Bill Miller, a legendary stock-picker whose career has spanned 50 years, has formalized his succession plan. Miller will hand over Miller Opportunity to current comanager Samantha McLemore but will stay on as comanager through 2022. Pending shareholder approval, the fund will shift from Miller Value Partners to Patient Capital Management, which McLemore established in 2020. After the transition, Miller will be a senior advisor and minority owner of Patient Capital Management and Miller Value Partners, where his son Bill Miller IV will continue to run Miller Income and will launch a related exchange-traded fund in 2022.
Miller Opportunity FI LMOFX
NAV / 1-Day Return
39.92
/
0.18
%
Total Assets
2.2 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.350%
Expense Ratio
1.350%
Fee Level
High
Longest Manager Tenure
22.05
years
Category
Mid-Cap Blend
Investment Style
Mid ValueMin. Initial Investment
0
Status
Open
TTM Yield
0.00%
Turnover
64%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will LMOFX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable LMOFX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the LMOFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of LMOFX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Miller Opportunity's Longtime Manager Formalizes Succession Plan; Ratings Unchanged
