View more on these topics

Miton targets advisers with special sits fund

Multi-manager specialist Miton Investments is planning to establish itself in the IFA market with its fourth fund of funds.

The firm, which was founded in 1986, provides funds of funds and bespoke portfolios to UK and overseas investors, including discretionary portfolio managers.

Its investment team wanted to build up a track record before rolling out its funds to the wider IFA market.

The new CF Miton special situations fund is based on a pension fund that Miton has managed since 1998. The Investment Management Association has allowed the existing fund&#39s track record to move across to the balanced managed sector.

In common with Miton&#39s other funds of funds, the new fund will take a defensive core and aggressive satellite approach. Defensive assets such as cash and gilts will provide a low volatility base, enhanced by around 30 per cent in special situations funds, including investment trusts, that are exposed mainly to equities.

Miton&#39s investment team believe the use of benchmark indices increases volatility and limits diversification so they will measure performance relative to the balanced managed sector average.

The fund will soon be available through Canada Life International&#39s investment bond and Miton is also looking to develop a relationship with Canada Life onshore.

Fund of funds manager Sam Liddle says: “Asset allocation contributes more to fund performance than fund selection. Your fund can hold the best performing UK fund but it is no good if that market is falling. The special situations fund of funds will be looking for managers that do well in a bull market, not a bear market, because if we do not like a market we will not put money into it.”


Purely Mortgages chief executive on M-Day

Purely Mortgages chief executive Mark Chilton says the FSA should have given the industry a transitional period to prepare for M-Day. As a result of the problems that are likely to occur, Chilton says the FSA may be more relaxed towards those suffering difficulties. But Chilton says it is quite extraordinary that several lenders have […]

Confidence in BTL still high despite rate rises

Landlords still have confidence in the buy-to-let property market despite slowing house prices and an increase in the cost of borrowing, according to research by Mortgage Trust. The research, based on 350 replies from residential landlords, found that 90 per cent would not consider selling their investment property because of rising interest rates. Forty-nine per […]

Enterprise Homeloans receives FSA authorisation

Enterprise Homeloans announces it has received formal authorisation from the FSA to be an arranger. Enterprise is a private company specialising in the marketing and packaging of non-conforming morgages for the Zurich Advice Network and the Zurich Mortgage Network. Enterprise chief executive Michael Clapper says: “In light of the sentients throughout the industry, it would […]

Pru points to perks for multi-ties

Prudential says multi-ties will get more commission, may have their FSCS levy paid and could get cheaper PI than independent advisers. Outlining its vision of the depolarised world, Prudential told Money Marketing how it envisages entrepreneurial intermediaries operating joint whole-of-market and multi-tied businesses. These advisers would be able to swap hats in mid-conversation with clients […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment