Fact sheet: CF Miton UK Value Opportunities

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
UK GROWTH
Sector
UT UK All Companies
Fund type
OEIC
Primary aim
GROWTH
Why Money Observer Rates CF Miton UK Value Opportunities

Rated Fund 2015-2017. An experienced manager picks up the reins

This fund got a new manager in 2016 but he is someone who had managed a fund previously rated by Money Observer. Andrew Jackson already had a successful track record running the Ecclesiastical UK Equity Growth fund, so we think he can also produce good returns with this fund.

He has the freedom to invest in the best opportunities across the market capitalisation spectrum, though he tends to favour small and medium-sized companies.

He will continue to run a concentrated portfolio of around 65 stocks and, while he will seek to achieve growth, capital preservation will be a core consideration.

Jackson is a follower of the 'GARP' (growth at a reasonable price) investment philosophy. He identifies companies that are out of favour with other investors, but whose prospects he feels are improving.

He looks at a company's growth and earnings prospects before its valuation, although value is also an important consideration. He also likes to run his winners if he still believes in a company's growth prospects.

Since taking over the fund he has reduced its exposure to the UK consumer because of the uncertainty surrounding Brexit in favour of companies with exposure to overseas markets. Some of the fund's existing holdings already met this criteria, but he had been adding others.

He has also adopted a more pro-cyclical stance, although that has its own risks. Investments are always made on a stock-by-stock basis.

3 Year Performance
Fund Performance51.1%
Average of Rated Funds Group47.2%
Sector Performance24.9%
Fund information
Fund name
CF Miton UK Value Opportunities B Inst Acc
Fund manager company
Miton Asset Management
Fund type
OEIC
Fund managers
  • Andrew Jacksonsince 30/06/2016
Accolades
Fund objective
The investment objective of CF Miton UK Value Opportunities Fund is to achieve long-term capital growth. The fund will invest mainly in UK companies which the Investment Manager considers to be undervalued by the market.
Benchmark
  • No Specified Index
Investment style
Value
Investment method
Shares
Quick stats
1 Year return
19.6%
1 Year rank in sector
133/273
Sector
UT UK All Companies
Yield
1.8%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.83%
Fund size
£314m (£532m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
80
Mid price
192.52
Top in this sector
Fund name1 Year
VT The Beagle38.1%
MI Chelverton UK Equ Grth37.6%
Unicorn UK Growth36.4%
MFM Bowland33%
SVS Church House DeepValInvts32.7%
...more in UT UK All Companies

Performance snapshot

Holdings snapshot

  • UK96.4%
    Money Market3.6%
  • Capital Goods14.2%
    Consumer Durables10.9%
    Materials8.6%
    Services7.5%
    Software7.1%
  • International Equities96.4%
    Cash & Cash Equivalents3.6%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund0.3%9.3%18.8%19.6%51.1%-
Sector-1%3.7%8.7%19.1%24.9%74.4%
Rank within sector33 / 28010 / 2806 / 278133 / 2738 / 259-
Quartile1st1st1st2nd1st
Calendar performance
 YTD - 20172016201520142013
Fund17.9%-1.6%23.6%11.2%-
Sector8.1%11.2%3.7%0.6%25.7%
Rank within sector8 / 278262 / 2705 / 2624 / 257-
Quartile1st4th1st1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
8.7
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.81
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
11.8
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
9.46
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.7
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.39
Price movement
52 week high194.29
52 week low135.45
Current bid price-
Current offer price-
Current mid price192.52
Region
1UK96.36%
2Money Market3.64%
Industry sector
1Capital Goods14.23%
2Consumer Durables10.89%
3Materials8.63%
4Services7.54%
5Software7.08%
6Retail6.89%
7Banks6.69%
8Hardware5.87%
9Real Estate5.45%
Asset type
1International Equities96.36%
2Cash & Cash Equivalents3.64%
Individual holdings
1IQE PLC2.72%
2JD SPORTS FASHION PLC2.66%
3CONVIVIALITY PLC2.65%
4COSTAIN GROUP2.57%
5BELLWAY2.52%
6MELROSE INDUSTRIES PLC2.37%
7LLOYDS BANKING GROUP PLC2.32%
8DART GROUP PLC2.25%
9SYNTHOMER PLC2.13%
Management
Fund manager group
Miton
Fund manager company
Miton Asset Management
Fund type
OEIC
Fund objective
The investment objective of CF Miton UK Value Opportunities Fund is to achieve long-term capital growth. The fund will invest mainly in UK companies which the Investment Manager considers to be undervalued by the market.
Benchmark
  • No Specified Index
Investment style
Value
Investment method
Shares
Fund managers
NameSinceBiography
Andrew Jackson30/06/2016Andrew Jackson joined Miton Group plc in June 2016 and became manager of the CF Miton UK Value Opportunities Fund on 1 July 2016. Prior to Miton, Andrew worked at EdenTree Investment Management where he was fund manager of the Ecclesiastical UK Equity Growth Fund from November 2003 until July 2015. During his career he has been responsible for UK and Irish equity investments at Canada Life, managed the specialist UK Small Cap Funds for Lloyds Investment Managers (later Hill Samuel Asset Management) and helped to set up the Smaller Companies Desk at SG Asset Management.
Compliance
IA Recognised, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
CF Miton UK Value Opportunities A Ret Acc
Initial charge3%
Annual charge1.5%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.58%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price186.49
CurrencyGBX
Price updated26/06/2017
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeICCZ
CF Miton UK Value Opportunities A Ret Inc
Initial charge3%
Annual charge1.5%
Min single investment£1,000
Min regular saving£1,000
Available in ISAYes
Ongoing charge (OCF)1.58%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price180.02
CurrencyGBX
Price updated26/06/2017
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeICDA
CF Miton UK Value Opportunities B Inst Acc
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price192.52
CurrencyGBX
Price updated26/06/2017
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeICDB
CF Miton UK Value Opportunities B Inst Inc
Initial charge5%
Annual charge0.75%
Min single investment£1,000
Min regular saving£1,000
Available in ISANo
Ongoing charge (OCF)0.83%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price180.05
CurrencyGBX
Price updated26/06/2017
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi codeICDC
Data provided by

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