Murray Income Trust - Milestones marked by a return to form
Murray Income Trust (MUT) marks its 100-year anniversary this year. It invests mainly in UK equities and aims to provide capital growth and a high and growing income. The trust continues to meet these three objectives. Recent absolute and relative performance has improved after a rare bout of underperformance last year, as the merits of MUT’s high-quality portfolio holdings reassert themselves. In the six months to end April 2023, the trust returned 15.8% on an NAV basis, versus a market return of 12.8%. The trust is also on track to meet another milestone: 50 successive years of dividend growth. The FY23 dividend is expected to be at least 36.5p, which represents a prospective yield of 4.2%. MUT’s manager, Charles Luke, is confident the trust is well-positioned to continue delivering positive returns and growing income over the long term.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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