Business as usual ahead of manager’s retirement

London, UK, 21 March 2024

Edison issues review on Murray International Trust (MYI): Business as usual ahead of manager’s retirement

Murray International Trust’s (MYI’s) managers are transitioning smoothly from a team of three to two, ahead of Bruce Stout’s retirement at the end of June 2024. The two remaining managers, Martin Connaghan and Samantha Fitzpatrick, have worked closely with Stout since 2001, so MYI’s shareholders can have confidence that it will be ‘business as usual’ in H224 and beyond. Regardless of the market environment, the managers strive to fulfil their objectives of generating income and capital growth higher than the rate of UK inflation and to have a covered dividend. However, in years of lower income, the board can draw on the trust’s revenue reserves, which are equivalent to more than the annual dividend payment, to enable MYI’s progressive dividend policy to continue.

MYI is a very well-established trust, with an experienced collaborative management team, offering investors the prospects of both income and capital growth. Its low-risk approach, seeking ‘good businesses at good prices’, should help to protect investors’ capital during periods of market volatility. The managers employ a long-term perspective with low portfolio turnover; some of the positions have been in the fund for more than 20 years. Versus its peers, MYI has a higher allocation to emerging markets due to their higher growth potential and attractive valuations. As a result of heightened investor risk aversion in an uncertain macroeconomic environment, the trust’s discount is meaningfully wider than its historical averages, which may provide a very favourable entry point for investors.

 
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