a shockingly bad trust in my view - just look at the long term effects of high costs and hyperactive trading.
Gervais is a bit better than that in my view. The Diverse Income Trust has been pretty good.
I do like the Chelverton Small Company Dividend Trust though, so maybe that's a bit of common ground!

[topvest] 09/8/2016 16:47

I wouldn't say so. It clearly holds some riskier micro-caps - some of which may do well, some of which are likely to be dogs. There is a place for such micro-cap funds though and I think Gervais Williams is better than most at taking advantage of them.

[quepassa] 09/8/2016 15:04

a real dog.

ALL IMO. DYOR.
QP

[jonwig] 09/8/2016 14:40

OK - at least thy're in an ISA - lovely!

[topvest] 09/8/2016 12:49

No, I think a dividend policy is always good and they should start it off now. Hopefully, will jump next year as the higher investment balance generates more income versus the more fixed cost base. It's never going to yield much, but better to have a circa. 1% yield in due course rather than nothing in my view.

[jonwig] 09/8/2016 12:00

Gosh, a dividend. 0.14p - I'd rather they kept it since performance is quite OK, let them re-invest instead!

[jonwig] 07/7/2016 06:59

Includes video interview:

The 'Brexit' referendum result has dealt a blow to UK smaller companies as investors have shied away from stocks perceived to be exposed to a weakening economy and reduced consumer spending.

In this video interview, Gervais Williams, an experienced smaller companies fund manager, argues many 'small caps' could benefit from a retreat in globalisation that 'Brexit' may inspire.

Moreover, Williams, co-manager of the top-performing Diverse Income (DIVI ) investment trust and its more recently launched stalbemate, Miton UK MicroCap (MINI ), explains that the fall in the pound and a rise in inflation may not be as harmful as has been assumed.

[jonwig] 15/6/2016 17:38

Agreed! I'm not likely to sell these in any event: I remember being taught at school that the small early mammal species survived the dinosaur extinction and went on to prosper.

[shavian] 15/6/2016 16:39

Back to a small discount now. Will probably be hammered in the event of a Brexit vote at which point they will be worth buying.

[skyship] 10/4/2016 08:42

Diverted here by the goings-on at MGR (managers giving notice). I reckon this will do well; but at 58p they are at an unwarranted premium.

[topvest] 03/2/2016 20:45

Well I'm verging towards "out" at the moment, but will listen to what business leaders say over the next 6 months. There is certainly a lot of scaremongering. At the end of the day UK markets will be led by global markets though and I don't think it will make much difference to the real economy or shares.

[jonwig] 03/2/2016 08:29

As pensioners with a decent-sized portfolio, the Brexit referendum is a cause for some worry!

[topvest] 02/2/2016 19:28

Hmm. I'm inclined to buy equities on the dips. I think we are probably 6 months into a mini-bear market. If you believe the 17.6 year bull and bear market cycle then we are only a couple of years from the start of a new bull market.

[jonwig] 02/2/2016 07:13

Issue of up to 60m "C" shares at 50p:



Personally, I'm not inclined to buy any equities at the moment!

[jonwig] 17/12/2015 07:44

The maiden set of results (H1 from launch) is out.



Really excellent performance of assets against the market.

Over the first six month period the Net Asset Value of the Trust rose from 49.0p on 30 April, (the 50p per share less the costs of the issue) up to 52.42p on 31 October 2015. This is an appreciation of 7.0%.

I think they were fortunate not to raise as much as hoped at the start, and so only bought their convictions.

[topvest] 04/8/2015 21:09

8M away at 53.6p - good for the future of this trust. I would suggest that they need to get it to £100m within a year or two to give it critical mass.

[jonwig] 04/8/2015 07:23

Tap issue (non-pre-emptive) of up to 9.99m new ordinary shares. I think that's the maximum for each financial year. It will put a dampener of premium to NAV, I imagine.

[topvest] 03/8/2015 12:27

Yes, wasn't too keen on that investment. Overseas quarry operation with a bit of blue sky. Not sure it was the best investment of all time.

[jonwig] 03/8/2015 07:34

I see Fox Marble [FOX] has just issued an operational update:



Are they accident prone? Or could it be a buying opportunity?

At least MINI has only about 1.2% of assets in the company.

[jonwig] 25/7/2015 14:39

jaws, thanks, I hadn't got to looking at that as they don't seem to RNS it.

But they're invested in a company called "Norcross" - that's rather slipshod, no?

[jaws6] 25/7/2015 13:53

it says 61 % invested in this link ,just see June 15 report. header link

hxxp://www.mitongroup.com/index.php/investment-professionals/funds/investment-trusts/growth/uk-microcap-trust-plc/#