Premier Miton UK Multi Cap Fund‘s objective of the Fund is to provide an income with capital growth over the long-term, being five years or more. Five years is also the minimum recommended period for holding shares in this Fund.
Premier Miton UK Multi Cap Income Fund – Six month update from 1 October 2025 to 31 March 2026
At a glance
• After a strong rally early in 2026, global equities reached a peak as the Iran conflict triggered
simultaneous falls in both global share and bond markets.
• A key feature of the Premier Miton UK Multi C ap Income Fund Income strategy is the broadness of
its multi -cap portfolio, invested across the full range of market capitalisations and industry sectors.
• In the 6 month period ended 31 March, the fund delivered 6.21%. T he FTSE All -Share Index
returned +8.95 %, whereas the FTSE AIM All -Share Index fell -7.75 %. The IA UK Equity Income
Sector rose by + 4.84 % over the six months.
Background – market overview
After a strong rally early in 2026 , global equities reached a peak as the Iran conflict triggered a rare,
correlated sell -off where we saw both the price of global company shares and bonds fall at the same time.
Despite market uncertainty and heightened volatile markets (bigger and more frequent market swings) ,
the largest listed companies in the UK still appreciated over the period and continued to outperform most
international indices, including the US. Importantly, contrary to the last five -year trend, market breadth
widened somewhat recently, meaning more companies contributed to returns, rather than performance
being driven by just a handful of companies , as some small energy and mining companies greatly
outperformed. Many other small company share prices reflected the weak market trend however, so
small company share prices as a whole still fell over the 6 months .
