|
Edison Investment Research Limited
London, UK, 1 November 2023
Edison issues update on Murray Income Trust (MUT): In a celebratory mood Murray Income Trust (MUT) is currently celebrating two key milestones. This year marks its 100-year anniversary, and 50 years of consistently rising dividends. MUT’s FY23 dividend of 37.5p (up from 36.0p in FY22) represents a current yield of 4.7% and MUT’s board has stated that maintaining the trust’s record of annually increasing dividends remains a priority. Performance has improved after a rare bout of underperformance last year. In the year ended September 2023, MUT returned 14.5%, in line with the benchmark, and in the 10 years to September, it delivered an average annual return of 6.1% on an NAV basis, versus a market return of 5.6%. The trust’s managers, Charles Luke and Iain Pyle, are confident its exposure to some ‘unstoppable long-term trends’ means it is well-positioned to continue delivering positive returns and growing income over the long term. MUT may appeal to investors seeking exposure to a diversified portfolio of high-quality, resilient, mainly UK stocks. The trust is diversified by sector and by income source: 80% of portfolio income is sourced from abroad, which provides significant protection from any deterioration in the UK’s economic climate. A programme of option writing provides a further modest, uncorrelated supplement to portfolio revenues. The trust’s good long-term performance track record of outright gains and outperformance of the market and most of its AIC peers should interest potential investors. Those seeking a regular, competitive and rising income will appreciate MUT’s commitment to its policy of annually increasing dividends, delivered via quarterly dividend payments. Another potential drawcard for investors is that UK equity valuations are currently low on an absolute and relative basis versus other major markets.
All reports published by Edison are available to download free of charge from its website 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 . 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: Joanne Collins +44 (0)20 3077 5700 Learn more at and connect with Edison on: YouTube
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1762695 01-Nov-2023
