Miton launches US Opps fund for former Swip man

Miton Group is launching a US equity fund targeting a return of 5% over an investment cycle.

The CF Miton Opportunities fund will use a bottom-up stock-picking approach and will have a concentrated number of high conviction positions.

The fund will be run by Nick Ford, who recently joined the firm from Scottish Widows Investment Partnership, where he managed three US equity portfolios.

Ford will take an unconstrained approach and will typically hold 35-50 stocks with an investment universe comprising companies in the Russell 3000 index – or 98% of the investable US market.

In his new role, Ford will work alongside co-manager Hugh Grieves, who previously managed the Herald Worldwide fund.

With the US recovery gathering momentum, Ford believes now is a good to launch the fund: ‘We believe that investors’ perceptions of the US are changing. America is in the early stages of a significant manufacturing renaissance, fuelled by improving cost competitiveness, most notably against formerly low cost countries in Asia,' he said in a statement.

‘In addition, the emerging shale gas revolution is providing a plentiful supply of cheap natural gas, driving down energy costs and giving US based companies a further competitive advantage.

He added: ‘We envisage a continued recovery in corporate earnings and the potential for a re-rating of the market as investors’ confidence in the outlook grows.’