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At close 10-Dec-2013Ord
|Net Dividend Yield||4.06%|
|Net Dividend Yield||3.12%|
* Debt at market value
** Debt at par
Source: Morningstar, NAV = Net Asset Value, excluding income.
The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.Read the detailed Risk Warning
Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.
40 Princes Street,
Registered in Scotland as an Investment Company Number SC0006705
The objective of Murray International Trust PLC is to achieve a total return greater than its benchmark by investing predominantly in equities worldwide. Within this objective the Manager will seek to increase the Company’s revenues in order to maintain an above average dividend yield.
In this webcast Bruce gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.
Grossly irresponsible political brinkmanship effectively shut-down the United States government early in the period, causing widespread disruption to services and employment. Perversely, the resulting vacuum in economic data was positively embraced by sentiment-driven investors convinced that no economic news must be good news.
Uninterpretable distortions in the flow of data provided the perfect excuse for Monetary Authorities to keep printing money, thereby providing even more excess liquidity for global equity markets to move higher. Consequently valuations, particularly in US equities, became ever more extended.
There were no material transactions over the period.
Anaemic trend growth and trend inflation throughout most of the debt-ridden developed world suggests deflationary forces continue to dominate the global economic landscape. Unfortunately, with policymakers constantly terrified about the potential negative impact of rising bond yields, this suggests no respite is in sight from the grotesque practice of quantitative easing. Yet the difficulties associated with exiting such unconventional policy will only get worse the longer the process prevails. Against this backdrop the portfolio remains defensive, diversified and focused on capital preservation.
Source: Monthly Factsheet Aberdeen Asset Managers Limited