Attractive offering of income and capital growth

London, UK, 18 January 2024

Edison issues update on Murray International Trust (MYI): Attractive offering of income and capital growth

Murray International Trust’s (MYI’s) three managers, Bruce Stout, Martin Connaghan and Samantha Fitzpatrick, have worked closely together since 2001, so it will be business as usual when Stout retires at the end of June. The trust has amassed considerable revenue reserves (equivalent to around one year’s annual dividend) so was able to continue its progressive dividend policy during COVID; MYI returned to a covered dividend in FY22. Despite high inflation preventing real (above inflation) dividend growth in recent years, the trust now has an 18-year record of consecutive annual dividend growth and offers an attractive 4.6% dividend yield, which compares favourably with its peers in the AIC Global Equity Income sector, most of which, unlike MYI, can pay dividends out of capital.

Portfolio turnover is relatively low as Stout, Connaghan and Fitzpatrick invest with a long-term perspective, seeking ‘good businesses at good prices’. Decision-making is a collaborative, measured process, and all three managers must agree on a transaction before it goes ahead. Recent new positions include alcoholic beverage companies Diageo and Pernod Ricard, where share price weakness provided attractive entry points.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.

Having been the first company in-market 17 years ago, Edison has more than 100 employees and covers every economic sector. Headquartered in London, Edison also has offices in New York, Sydney and Wellington.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

Mel Jenner +44 (0)20 3077 5700  investmenttrusts@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on: 

LinkedIn www.linkedin.com/company/edison-group-/

Twitter  www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv