Overview
MIGO Opportunities Trust (formerly Miton Global Opportunities and before that Miton Worldwide Growth : MWGT) is a global fund of closed-end funds. It aims to outperform SONIA plus 2% over the longer term, principally through exploiting the pricing of closed-end funds.
The company invests in closed-end investment funds traded on the London Stock Exchange’s Main Market, but has the flexibility to invest in investment funds listed or dealt on other recognised stock exchanges, in unlisted closed-end funds (including, but not limited to, funds traded on the AIM All-Share Index) and in open-ended investment funds. The funds in which the company invests may include all types of investment trusts, companies and funds established onshore or offshore. The company has the flexibility to invest in any class of security issued by investment funds including, without limitation, equity, debt, warrants or other convertible securities. In addition, the company may invest in other securities, such as non-investment fund debt, if deemed to be appropriate to produce the desired returns to shareholders.
you can access the trust’s website here
Fundamentals
Price
Research History
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24 Jun 2024 1 min read
QuotedData’s Weekly News Show Special: Big Discounts
On Friday’s show, James Carthew covered this week’s top stories and hosted a panel discussion between Nick Greenwood from MIGO Opportunities, Peter Hewitt from Columbia Threadneedle and Ben Ritchie from abrdn. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. Additionally, if you would prefer […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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10 Aug 2020 4 min read
QuotedData’s Economic Roundup – August 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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14 Jul 2020 9 min read
QuotedData’s Investment Companies Quarterly Review – Second Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit When the going gets […]
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10 Jan 2020 8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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11 Jul 2018 1 min read
QuotedData’s Economic round up – July 2018
QuotedData’s Economic round up – July 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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10 Jan 2018 1 min read
QuotedData’s economic round up – January 2018
QuotedData’s economic round up – January 2018 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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12 Jul 2017 2 min read
QuotedData’s economic round up – July 2017
QuotedData’s economic round up – July 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
News
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14 Aug 2025 2 min read
MIGO: Aquila setback was a blow, but Klarna float plans should deliver more from buoyant Chrysalis
Aquila Renewables (AERI) pausing its sales process with a preferred bidder last month was a “major disappointment” for MIGO Opportunities (MIGO), weighing on returns after two strong months for the bargain-hunting closed-end fund investor, although it did benefit from a positive update from Chrysalis Investments (CHRY). Chrysalis’ announcement of a 14% increase in net asset […]
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22 Jul 2025 2 min read
QuotedData’s morning briefing 22 July: ICGT, ESCT, IBT, MMIT, VNH, MIGO, JII, SDP, SEC, JPEL & RGL
ICG Enterprise nets £22m from the sale of VR software provider Datasite and European Smaller Companies, International Biotechnology, Mobius and Vietnam Holding all report good gains for June. ICG Enterprise Trust (ICGT) has sold its co-investment in Datasite, a software provider focused on virtual data rooms that at 31 January was its fourth largest company exposure […]
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14 Jul 2025 3 min read
Deutsche Numis: Where activist Saba is winning after taking less “brash” approach in £1.3bn trusts campaign
A more conventional “behind the scenes” engagement with investment company boards is reaping results for the activist hedge fund after its high-profile defeats in January, says Deutsche Numis. Analysis by Deutsche Numis shows Saba Capital is having more success in extricating itself from investment trust targets than last week’s disclosure of a position just over […]
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18 Jun 2025 2 min read
MIGO announces manager change and shift to high-conviction strategy
MIGO Opportunities Trust has announced that long-serving co-manager Nick Greenwood will step back from portfolio management after over 20 years at the helm. Charlotte Cuthbertson, already co-manager, will now be joined by Tom Treanor, Asset Value Investors (AVI’s) head of research (both pictured), effective 18 June 2025. Nick will remain at AVI as a consultant. […]
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04 Sep 2024 1 min read
QuotedData’s morning briefing 4 September 2024 – AGA, GOT, MIGO
In QuotedData’s morning briefing 4 September 2024: Apax Global Alpha Limited (AGA), the closed-ended investment company providing access to the Apax Private Equity Funds, today announced that it expects to invest approximately €12m in Altus Fire & Life Safety on a look-through basis. On 3 September 2024, Apax XI, in which AGA is a limited […]
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22 Aug 2024 1 min read
QuotedData’s morning briefing 22 August 2024 – JAGI, MIGO, DSM
In QuotedData’s morning briefing 22 August 2024: Pauline Ng has become an additional named portfolio manager for JPMorgan Asia Growth & Income (JAGI), working alongside co-managers Robert Lloyd and Ayaz Ebrahim. Pauline joined JPMorgan Asset Management in 2005 and is a country specialist for the Association of Southeast Asian Nations (ASEAN) equities and head of […]
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25 Jul 2024 2 min read
MIGO Opportunities sees bright future
MIGO Opportunities has published results covering the 12 month period ended 30 April 2024. The NAV rose to 362.6p (2023: 328.6p), giving a total return of +11.3%. The share price ended the year at 346.0p, giving a total share price return of +9.6%. The company’s performance objective is to beat the return on SONIA plus […]
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08 Dec 2023 5 min read
QD view – your vote will count in Arb fight
Discounts in the investment trust sector are almost double their average[1], with the combination of cost disclosure rules and rising interest rates creating widespread selling pressure. It is perhaps not surprising that this has caught the attention of activist investors who spot an opportunity. Saba Capital is the latest arbitrageur on the block, thought to […]
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16 Oct 2023 1 min read
QuotedData’s morning briefing 16 October 2023
In QuotedData’s morning briefing 16 October 2023: Asset Value Investors (AVI) has appointed Nick Greenwood to continue managing MIGO Opportunities Trust (MIGO). He will continue to work alongside co-manager Charlotte Cuthbertson, who joined AVI in July. Nick has worked with MIGO since its launch in 2004. Syncona (SYNC) has announced that its portfolio company Anaveon […]
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04 Aug 2023 2 min read
MIGO feels the pinch of widening trust discounts
MIGO Opportunities Trust (MIGO) has announced its annual results for the year ended 30 April 2023. Over the 12 month period MIGO generated a NAV total return of -9.3% and a share price total return of -10.3%. This compared to the trust’s benchmark, SONIA plus 2%, which returned 4.6%. Some notable contributors to MIGO’s performance […]
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27 Jul 2023 2 min read
AVI wins mandate to run MIGO Opportunities
MIGO Opportunities Trust has appointed Asset Value Investors Limited (AVI) to become its AIFM and investment manager. It will continue to implement MIGO’s existing investment objective and policy. The decision follows detailed shareholder engagement and a rigorous selection process, as part of the board’s manager review announced in March. AVI is an experienced manager of […]
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05 May 2023 4 min read
QD view – Spreading your bets – asset allocating for uncertain times
For the second time in five years, investors are finding themselves in the grips of a global bear market that has punished most asset classes. The reasons underpinning the latest bout of selling have been well covered by market commentators, with QuotedData being no exception. Alongside this, many column inches have also been devoted to […]
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07 Mar 2023 1 min read
Nick Greenwood resigns from Premier Miton
The board of MIGO Opportunities Trust has announced that it has served a six-month protective notice to Premier Miton Investors on its investment management agreement. This was triggered by news that Nick Greenwood, the lead portfolio manager, has resigned from Premier Miton. The board says that Nick will continue to be available to manage the […]
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14 Oct 2022 4 min read
QD view – navigating troubled waters
When I started writing this article, it was being widely reported that the chancellor, Kwasi Kwarteng, had been forced to cut short his visit to the US and was returning to London to face urgent talks with the prime minister and Conservative MPs. Before I had finished it, he was out of a job, with […]
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26 Jul 2022 6 min read
Private equity, energy and Vietnam boost MIGO Opportunities
MIGO Opportunities has published results for the 12 months ended 30 April 2022. Over that period, the NAV return was 4.7%, the share price return 2.7% and the return on the benchmark – the return on cash, as measured by SONIA, plus 2% – was 2.2%. The chairman says that the principal drivers of performance […]
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10 Dec 2021 2 min read
QuotedData’s morning briefing 10 December 2021
In QuotedData’s morning briefing 10 December 2021: Miton Global Opportunities (MIGO) has announced that it has changed its name to MIGO Opportunities Trust, in order to make it easier 1) for potential investors to find and identify the company, which it says has increasingly become known as MIGO, and 2) promoting its success in the […]
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15 Oct 2021 2 min read
QuotedData’s morning briefing 15 October 2021
In QuotedData’s morning briefing 15 October 2021: Marwyn Value Investors (MVI) has updated following the completion of Zegona’s tender offer (at £1.535 per Zegona ordinary share). Following the tender, the Marwyn Funds are due proceeds of £45,425,386 attributable to MVI’s ordinary shares and £6,686,881 attributable to MVI’s realisation shares. The Zegona Realisation Share Proceeds, along […]
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11 Aug 2021 3 min read
QuotedData’s morning briefing 11 August 2021
In QuotedData’s morning briefing 11 August 2021: Round Hill Music Royalty (RHM) has made its first open market acquisition since its IPO by acquiring the music catalogue of Yes guitarist and film score composer, Trevor Rabin. This includes 3,528 cues from films such as Armageddon, Enemy of the State and Bad Boys II and songs such as Owner of a Lonely […]
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20 Jul 2021 2 min read
QuotedData’s morning briefing 20 July 2021
In QuotedData’s morning briefing 20 July 2021: Miton Global Opportunities (MIGO) has posted its annual report for the year ended 30 April 2021. Over the 12 months, the trust achieved a NAV return of 55% and total share price return of 61.7%, significantly ahead of its SONIA 3 month plus 2% benchmark, which returned 2.1%. Managers, […]
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04 Jul 2019 3 min read
Flat year for Miton Global Opps
Flat year for Miton Global Opps – after a run of award-winning performance, Miton Global Opportunities reported a negative 0.3% total return for the year ended 30 April 2019. The trust’s benchmark is 3-month SONIA +2% -which worked out at 2.7% for the period. A shift to trading on a small premium gave shareholders an […]
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11 Sep 2018 1 min read
Miton Global Opportunities to put three proposals to shareholders
Miton Global Opportunities to put three proposals to shareholders – Miton Global Opportunities (MIGO) has announced that it will put three proposals before shareholders at a general meeting to be held on 5 October 2018 at 11.45 a.m. The proposals are: Change the company’s articles Change the Articles so that the form of the Realisation Opportunity currently contemplated can […]
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19 Jul 2018 1 min read
Investment Trust Insider on how to grow trusts
Investment Trust Insider on how to grow trusts James Carthew: imponderable questions in quest for scale Last week I addressed the uphill battle Ashoka India Equity (AIE) faces if it wants to expand, having raised just £46.5 million in its flotation. It is by no means the smallest fund out there, however. Many of the very smallest funds […]
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29 Jun 2017 5 min read
Miton Global discount narrows on strong performance
For the year ended 30 April 2017, Miton Global Opportunities net asset value per share rose to 248.7p (2016: 182.4p), a total return of 36.3% (2016: 0.4%). The share price ended on an all-time high of 242.3p (2016: 164.3p), a total return of 47.5%. The fund has outperformed a number of other comparators such as the […]
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01 Jul 2016 3 min read
Miton Global Opportunities flat after rollercoaster year
Miton Global Opportunities has released results for the year ended 30 April 2016. The net asset value per share rose to 182.4p, a total return of 0.4% – there is no dividend. The manager says the company’s shares ended the financial year standing at an all-time high, moving from 162.75p to 164.25p during the year. […]
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08 Jan 2016 2 min read
Miton Global Opportunities underperforms in first half
Miton Global Opportunities, formerly Miton Worldwide Growth Investment Trust PLC, has announced its interim results for the six-months ended 31 October 2015. During the period, the company’s NAV total return was -4.4% and its share price total return was -2.8%. These compare against a return of -3.6% on the MSCI world and a 1.3% return […]
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06 Jan 2016 1 min read
Change of name for Miton Worldwide Growth
Miton Worldwide Growth Trust’s Board has changed its registered name to “Miton Global Opportunities plc”. The Directors think the Company’s name should be simplified and more accurately reflect the investment approach. In addition to the change of name, the Directors have agreed to appoint Frostrow Capital LLP to provide distribution and marketing, company secretarial and accounting […]
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05 Aug 2015 2 min read
Miton Worldwide Growth – Sink or swim? Realisation opportunity in 2018
Miton Worldwide Growth, managed by Nick greenwood (pictured), has announced its annual results for the year ended 30 April 2015. During the year, the trust’s NAV per share grew by 8.5% to 181.63p whilst its share price grew by 8.9% beating the FTSE All-Share Index, which rose 7.5% during the same period. The discount narrowed marginally […]
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14 Dec 2013 1 min read
Miton Worldwide Growth : MWGT
Half year results to 31 October 2013 show an NAV uplift of 6.5% and an increase in the share price of 5.6%. MWGT’s benchmark is the return on Sterling LIBOR +2% (equal to 1.3% over the period – so MWGT comfortably outperformed its benchmark). MWGT’s return lagged that of the FTSE All-Share and MSCI World Indices […]
Upcoming Events
Videos
In The Press
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03 Feb 2025 1 min read
AJ Bell Money & Markets: Investment trust show #11
Investment trust show #11: Fighting off activist investors and the attractions of Japan Dan Coatsworth talks to James Carthew about Saba and investment trust activism in general. https://www.ajbell.co.uk/podcasts/episode/money-markets/2025-02-03
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30 Dec 2024 1 min read
A dozen funds tipped to bounce back in 2025
by Jennifer Hill, from interactive investor, 30th December 2024: They say beauty is in the eye of the beholder and when it comes to investing it often pays to love the unloved. All investment strategies move out of favour or suffer setbacks from time to time – and holding your nerve means catching the rebound. […]
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23 Apr 2024 1 min read
A glaring opportunity to snap up these cheap investment trusts
by Cherry Reynard from interactive investor, 23rd April 2024: Private equity investment trusts look like a glaring opportunity. They are trading at or near all-time record discounts after a long period where the sector has been out of favour. Holdings in the trusts have generally continued to perform well, with valuations stable. Yet these trusts […]
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05 Apr 2024 1 min read
Buyback bonanza
Cherry Reynard, for AIC Compass, 5 April 2024: In March, Scottish Mortgage Investment Trust announced a £1 billion share buyback programme, designed to narrow its persistent discount to net asset value. At a time when investment trust discounts are wide relative to history and arbitrageurs are hovering over the sector, it is one of a […]
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26 Feb 2024 1 min read
Can smaller trusts survive without consolidation?
Christian Mayes, Portfolio Adviser, 26 FEBRUARY 2024: A range of mergers have been announced in the investment trust space in recent times. Among others, the £2.3bn JP Morgan Global Growth and Income trust announced plans to absorb the £71m JP Morgan Multi-Asset Growth & Income (MATE) in January, while last week saw a bidding war […]
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30 Oct 2023 1 min read
Investment trust insider on costs and spreads
James Carthew: Where is investment companies’ Brexit dividend? In many articles over the past few years, I have expressed frustration that investment company share price discounts seem to be divorced from reality. Initially, this was centred around private equity funds, but over the past 12 months or so the problem has widened to encompass much […]
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02 Aug 2023 1 min read
Investment trust insider on corporate actions in abrdn’s funds
James Carthew: Need to cut charges lies behind Abrdn and trust changes The pace of change within the investment company sector appears to be accelerating. Just in the last few weeks we have seen Asset Value Investors win the mandate to run MIGO Opportunities (MIGO), though likely with the same management team as before, which […]
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13 Jun 2022 1 min read
Investment trust insider on funds of funds
Investment trust insider on funds of funds – James Carthew: Flexible trusts of trusts pick private equity From time to time, I find it is worth checking up on what managers of the funds of funds in the AIC Flexible Investment sector have been up to – managers such as Peter Hewitt of BMO Managed […]
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18 Jan 2021 1 min read
Trust sector urged to grow in order to ‘stay relevant’
From evolution to revolution: Investment trust sector urged to grow in order to ‘stay relevant’ David Brenchley, 14 January 2021, Investment Week Brokers have long called for a shake-up of the investment company sector, with Numis analyst Ewan Lovett-Turner lamenting in July there were too many sub-scale companies trading on wide discounts and called on […]
