A unique investment
proposition

Overview

Key facts

Total Assets:
£86.7m*
Launch date:
6 April 2004

10-Year Nav Total Return•:
118.9%*
Ongoing charges ratio:
1.6%**

* As of 30 April 2024
** As of 31 October 2023

Key Statistics

About the Trust

MIGO invests in discount opportunities in the closed-ended sector where the managers believe there is a catalyst to extract the value. The trust is able to invest in any geography or asset class providing it is held in an investment trust structure.

30 April 2024 % of NAV
VinaCapital Vietnam Opp Fund Ord 6.2
Georgia Capital PLC 6.1
Baker Steel Resources Ord 4.3
Oakley Capital Investments Ord 4.3
JPMorgan Indian Ord 3.8
Aquila European Renewables Ord 3.8
Tufton Oceanic Assets 3.7
Geiger Counter 3.5
Real Estate Investors Plc 3.0
Phoenix Spree Deutschland 2.9
Total 41.6

History

MIGO Opportunities Trust (MIGO) was established in 2004 in order to invest in opportunities in the closed-ended sector. The trust was previously run at Premier Miton plc before moving to Asset Value Investors in 2023. As at 31 December 2023 the total assets under management of MIGO was £84m.

MIGO’s process begins with the investment trust universe, which consists of approximately 600 trusts. Using the following questions, we filter down these trusts.

Once we have a shortlist we undertake due diligence with meetings and research in order to find the best ideas for the portfolio.

Monitoring:

The stocks within the portfolio are continuously monitored and a deep dive is undertaken every 6 months.

Portfolio Construction:

MIGO focuses on creating diversification whilst also ensuring position sizing is large enough to contribute to performance. Individual stocks rarely exceed 6% of NAV and a theme is capped at 8%.

Investor Information

Monthly Newsletter

Responsible Investing

At MIGO, we believe that integrating ESG and sustainability factors into our investment process, alongside traditional financial factors, is important to enable us to deliver strong and durable performance to our clients and to meet our broader investment responsibility. ESG matters, including climate change are part of our analysis and risk assessment when deciding whether an investment should be made. Climate change poses both risks and opportunities. The transition to a low-carbon economy will affect all businesses, irrespective of their size, sector, or geographic location. Therefore, no company’s revenues are immune, and the assessment of such risks must be considered within any effective investment approach.

As active investors, once we have invested in a company, we take our stewardship responsibilities seriously. MIGO acknowledges that it can have an indirect impact on the community and the environment through the companies it holds in its portfolio. We look to engage with the boards and management of constituent holdings on an ongoing basis and create an active dialogue on ESG factors.  Often, engagement with investee boards is undertaken with a view to helping realise value or to address potential issues with the trust’s governance. We seek to ensure good governance practices are being upheld and encourage adherence to responsible and ethical conduct. MIGO also views voting at company meetings to be an important lever in our stewardship responsibilities and will vote at company meetings when we have the opportunity to do so.

Investing in the Trust

Investment Platforms

The Association of Investment Companies (AIC) has released a series of videos to help investors understand investment companies. The animated series explains key topics such as diversification and collective investments, as well as investment company terminology

Watch the videos below:

Please note, by clicking on these links, you will be taken to a third party website of which AVI does not have any control. The information provided in these videos has not been verified by AVI; the videos do not constitute an offer or invitation to anyone to invest in any AVI products and has not been prepared in connection with any such offer. AVI does not accept any responsibility to you or any other third party as a result of how you interpret and use the information. AVI does not provide tax, accounting or legal advice. If you require such advice, you should consult your respective tax, accounting or legal advisers

The AIC has also produced a guide to investment trusts for people who want to learn more about the key concepts of investing, the advantages of using diversified funds to invest and the specific features of investment companies.

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Disclaimer

IMPORTANT INFORMATION

USE OF THIS WEBSITE:

THIS WEBSITE IS NOT INTENDED TO OFFER OR TO PROMOTE THE OFFER OR SALE OF THE SHARES (THE “SHARES”) OF MIGO OPPORTUNITIES TRUST PLC (THE “COMPANY”) IN THE UNITED STATES OR TO ANY “U.S. PERSONS” AS DEFINED IN REGULATION S (“US PERSONS”) UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).

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The contents of this website are communicated by Asset Value Investors Limited (“AVI”), which is authorised and regulated by the UK Financial Conduct Authority, with registered number 01881101 and which has its registered office at 2 Cavendish Square, London W1G 0PU, United Kingdom.

The information contained in this website does not constitute or form a part of any offer to sell or issue, or the solicitation of any offer to purchase, subscribe for or otherwise acquire, any securities in the United States or in any jurisdiction in which, or to any person to whom, such an offer or solicitation would be unlawful.

Nothing in this website is to be taken as investment or tax advice.  If you are unclear about any of the information on this website or its suitability for you, you must contact your financial or tax adviser, or an independent financial or tax adviser before making any investment or financial decisions.

The Company has not been and will not be registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act“), and as such holders of the Shares are not and will not be entitled to the benefits of the Investment Company Act. The Shares have not been and will not be registered under the Securities Act, or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold, resold, pledged, delivered, assigned or otherwise transferred, directly or indirectly, into or within the United States or to, or for the account or benefit of, any US Persons. There has been and will be no public offer of the Shares in the United States. The offer and sale of the Shares have not been and will not be registered under the applicable securities laws of Australia, Canada, Japan or South Africa. Potential users of the information contained  in this website are requested to inform themselves about and to observe all applicable restrictions.

General risk warning:  All investment is subject to risk. The value of the Shares may go down as well as go up. Past performance is no guarantee of future returns and there is no guarantee that the market price of the Shares will fully reflect their underlying net asset value. There is also no guarantee that the Company’s investment objective will be achieved.

The information contained in this website may contain forward-looking statements. Any statement other than a statement of historical fact is a forward-looking statement. Actual results may differ materially from those expressed or implied by any forward-looking statement.  You should not place undue reliance on any forward-looking statement.

Neither the Company nor AVI undertakes any obligation to update or revise any information in this website, including without limitation, any forward-looking statements, whether as a result of new information, future events or otherwise, and neither the Company nor AVI will confirm the accuracy or completeness of any information at any given time.

This website may contain links to third party websites. These links are provided for your information and convenience only, and do not amount to a recommendation or endorsement by the Company or AVI of that third party or its website. Neither the Company nor AVI has any control over the content of any third party website and neither the Company nor AVI has verified the accuracy of any content on any third party website. Accordingly, neither the Company nor AVI is liable for the content or availability (or lack of availability) of such third party websites.

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