Murray Income Trust | Research

Charles Luke highlights a trio of reasons why the UK market looks compelling at present and the importance of focusing on quality companies when there’s so much noise.

Charles Luke, fund manager of Murray Income Trust, explains how the team look to construct a diversified portfolio of quality companies both domestically and overseas to drive income and capital returns for shareholders. Murray Income have been buying back shares and, as such, have been net sellers with the management team exiting from Drax, Croda, and Marshalls. Charles also describes one new holding, Rotork, which has a leading role to play in the energy transition. The team have a strong ESG focus with a AA MSCI ESG rating placing them in the top 5% of funds in the peer group, and the top 1% of the global fund universe.

Murray Income Trust has increased its dividend every year for 50 years. The announcement of the 4th interim dividend payment this year takes the total dividend 37.5p, representing a 9.2% compound annual growth rate over the last 50 years. Fund manager, Charles Luke, reflects on this significant milestone and unpacks some of the drivers behind the consistently strong dividend performance over the last 5 decades.

Murray Income Trust tends to be more defensively positioned with a focus on quality. Charles Luke, fund manager, explains that they expect to see the trust outperform in times of market weakness as a result, and this played out in the early part of 2023.