Edison Investment Research - Murray Income Trust PLC (MUT) Murray Income Trust - Differentiated approach to UK equity income

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Edison Investment Research

Pedro Fonseca

Murray Income Trust - Differentiated approach to UK equity income

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 cÂ 30% of the portfolio) and also has the ability to invest up to 20% (currently cÂ 11%) overseas. The manager highlights MUTâ€™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.

18/10/2019 11 EN

Underlying

Murray Income Trust PLC

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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GB0006111123 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Pedro Fonseca

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Murray Income Trust - Differentiated approach to UK equity income

Edison issues update on Murray Income Trust (MUT): Delivering income and capital growth

Murray Income Trust - Delivering income and capital growth

Murray Income Trust: 1 director

International Public Partnerships - Consistently and responsibly delivering

Portobello SpA - Focus back on the operations

Intralot - Focus on business development in FY24

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