LF Miton UK Value Opportunities Fund B Institutional Accumulation

UK Growth

Rated Fund 2015-20. Pragmatic way of accessing UK markets    

We stuck with this fund when it had a manager change in 2016, with new incumbent Andrew Jackson bringing his own style and fundamentally changing the process, and recent performance shows that decision has paid off. Jackson adapts his style depending on market conditions, but considers himself a value investor with a quality overlay - avoiding distressed or indebted companies. After a strong first 18 months, performance faltered as a sell-off in economically sensitive stocks hit smaller companies the hardest, but it has rebounded strongly over the past year.

Jackson has the freedom to invest in the best opportunities across the market capitalisation spectrum, but had almost 80% in small and medium-sized companies at the end of 2019. He focuses on the company first - its growth and earnings prospects - and valuation second, aiming to identify companies whose prospects he feels are improving despite them being out of favour with other investors.

Jackson took the reins of the fund four days after the EU referendum in June 2016 and was handed a domestically orientated portfolio that owned companies exposed to the UK housing market, for example, and had been positioned for a "Bremain" scenario. He held on to companies that were knocked back by the Brexit vote and sold them when their share prices came back, to introduce more internationally focused stocks. More recently, he has been adding to companies with a domestic focus in the hope that progress will be made in the Brexit negotiations and asset allocators will return to UK equities - something that has become increasingly likely following Britain's recent election result.

Narrative and ratings content all as of January 2020.  

See all Money Observer rated funds
Name
LF Miton UK Value Opportunities Fund B Institutional Accumulation
Manager
Link Fund Solutions Limited
Type
Open Ended Investment Company
ISIN
GB00B8QW1M42
Sector
UK All Companies
Launched
25/03/2013
OCF
0.88 %
Risk Rating
3
3 Year Sharpe
0.50
3 Year Alpha
5.17
Yield
1.9 %
Benchmark
FTSE AllSh TR GBP
The investment objective of the 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.
Holding %
Dart Group PLC 3.36 %
Pets at Home Group PLC 3.11 %
Future PLC 3.08 %
discoverIE Group PLC 2.82 %
Bellway PLC 2.73 %
Ashtead Group PLC 2.62 %
Intermediate Capital Group PLC 2.33 %
TT Electronics PLC 2.31 %
Smurfit Kappa Group PLC 2.26 %
ITV PLC 2.17 %
Region %
United Kingdom 95.35 %
Sector %
Industrials 27.55 %
Consumer Cyclical 22.52 %
Technology 13.77 %
Financial Services 10.03 %
Real Estate 7.82 %
Communication Services 7.28 %
Basic materials 6.89 %
Name
Link Fund Solutions Limited
Address
EC2V 7NQ, London, United Kingdom
UCITS
Yes
Legal Structure
Open Ended Investment Company

Managers

Andrew Jackson
Joined 07/01/2016

Andrew 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 Ecclesiastical 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.

Data provided by Morningstar.

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You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.