Miton Global Opportunities has issued 50,000 new shares to meet growing demand as a result of its distinctive investment strategy and strong performance.
The company invests in specialist investment trusts, with a particular focus on the opportunities presented by under-researched and increasingly illiquid investment companies which may be overlooked by, or inaccessible to, larger investors.
Current portfolio themes include Berlin residential property, private equity and India, with top ten holdings such as Taliesin Property Fund, Pantheon International plc and India Capital Growth Fund Limited.
The company has delivered a return of +34.8 per cent over one year in share price terms. Over five years the share price is up by +104.6 per cent. In the last 12 months the discount has narrowed sharply from -7.4 per cent, and shares now trade at a premium of 1.7 per cent today.
Nick Greenwood (pictured), fund manager of Miton Global Opportunities, says: “We believe that nimble and patient investors in alternative investments can be handsomely rewarded. There have been significant structural changes in the wealth management community which has traditionally purchased investment trusts, with consolidation limiting their ability to invest in specialist trusts. This means discounts have increased, and liquidity has fallen, creating many undervalued opportunities for us to invest in. Our unconstrained, fully diversified mandate gives us the ability to uncover and exploit fund specific anomalies and pricing inefficiencies, unlocking embedded value for our investors across a diversified wide range of sectors.”
The shares were issued at a price of 274.25 pence per share, a premium to the last published net asset value per share. The total number of ordinary shares in issue now stands at 25,329,985.