Premier Miton Premier Miton Multi-Asset Growth & Income Class C Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/04/19 to 30/04/20 |
30/04/20 to 30/04/21 |
30/04/21 to 30/04/22 |
30/04/22 to 30/04/23 |
30/04/23 to 30/04/24 |
|
|---|---|---|---|---|---|
| Fund | -10.5% | 24.4% | 0.2% | -7.7% | 14.0% |
| Sector | -4.0% | 21.4% | -0.1% | -1.9% | 8.7% |
| Rank | 153/169 | 55/181 | 107/196 | 206/207 | 12/213 |
| Quartile | 4 | 2 | 3 | 4 | 1 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/04/24 |
5 Years to 30/04/24 |
10 Years to 30/04/24 |
||
| Fund | 1.8% | 3.3% | 5.9% | |
| Sector | 2.1% | 4.4% | 5.5% | |
| Rank | 117/196 | 136/169 | 50/107 | |
| Quartile | 3 | 4 | 2 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| CREDIT AGRICOLE SA | 1.48 |
| META PLATFORMS | 1.39 |
| ADOBE | 1.39 |
| MICROSOFT CORPORATION | 1.35 |
| JAPAN TOBACCO INC | 1.34 |
| RIO TINTO | 1.33 |
| ALPHABET INC | 1.31 |
| MASTERCARD INCORPORATED | 1.26 |
| WHITEHAVEN COAL LIMITED | 1.26 |
| VISA | 1.26 |
| Total | 13.37 |
Fund Aims
The objective of the Fund is to provide total returns comprised of capital growth and income over the long-term, being five years or more. Five years is also the minimum recommended period for holding shares in this Fund. This does not mean that the Fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested. Income is paid twice a year as dividend distributions.
Fund Manager
Anthony Rayner joined Premier Miton in June 2014. Before joining Premier Miton, Anthony worked for Darwin Investment Managers, analysing portfolio construction and risk for the Darwin Multi Asset Fund alongside David Jane. Prior to this, he worked for M&G, focusing on portfolio construction and risk for UK equity funds and then for the multi asset fund range. Previously, he was a member of the Asset Allocation and Economics team at Merrill Lynch Investment Managers
David Jane joined Premier Miton in June 2014. He founded Darwin Investment Managers in September 2010 and prior to that he was Head of Equities Investments at M&G. David joined M&G in December 2000 as a Fund Manager in the global specialist equity team before becoming Head of Equities investments. Whilst there he was portfolio manager of the M&G Managed Fund and the M&G Cautious Multi Asset Fund, which he launched in February 2007 and grew to over £300 million during his tenure. Prior to M&G, David was the Head of Global Financials Research at AXA Investment Management and before that he was at Newton Investment Management as Director of Global Financials Research. He also served as Non-Executive Director of M&G High Income Investment Trust plc from October 2002 to July 2010.
Fund Overview
| Mid (02/05/2024) | 162.20p |
| Historic yield | 3.78% |
| Fund size (31/01/2024) | £278.11m |
| Number of holdings | 125 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
| Launch date | 05/11/2012 |
Asset Allocation
| International Equities | 70.92% | |
| UK Equities | 14.39% | |
| Commodities | 7.81% | |
| International Bonds | 2.58% | |
| Property | 2.41% | |
| UK Corporate Bonds | 1.63% | |
| Cash and Equivalents | 0.26% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 70.92% | |
| UK Equities | 14.39% | |
| Commodities | 7.81% | |
| International Bonds | 2.58% | |
| Property | 2.41% | |
| UK Corporate Bonds | 1.63% | |
| Cash and Equivalents | 0.26% |
Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Technology | 16.40% | - | - | - | |
| Technology | - | 16.40% | - | - | |
| Software & Computer Services | - | - | 11.59% | - | |
| Software | - | - | - | 4.67% | |
| Consumer Digital Services | - | - | - | 4.08% | |
| Computer Services | - | - | - | 2.84% | |
| Technology Hardware & Equipment | - | - | 4.82% | - | |
| Production Technology Equipment | - | - | - | 2.39% | |
| Electronic Components | - | - | - | 1.72% | |
| Computer Hardware | - | - | - | 0.71% | |
| Financials | 16.12% | - | - | - | |
| Banks | - | 7.88% | - | - | |
| Banks | - | - | 7.88% | - | |
| Banks | - | - | - | 7.88% | |
| Financial Services | - | 5.49% | - | - | |
| Mortgage Real Estate Investment Trusts | - | - | 2.98% | - | |
| Mortgage REITs: Residential | - | - | - | 2.09% | |
| Mortgage REITs: Commercial | - | - | - | 0.89% | |
| Investment Banking & Brokerage Services | - | - | 1.57% | - | |
| Asset Managers & Custodians | - | - | - | 1.57% | |
| Finance & Credit Services | - | - | 0.95% | - | |
| Consumer Lending | - | - | - | 0.95% | |
| Insurance | - | 2.75% | - | - | |
| Life Insurance | - | - | 2.75% | - | |
| Life Insurance | - | - | - | 2.75% | |
| Industrials | 15.79% | - | - | - | |
| Industrial Goods & Services | - | 11.84% | - | - | |
| Industrial Support Services | - | - | 5.32% | - | |
| Transaction Processing Services | - | - | - | 2.52% | |
| Industrial Suppliers | - | - | - | 1.21% | |
| Business Training & Employment Agencies | - | - | - | 0.80% | |
| Security Services | - | - | - | 0.79% | |
| Aerospace & Defence | - | - | 3.21% | - | |
| Aerospace | - | - | - | 1.88% | |
| Defense | - | - | - | 1.33% | |
| General Industrials | - | - | 1.58% | - | |
| Diversified Industrials | - | - | - | 1.58% | |
| Industrial Engineering | - | - | 1.00% | - | |
| Machinery: Industrial | - | - | - | 0.52% | |
| Machinery: Specialty | - | - | - | 0.48% | |
| Electronic & Electrical Equipment | - | - | 0.61% | - | |
| Electronic Equipment: Control & Filter | - | - | - | 0.61% | |
| Industrial Transportation | - | - | 0.14% | - | |
| Transportation Services | - | - | - | 0.14% | |
| Construction & Materials | - | 3.95% | - | - | |
| Construction & Materials | - | - | 3.95% | - | |
| Construction | - | - | - | 1.29% | |
| Engineering & Contracting Services | - | - | - | 0.96% | |
| Building: Climate Control | - | - | - | 0.88% | |
| Cement | - | - | - | 0.82% | |
| Energy | 12.38% | - | - | - | |
| Energy | - | 12.38% | - | - | |
| Non-Renewable Energy | - | - | 11.40% | - | |
| Coal | - | - | - | 4.94% | |
| Integrated Oil & Gas | - | - | - | 2.41% | |
| Oil: Crude Producers | - | - | - | 1.50% | |
| Oil Refining and Marketing | - | - | - | 1.27% | |
| Oil Equipment & Services | - | - | - | 0.80% | |
| Offshore Drilling & Other Services | - | - | - | 0.49% | |
| Renewable Energy | - | - | 0.98% | - | |
| Alternative Fuels | - | - | - | 0.98% | |
| Basic Materials | 9.77% | - | - | - | |
| Basic Resources | - | 9.77% | - | - | |
| Industrial Metals & Mining | - | - | 7.06% | - | |
| General Mining | - | - | - | 4.25% | |
| Iron & Steel | - | - | - | 1.72% | |
| Metal Fabricating | - | - | - | 1.10% | |
| Industrial Materials | - | - | 1.88% | - | |
| Forestry | - | - | - | 0.96% | |
| Paper | - | - | - | 0.92% | |
| Precious Metals & Mining | - | - | 0.83% | - | |
| Gold Mining | - | - | - | 0.83% | |
| Commodities | 7.81% | - | - | - | |
| Commodities | - | 7.81% | - | - | |
| Commodities | - | - | 7.81% | - | |
| Commodities | - | - | - | 7.81% | |
| Consumer Discretionary | 7.55% | - | - | - | |
| Automobiles & Parts | - | 2.95% | - | - | |
| Automobiles & Parts | - | - | 2.95% | - | |
| Automobiles | - | - | - | 2.61% | |
| Auto Parts | - | - | - | 0.34% | |
| Consumer Products & Services | - | 2.87% | - | - | |
| Leisure Goods | - | - | 1.65% | - | |
| Consumer Electronics | - | - | - | 1.13% | |
| Recreational Vehicles & Boats | - | - | - | 0.52% | |
| Household Goods & Home Construction | - | - | 0.69% | - | |
| Home Construction | - | - | - | 0.69% | |
| Consumer Services | - | - | 0.53% | - | |
| Rental & Leasing Services: Consumer | - | - | - | 0.53% | |
| Retail | - | 1.73% | - | - | |
| Retailers | - | - | 1.73% | - | |
| Diversified Retailers | - | - | - | 1.22% | |
| Specialty Retailers | - | - | - | 0.51% | |
| Bonds | 4.21% | - | - | - | |
| Consumer Staples | 3.65% | - | - | - | |
| Food, Beverage & Tobacco | - | 2.89% | - | - | |
| Tobacco | - | - | 2.89% | - | |
| Tobacco | - | - | - | 2.89% | |
| Personal Care, Drug & Grocery Stores | - | 0.76% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 0.76% | - | |
| Food Retailers & Wholesalers | - | - | - | 0.76% | |
| Utilities | 3.64% | - | - | - | |
| Utilities | - | 3.64% | - | - | |
| Gas, Water & Multi-utilities | - | - | 2.09% | - | |
| Multi-Utilities | - | - | - | 2.09% | |
| Electricity | - | - | 1.55% | - | |
| Conventional Electricity | - | - | - | 1.55% | |
| Real Estate | 2.41% | - | - | - | |
| Real Estate | - | 2.41% | - | - | |
| Real Estate Investment Trusts | - | - | 2.41% | - | |
| Retail REITs | - | - | - | 1.42% | |
| Diversified REITs | - | - | - | 0.99% | |
| Cash and Equivalents | 0.26% | - | - | - | |
| Non-Classified | 0.00% | - | - | - | |
| Non-Classified | - | 0.00% | - | - | |
| Non-Classified | - | - | 0.00% | - | |
| Non-Classified | - | - | - | 0.00% | |
Regional Allocation
| North America | 29.12% | |
| UK | 16.02% | |
| Developed Europe - Excl UK | 14.42% | |
| Japan | 13.97% | |
| Commodities | 7.81% | |
| Emerging Asia | 7.51% | |
| Australia & New Zealand | 5.47% | |
| Property | 2.41% | |
| Middle East & Africa | 1.61% | |
| Other Regions | 1.68% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 95.53% | |
| US Dollar | 3.58% | |
| Pound Sterling | 0.63% | |
| Cash | 0.26% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 29.12% | - | |
United States
|
- | 28.14% | |
Canada
|
- | 0.98% | |
| UK | 16.02% | - | |
United Kingdom
|
- | 16.02% | |
| Developed Europe - Excl UK | 14.42% | - | |
France
|
- | 6.47% | |
Netherlands
|
- | 2.28% | |
Italy
|
- | 2.21% | |
Spain
|
- | 1.07% | |
Germany
|
- | 0.97% | |
Finland
|
- | 0.92% | |
Switzerland
|
- | 0.49% | |
| Japan | 13.97% | - | |
Japan
|
- | 13.97% | |
| Commodities | 7.81% | - | |
| Emerging Asia | 7.51% | - | |
India
|
- | 5.10% | |
China
|
- | 1.46% | |
South Korea
|
- | 0.95% | |
| Australia & New Zealand | 5.47% | - | |
Australia
|
- | 5.47% | |
| Property | 2.41% | - | |
| Middle East & Africa | 1.61% | - | |
South Africa
|
- | 1.61% | |
| Non-Classified | 1.42% | - | |
| Cash and Equivalents | 0.26% | - | |
Breakdown By Market Cap (%)
| Mega |
|
38.31% |
| Large |
|
13.06% |
| Medium |
|
27.68% |
| Small |
|
4.04% |
| Micro |
|
0.14% |
| Non-Classified |
|
12.30% |
| Bonds |
|
4.21% |
| Cash |
|
0.26% |
Top 10 Fund Holdings
| Name | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | Invesco Markets Plc Invesco Physical Gold ETC - | 5.04% | Managed Funds | Managed Funds |
| 2 | WisdomTree ETC WisdomTree Agriculture [LSE] | 1.94% | Managed Funds | Managed Funds |
| 3 | CREDIT AGRICOLE SA | 1.48% | Banks | France |
| 4 | META PLATFORMS | 1.39% | Software & Computer Services | United States |
| 5 | ADOBE | 1.39% | Software & Computer Services | United States |
| 6 | MICROSOFT CORPORATION | 1.35% | Software & Computer Services | United States |
| 7 | JAPAN TOBACCO INC | 1.34% | Tobacco | Japan |
| 8 | RIO TINTO | 1.33% | Industrial Metals & Mining | United Kingdom |
| 9 | ALPHABET INC | 1.31% | Software & Computer Services | United States |
| 10 | MASTERCARD INCORPORATED | 1.26% | Industrial Support Services | United States |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | CREDIT AGRICOLE SA | 1.48% | Banks | France |
| 2 | META PLATFORMS | 1.39% | Software & Computer Services | United States |
| 3 | ADOBE | 1.39% | Software & Computer Services | United States |
| 4 | MICROSOFT CORPORATION | 1.35% | Software & Computer Services | United States |
| 5 | JAPAN TOBACCO INC | 1.34% | Tobacco | Japan |
| 6 | RIO TINTO | 1.33% | Industrial Metals & Mining | United Kingdom |
| 7 | ALPHABET INC | 1.31% | Software & Computer Services | United States |
| 8 | MASTERCARD INCORPORATED | 1.26% | Industrial Support Services | United States |
| 9 | WHITEHAVEN COAL LIMITED | 1.26% | Non-Renewable Energy | Australia |
| 10 | VISA | 1.26% | Industrial Support Services | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | 0.58% | 15.83% | - | - | - | - | - | - | 16.40% |
| Financials | 3.63% | 12.49% | - | - | - | - | - | - | 16.12% |
| Real Estate | - | - | - | - | - | 2.41% | - | - | 2.41% |
| Consumer Discretionary | 1.03% | 6.52% | - | - | - | - | - | - | 7.55% |
| Consumer Staples | 1.93% | 1.72% | - | - | - | - | - | - | 3.65% |
| Energy | 0.35% | 12.03% | - | - | - | - | - | - | 12.38% |
| Utilities | 0.94% | 2.70% | - | - | - | - | - | - | 3.64% |
| Industrials | 3.49% | 12.30% | - | - | - | - | - | - | 15.79% |
| Basic Materials | 2.44% | 7.33% | - | - | - | - | - | - | 9.77% |
| Cash and Equivalents | - | - | - | - | - | - | - | 0.26% | 0.26% |
| Bonds | - | - | 1.63% | 2.58% | - | - | - | - | 4.21% |
| Non-Classified | - | - | - | - | - | - | 7.81% | - | 7.81% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B78H4K9 |
| Mex Code | LGPEAV |
| Isin Code | GB00B78H4K93 |
| Citi Code | GH6K |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.82% |
Aims and Benchmark
| Aims | The objective of the Fund is to provide total returns comprised of capital growth and income over the long-term, being five years or more. Five years is also the minimum recommended period for holding shares in this Fund. This does not mean that the Fund will achieve the objective over this, or any other, specific time period and there is a risk of loss to the original capital invested. Income is paid twice a year as dividend distributions. |
| Benchmark | IA Mixed Investment 40-85% Shares Sector |
| Benchmark Category | Comparator |
| IA Sector | Mixed Investment 40-85% Shares |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | OEIC |
| Launch price | £1.00 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | No income |
| Distribution Payment Basis | Gross |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 May | 31 August |
| 01 November | 31 December |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Northern Trust Global Services SE |
| Fund Administrator | Northern Trust Global Services SE |
| Fund Registrar | Northern Trust Global Services SE |
| Fund Custodian | The Northern Trust Company |
Group Details
| Group name | Premier Miton Investors |
| Group address | Eastgate Court High Street Guildford Surrey GU1 3DE |
| Group telephone | 0845 6056363 |
| Dealing telephone | - |
| sales@premierfunds.co.uk | |
| Homepage | www.premiermiton.com |
| Fax number | 01483 300845 |
Dealing
| Minimum Investment | £250000 |
| Minimum Top Up | £25000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -0.26 |
| Beta | 0.81 |
| Sharpe | 0.00 |
| Standard Deviation | 7.95 |
| Info Ratio | -0.17 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | Yes |
| Emerging Markets | Yes |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | Yes |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | Yes |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | Yes |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Charges to Capital
Part, or all of the periodic annual management fee(s) and expenses may be charged to capital which could increase the potential for the capital value of your investment to be eroded. Your capital could also decrease if income withdrawals exceed the growth rate of the fund(s).
Emerging Markets
The fund invests in emerging markets. Generally less well regulated than the UK. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These investments therefore carry more risk.
High Yield Bonds
The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Income Eroding Capital Growth
The fund focuses on providing an income, which can reduce the prospects for capital growth, and in some cases the capital value may fall.
Solvency of Bond Issuers
If the fund you choose invests in bonds there is a risk that the issuer may default, resulting in a loss to the portfolio.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.