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The Company currently conducts its affairs so that securities issued by Murray International Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.
The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because the company would qualify as an investment trust if the company were based in the UK.
The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Murray International Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.
The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.
At close 02-Jul-2015Ord
|Net Dividend Yield||4.87%|
|Net Dividend Yield||4.74%|
* 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.
Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.
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 Stout gives an update on a wide range of subjects including the Trust’s performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.
Recent economic data depicting China edging perilously close to joining the US, Europe and the UK in experiencing negative price inflation attracted surprisingly little attention from financial markets. The spectre of Chinese deflation, combined with increasingly fragile growth throughout the Western world, suggests systemic supply and demand imbalances continue to haunt the global economic backdrop.
Impotent without influence, save for relentless remonstrating rhetoric, central bank policymakers were confined to spectate as financial markets oscillated to the ever-changing sentiment of investor’s hopes and expectations .The boundaries of rational risk/return potential remained worryingly breached by over-valued equities intent on ignoring stretched corporate fundamentals and over-valued government bonds not adequately pricing for credit risk.
Profits from a partial reduction in Roche were reinvested in HSBC.
With excessive technical leverage squeezing numerous sovereign bond yields into negative territory, the logic for savers to invest in fixed income securities that will ultimately guarantee negative nominal returns defies all investment sense. Stretched and illogical valuations usually always lead to capital destruction regardless of prevailing short-term justifications, thus great care must continue to be exercised in such an alien investment environment to preserve capital. Towards this end, the portfolio strategy remains unchanged.
Source: Monthly Factsheet Aberdeen Asset Managers Limited