MIGO invests in discount opportunities in the closed-ended sector where the managers believe there is a catalyst to extract the value. The trust is able to invest in any geography or asset class providing it is held in an investment trust structure. It is a highly concentrated portfolio of 10-15 core holdings from across the London-listed closed-end fund universe with either an activist or event-driven angle to drive returns.

Tom Treanor

Tom was named Co-Manager of MIGO Opportunities Trust in June 2025.  He joined AVI in February 2011 and was appointed to the Board of Asset Value Investors in September 2017. He is a Portfolio Manager and Head of Research, working closely with the analyst team providing support and guidance on prospective and current investments across the portfolios. Tom has specialised in closed-end funds over the past 20 years, particularly in activist engagement. Tom spent nine years working for Fundamental Data/Morningstar in various roles involving closed-end fund analysis. He has a degree in Economics from the University of Leicester and is a CFA charter holder.

Charlotte Cuthbertson

Charlotte joined AVI in July 2023 as a Fund Manager and has been co-manager of MIGO Opportunities Trust since it transitioned to AVI in late 2023. Charlotte has nine years’ experience in the finance industry, with the last 7 years specialising in investment trusts.  Prior to AVI she worked at Tyndall Investment Management and Premier Miton plc, where she assisted Nick Greenwood in managing MIGO.  Charlotte holds a BA in Modern History from St Anne’s College, Oxford.

JPMorgan Asia Growth & Income (JAGI) is designed to provide total return by investing in equities listed on the stock markets of Asia, excluding Japan. The Trust follows a disciplined, risk-aware investment approach and has the flexibility to select its highest-conviction ideas across any market or sector within the region. To deliver both growth and income to investors, JAGI utilises an enhanced dividend strategy, paying regular quarterly dividends equivalent to 1.5% of the net asset value (NAV) at the end of each quarter, provided there are no unforeseen circumstances. The portfolio typically consists of 50 to 80 diversified stocks.

Emily Whiting, managing director, is a Investment Specialist within the Emerging Markets and Asia Pacific (EMAP) Equities team, based in London. An employee since 2005, Emily previously worked in the London Request for Proposal Group, specialising in Far East and Emerging Markets equity products.  Emily obtained a B.Sc in Money, Banking and Finance from the University of Birmingham

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – one directorship is still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications.