Premier Miton UK Multi Cap Income Inst B

Targets an attractive level of dividends and capital growth from UK equities of all sizes

  • 228.90p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 347.00p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 1.00% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 0.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 0.81%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 3.30%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 18 June 2021

The Miton UK Multi Cap Income Fund aims to provide attractive levels of dividends coupled with capital growth over the long term. The fund is able to invest across the market cap spectrum of UK quoted companies, and will make selections on the basis that they have scope to grow dividends at a faster rate over the long-term when compared to other funds in the sector.

Fund summary

Sector UK Equity Income
Structure OEIC
Launched October, 2011
Size £1,003m
Yield 3.30%
Charging basis Capital
Dividends paid 31 Jan, 30 Apr, 31 Jul, 31 Oct

Charges

Standard initial charge 1.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.81%

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Investment process

The portfolio's holdings will be very similar to those of The Diverse Income Trust, a LSE listed closed-ended investment company run by the same managers.

Manager research

Average monthly relative returns

  • 16/17 -0.43%
  • 17/18 0.53%
  • 18/19 -0.77%
  • 19/20 1.24%
  • 20/21 2.80%

Bestinvest MRI

  • 3 years 1.09%
  • 5 years 0.67%
  • Career 0.71%
  • 3 years 90.80%
  • 5 years 91.30%
  • Career 100.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Gervais Williams

Williams graduated from Liverpool University in 1980 with a degree in Engineering. He joined NatWest Fund Managers in 1993 (which latterly merged with Gartmore) and headed their UK Small Cap team until 2010. Previously, he worked for Thornton from 1990, where he was involved in the formation of their new strategy unit for a smaller companies investment trust, and for Throgmorton for 5 years where he was ultimately a director responsible for segregated smaller companies portfolios. He is now managing director of MAM Funds PLC.

Track record

Gervais Williams has 24 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.71%. During the worst period of relative performance (from July 2018 - December 2019) there was a decline of 30% relative to the index. The worst absolute loss has been 57%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is more than 99%.

Periods of worst performance

Absolute -57.00% (August 2000 - March 2003)
Relative -30.00% (July 2018 - December 2019)

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Top 10 holdings

Data accurate as at 31 August 2020

3.17% Cmc Markets Plc
2.88% Centamin Plc
2.17% Randall & Quilter Invt Hldgs Ltd
2.1% Admiral Group Plc
1.87% Ig Group Hldgs
1.85% Highland Gold Mining
1.7% Diversified Gas & Oil Plc
1.68% Strix Group Plc
1.67% Morrison(Wm.)Supermarkets
1.63% Gamesys Group Plc
Source: Trustnet

Sector breakdown

Financials 33.00%
Materials 17.00%
Industrials 8.00%
Energy 8.00%
Information Technology 8.00%
Consumer Discretionary 8.00%
Consumer Staples 6.00%
Real Estate 3.00%
Utilities 3.00%
Communications 2.00%

Key Investor Information - Income

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Key Investor Information - Accumulation

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