Miton, an AIM-listed asset management group, is extending its multi asset fund range with the launch of the LF Miton Balanced Multi Asset Fund on 29 January 2018.
The globally invested, mixed asset fund will seek to deliver equity-like returns over the long-term, with an ability to temper the downside. The fund will be managed by David Jane, Anthony Rayner and Henna Hemnani, who collectively have over 50 years’ experience. The team has a strong track record, delivering top quartile performance for the MI Miton Cautious Monthly Income fund since its launch in 2011, and top quartile performance for the LF Miton Cautious Multi Asset fund and LF Miton Defensive Multi Asset fund since assuming management in June 2014.
As with the other Miton multi asset products, the fund will invest in baskets of individual securities rather than investing in other funds providing the additional benefit of keeping overall charges low. The fund is unconstrained by benchmarks giving it the ability to temper downside risk by aggressively managing equity exposure.
At launch the portfolio is expected to have around 70 per cent allocation to equities, 20 per cent to bonds and 10 per cent in cash. The largest equity exposures will be to Japan, Europe and Asia.
The management team takes a pragmatic investment approach, with investment selection and portfolio construction informed by key macro views and themes. Some of the themes the team is currently focused on include the digital revolution, robotics and the emerging consumer.
Neil Bridge (pictured), Miton’s Head of Sales, says: “The new fund is a natural addition to our outcome-driven, multi asset fund range sitting alongside our Defensive, Cautious and Cautious Monthly Income funds. This fund will appeal to those investors with a higher risk threshold than the other funds in the range providing a full suite of funds for investors appropriate to their appetite for risk.”
David Jane, Miton multi asset fund manager, says: “We are firm believers that capital preservation should be prioritised alongside return generation and have created a solution which provides the flexibility to move aggressively out of equities in difficult market conditions. This will enable us to achieve much smoother long term results for investors. The fund complements the existing multi asset range at Miton, providing a selection of products for investors looking for outcome driven solutions, with outstanding long term investment performance.”
Anthony Rayner, Miton multi asset fund manager, adds: “The growth environment is broadly positive, providing a supportive background for corporate global earnings growth. In 2018 we expect to see strong growth, and inflation and interest rates edge higher. As a result we’re currently emphasising economically sensitive equities, short duration, good quality corporate bonds and a growing exposure to inflation beneficiaries. Our pragmatic approach means we are always willing to change our views as the facts change, and our freedom to move quickly between asset classes ensures that we can actively manage risk for our investors.”
The fund will sit within the IA Mixed Investment 40 per cent-85 per cent shares sector. The fund will have income and accumulation share classes – an F share class with an Annual Management Charge (AMC) of 0.50 per cent (OCF capped at 1 per cent) with a minimum investment of GBP100,000 and a B share class with an AMC of 0.75 per cent (OCF capped at 1.5 per cent) with a minimum investment of GBP1,000.