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London, UK, 10 November 2020
Edison issues review on Murray International Trust (MYI)
Murray International Trust (MYI) provides investors with a diversified portfolio of global equities and fixed income securities. Lead manager Bruce Stout aims to generate an above-average dividend yield, with long-term growth in dividends and capital ahead of inflation. While there have been unprecedented pressures on dividends globally, and many businesses have suffered due to the current healthcare crisis, the overall focus of the portfolio remains on companies with robust cash generation, under-leveraged balance sheets and exposure to growth areas such as emerging markets. The manager and his colleagues in the global equity team at Aberdeen Standard Investments (ASI) have taken the opportunity following the stock market pullback earlier this year to introduce a selection of new high-quality names into the portfolio.
MYI's shares are currently trading at a 5.1% discount to its cum-income NAV, which is a lower valuation than its historical averages. There is scope for the trust to return to trading at a premium if its performance improves or there is greater investor appetite for income rather than growth strategies.
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