Premier Miton Strategic Monthly Income Bond
The Premier Miton Strategic Monthly Income Bond fund aims to provide investors with a steady monthly income while minimising volatility and providing a better risk-adjusted income compared to both bond funds and equity income options. This fund is very active in nature.
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Lloyd Harris joined Premier Miton in August 2020. Previously, he was at Merian Global Investors from 2012 to 2020, where he managed the Merian Corporate Bond Fund and co-managed the Merian Financials Contingent Capital Fund. Before that, he worked at Cutwater Asset Management from 2007 to 2011 as an asset-backed CP/MTN trader and European financials credit analyst. His earlier career includes a role in structured capital markets at Deutsche Bank from 2002 to 2007.
Simon Prior joined Premier Miton in August 2020 and co-manages the Premier Miton Corporate Bond Monthly Income Fund and the Premier Miton Strategic Monthly Income Bond Fund. Previously, he was at Merian Global Investors from 2013 to 2020, where he co-managed the Merian Corporate Bond Fund and the Merian Monthly Income Bond Fund. Before that, Simon worked at Old Mutual plc in finance and treasury roles. He holds a BSc in Mathematics from the University of Hull and is a CFA Charterholder.
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Company Description
Premier Miton Investors was formed in November 2019 following the merger of Premier Asset Management Group plc and Miton Group plc. The combined company manages around £11.2 billion of assets on behalf of a wide range of individual investors and institutions. The two principal areas of focus are outcome-based, multi-asset investment, and single-strategy, active equity investment. Premier Miton was awarded the Elite Provider for Equities rating in 2021.
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Talking Factsheet
Investment process
The process starts by developing strategic themes that are expected to influence the asset class over the long term. The managers rank sectors they like and don’t like, and then thoroughly research and debate individual names before investing. The research process involves diligent analysis of sectors and individual company financials to enhance capital preservation and mitigate idiosyncratic risks.
The fund managers generate long-range ideas related to bond and credit markets, framing their investment approach. Their research is open, robust, and repeatable, and they collaborate with other investment teams within Premier Miton. The team subscribes to independent research providers to supplement its analysis, particularly for bonds with higher default risk. The teams also engages with company management and sell-side strategists for deeper insights into potential investments.
Finally, the fund managers consider general market conditions before making investment decisions, taking into account the current market phase and supply/demand dynamics.
The team tends to avoid emerging markets, but will take more risk in credit and therefore usually has a higher proportion of high yield in the fund compared with the market.
Risk
The fund employs a key risk control strategy at the holdings level, where the fund managers conduct thorough due diligence during the research process to identify inherent risks. The fund is also actively monitored by Premier Miton's risk team and overseen by the Funds Risk Committee.
ESG
Premier Miton follows a Responsible Investing Policy that integrates Environmental, Social, and Governance (ESG) factors alongside financial considerations into investment decisions. This fund's fundamental credit research encompasses all aspects of ESG. Through negative screening, the managers ensure that there is no exposure to companies that earn the majority of their profits from either coal, oil or tobacco.
The information, data, analyses, and opinions contained herein (1) include the proprietary information of FundCalibre, (2) may not be copied or redistributed without prior permission, (3) do not constitute investment advice offered by FundCalibre, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a fund, and (5) are not warranted to be correct, complete, or accurate. FundCalibre shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. The Elite Fund rating is subjective in nature and reflects FundCalibre’s current expectations of future events/behaviour as they relate to a particular fund. Because such events/behaviour may turn out to be different than expected, FundCalibre does not guarantee that a fund will perform in line with its FundCalibre benchmark. Likewise, the Elite Fund rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund nor of its underlying securities and should not be used as the sole basis for making any investment decision. FundCalibre disclaims any responsibility for trading decisions, damages or other losses resulting from any use of the Elite Fund rating. All performance data, as well as fund size, OCF, AMC, annual income (historic), share price discount or premium, is sourced directly from FE Analytics, and will change periodically.