Murray Income Trust PLC Edison issues review on Murray Income Trust (MUT)
October 18 2019 - 4:13AM
RNS Non-Regulatory
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Murray Income Trust PLC
18 October 2019
London, UK, 18 October 2019
Edison issues review on Murray Income Trust (MUT)
Murray Income Trust (MUT) has significantly outperformed its
FTSE All-Share Index benchmark and the majority of peers over the
past year, in large part due to its focus on high-quality companies
with strong balance sheets, which have held up better than others
in recent bouts of market volatility. Manager Charles Luke takes a
long-term approach, giving time for company fundamentals to win
through and reducing trading costs. The trust has an increased
focus on mid-cap and smaller companies (now c 30% of the portfolio)
and also has the ability to invest up to 20% (currently c 11%)
overseas. The manager highlights MUT's attractive income
characteristics, with a 4.0% yield, above-average dividend growth
and dividend security, and a 46-year record of increasing its
annual payouts.
At 16 October 2019, MUT's shares traded at a 4.0% discount to
cum-income NAV. This was an increase from the narrowest point in
three years (3.4%, in May 2019) but is well below the average
discounts over one, three and five years, which range from 6.2% to
7.7%. The discount has narrowed on the back of strong NAV
performance; while the higher share price has also caused MUT's
dividend yield to dip to 4.0%, the portfolio continues to enjoy
higher forecast dividend growth than the index.
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For more information please contact Edison:
Sarah Godfrey, +44 (0)20 3681 2519
Mel Jenner, +44 (0)20 3077 5720
investmenttrusts@edisongroup.com
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