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MI Discretionary Unit Inc

Ranked 3 out of 50 in - UK Smaller Companies over 12 months
All calculations are in GBP unless stated

Managed by

Simon Knott

Simon Knott's fine analytical brain has helped him become an international chess master and a top fund manager in the UK Smaller Companies sector. 'The important thing in chess, as well as the stockmarket, is to make good decisions and to keep your error rate down,' says Knott. The Discretionary unit trust, which was originally launched in 1963, has been a strong performer since he took charge of it in 1990. London-born Knott, graduated from Trinity College, Cambridge, with an Economics degree. He started his career at family stockbroking firm Green & Co, which was taken over by Greig Middleton and later Gerrard. He was director of the group between 1988 and 1997, before his Discretionary venture. Knott describes himself as a 'deep value' investor who pays little attention to the macroeconomic issues apart from keeping abreast of general economic trends. On his business visits, he makes a point of going to the business locations of small firms so he can see the quality of their technology or second tier management at first hand.


To provide maximum appreciation with above average yield for a growth fund through concentration in UK smaller and medium sized companies. This is achieved through a stable medium term portfolio not subject to frequent adjustments. The benchmark index is the FTSE All Share Index.

Showing fund performance in United Kingdom View performance globally


UK Smaller Companies over : 31/05/2016 - 31/05/2017

Total Return

Quarterly Performance

to 31/03/2017 Annual Q1 Q2 Q3 Q4
2017 10.3%
2016 20.3% -0.3% -3.6% 14.5% 9.4%
2015 22.8% 7.6% 10.6% -0.8% 4.1%
2014 -2.8% 4.2% 0.6% -5.8% -1.6%
2013 39.6% 4.1% 2.6% 17.4% 11.4%
2012 26.2% 12.3% -3.8% 8.8% 7.4%
2011 -2.1% 2.5% 8.5% -15.3% 3.9%
2010 35.1% -2.5% 5.1% 7.1% 23.1%
2009 34.2% -22.1% 28.1% 28.9% 4.3%
2008 -47.4% -10.2% -4.4% -14.6% -28.2%
2007 -5.6% 7.5% 5.2% -5.6% -11.5%
2006 23.6% 5.0% -1.6% 10.1% 8.7%
2005 21.8% 11.0% -0.3% 6.9% 3.1%
2004 22.1% 5.4% 1.1% 3.1% 11.1%
2003 40.4% -4.0% 20.1% 14.9% 6.0%
2002 -3.2% 7.5% -3.0% -9.8% 2.8%
2001 8.2% -5.5% 9.5% -12.9% 20.0%
2000 25.6% -0.6% 4.4% 6.8% 13.4%
1999 39.0% 5.6% 13.2% 3.0% 12.8%
1998 12.5% 10.5% 6.0% -13.1% 10.5%
1997 14.7% 1.8% 0.4% 5.8% 6.1%
1996 8.7% 0.3% 5.1% -1.6% 4.8%
1995 3.5%

Month by Month Performance

Returns Vs Risk

Asset Allocation



Top 10 Holdings

Stock Size
Treatt PLC ORD 10.68
Rights & Issues Investment Trust PLC Income 9.26
Macfarlane Group PLC ORD 6.22
Churchill China PLC ORD 5.46
Scapa Group PLC ORD 4.32
Hill & Smith Holdings PLC ORD 4.18
Electrocomponents PLC ORD 4.15
John Menzies PLC ORD 4.10

Registered For Sale In

  1. United Kingdom

Fund Info

  • Launch date01/08/1963
  • Share Class size44Mn
  • Base currencyGBP
  • ISIN GB0002708708

Purchase Info

  • Min. initial investment3,000
  • Min. regular additional investment0


  • Annual management1.00%
  • Initial investment3

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Performance is for the period shown (month end to month end, bid/bid, gross income reinvested, calculated in the currency and currencies indicated).