Japan bias hurting Miton

short-term returns negative for global/strategic funds but both made gains over three years

A high exposure to Japanese equities is denting the short-term performance of Miton's Global and Strategic funds of funds (Fofs). The former has 15% exposure to the market and the latter 16%. "Despite the short-term performance, we are sticking with Japan and still like the story," said Sam Liddle, who runs the £15m Global Fof sector. "We are not reducing exposure - the market is doing that for us." Over three months to 9 August, the fund, which sits in the active managed sector, is ranked 69 out of 83, with a bid-to-bid loss of 4.9%. The £12m Miton Strategic portfolio, run by Marti...