The MI Discretionary Unit Inc
|Bid Price||GBX 2,346.88||Offer Price||GBX 2,477.87|
|Mid Price||-||Day Change||GBX +9.34 (0.40%)|
|Price Date||26 May 2017||Crown Rating|
|Shares Class||Inc.||Yield||1.21 %|
|Total Expense Ratio||1.13||Fund Size||38,289,656.00|
|Launch Date||08/08/1963||Standard Initial Charge (%)||3.00|
|Annual Management Charge (%)||1.00||Sector||IMA UK Equity Income|
|Min Investment (£)||3,000.00||Total Expense Ratio (%)||1.13|
|ISIN||GB0002708708||Min TopUp (£)||0.00|
The investment objective of the Scheme is to provide maximum appreciation with above average yield for a growth fund.
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.