IN THE BACK
Premier Miton UK Multi Cap Income
Tyndall ’ s James Sullivan says this fund ticks all the boxes of his “ four P ” checklist
We adopt a “ four P ” principle to support our fund selection , evaluating funds on performance , process , potential and pedigree . One such fund that scores well and has been reintroduced into portfolios is
Premier Miton UK Multi Cap Income . If we run the slide rule over the fund , our thinking becomes clear .
Performance The fund has returned 184.5 % since launch in October 2011 , compared with 100.2 % from the IA UK Equity Income sector , and outperformed its peer group in seven of the past 10 calendar years . What is more , that performance has been delivered with a lower drawdown and volatility than the sector . However , it has found 2022 to be a more testing environment , due in part to its overweight position in mid and small caps , and is down 18.2 % so far this year .
Process The managers of the fund , Gervais Williams and Martin Turner , look for companies that can tick five boxes : prospects for rising turnover , the ability to pass on cost increases , good management , balance sheet strength and valuations that suggest they are underappreciated by the market . The process usually throws up companies that are set to generate
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