Assuming it gets shareholder approval, The CF Miton Strategic Portfolio will be renamed the CF Miton Defensive Multi Asset Fund, while the CF Miton Special Situations Portfolio will become the CF Miton Cautious Multi Asset Fund.
According to Ian Chimes, head of sales at Miton: “David’s natural way of investing favours investing directly through securities.”
As a result of this, the firm said, the portfolio will also be changed to allow a more flexible approach to… [that] will enable the fund managers to invest directly in securities rather than substantially in other authorised funds.”
According to Chimes, the added benefit of this approach will be a lower ongoing charges figure.
Asked why it decided to change the name as well as the investment approach, Chimes said: “We believe that the new names better reflect the post-annuity world, where there is a drive toward outcome investing and people are getting more involved in their pension funds.”
Miton said it is also reevaluating the two funds’ IA sector classifications. They currently sit in the Flexible sector, but the firm said it is rethinking this.
Following shareholder approval the name and investment changes will take effect from 23 March 2015.
