The CF Miton Special Situations and CF Miton Strategic portfolios have fallen from the top of the IMA Flexible Investment sector to the bottom on a one-year view because of the managers' view on equities.
Co-managers Martin Gray (pictured) and James Sullivan are taking a more risk-off view than the consensus, which has hurt performance over the short to medium term. The £840m Special Situations and £249m Strategic funds rank in the top quartile of the peer group over the five years to 4 January, according to Morningstar. However, over one year both funds languish at the bottom of the peer group with a return of 0.1% and 1.4%. Over three years they have each returned just over 10% against an average 17.4%, ranking them in the bottom quartile. The duo said they are not prepared to tak...
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