Murray Income Trust - Attractive income at a discount
Murray Income Trust (MUT) invests mainly in UK equities and aims to provide a high and growing income, combined with capital growth. The trust is meeting these three objectives. The FY23 dividend is expected to be at least 36.5p, putting it on track to deliver its 50th consecutive year of dividend growth. This represents a prospective yield of 4.4%. MUT has underperformed during this year’s market rotation away from the quality companies favoured by manager Charles Luke. However, the trust has slightly outpaced the market over the long term on an NAV basis; in the 10 years ended October 2022, MUT’s average annualised NAV return was 6.7%, compared to an average market return of 6.3%.Murray Income Trust is an investment trust company. Co. invests in portfolio of equities in the U.K. Co. invests no more than 15% of gross assets in other listed investment companies (including investment trusts). Co.'s investment portfolio comprised of a range of sectors including oil and gas, basic materials, industrials, consumer goods, healthcare, consumer services, telecommunications, utilities, financials, and technology. Co. is managed by Aberdeen Fund Managers Limited. As of June 30, 2017, Co.'s total investments amounted to £595.4 million.
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