Edison issues update on Miton Global Opportunities

RNS Number : 9445D

Miton Global Opportunities PLC

05 February 2018

 

London, UK, 5 February 2018

Edison issues update on Miton Global Opportunities (MIGO)

Miton Global Opportunities (MIGO) seeks to achieve capital growth, primarily through exploiting the pricing inefficiencies of investment trusts. The manager, Nick Greenwood, has over two decades of experience in identifying funds trading at deep discounts to embedded value. The unconstrained mandate also focuses on portfolio diversification across a broad range of asset classes and countries. Share price performance over the past two years has been strong in absolute terms and relative to global indices. Added to successful board initiatives to improve liquidity and promote the trust, MIGO has attracted significant interest from investors, and its shareholder base has rebalanced towards self-directed retail investors. The shares currently trade at a 1.4% discount to NAV, a significant narrowing from the five-year average discount of 7.9%. The board is currently seeking shareholder approval for a further issue of up to 10% of share capital.

MIGO currently trades at a 1.4% discount to NAV, a significant narrowing from its historic trend of trading at a persistent 8-12% discount to NAV. In addition to good fund performance, this also reflects successful initiatives taken by the board to improve MIGO's appeal to investors. The board remains committed to managing the supply and demand for MIGO, and has requested shareholder approval for a second issue of new shares equivalent up to 10% of issued share capital.  

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