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Murray International Trust ISA and Share Plan
Risk Warning
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 WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 17-May-2012
Ord| Price | 918.00p |
| NAV* | 855.19p |
| NAV** | 860.67p |
| Prem/-Disc* | 7.34% |
| Prem/-Disc** | 6.66% |
| Net Dividend Yield | 4.36% |
Ord B
| Price | 925.00 |
| NAV* | 855.08 |
| NAV** | 860.56 |
| Prem/-Disc* | 8.18% |
| Prem/-Disc** | 7.49% |
| Net Dividend Yield | 4.32% |
Source: Morningstar
* Debt at market value
** Debt at par
NAV = Net Asset Value
Literature
Trust Details
Murray International Trust PLC
Registered Office:
7th Floor
40 Princes Street,
Edinburgh,
EH2 2BY
Registered in Scotland as an Investment Company Number SC0006705
Murray International Trust PLC
Objective
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.
Bruce Stout's global market outlook
Money Observer's deputy editor Ruth Emery finds out where Bruce Stout, manager of the top-performing Murray International Trust, will be investing in 2012 – and the areas that he will be avoiding – as well as his outlook on dividends.
MINT: Stout's canny defence
Over the past five years Murray International Trust's share price has almost doubled and in its latest annual results the dividend has been increased by nearly 16pc. However, despite upbeat equity markets, Edinburgh-based manager Bruce Stout tells Robert Miller he is still risk-averse with a defensive portfolio.
Manager's Monthly Report
April 2012
Background
Decelerating declines in housing, incomes and employment suggest the macroeconomic backdrop in the debt-dependent developed world may be beginning to stabilise, albeit at lower levels of activity. Such stagnation provided some crumbs of comfort for those still clinging to popular misconceptions that a “normal recovery” is about to emerge from the wreckage of the global credit crisis.
Performance
Global equity markets continued their upward ascent over the month, adding to positive returns over the quarter. Content to ignore cautious trading statements from companies and downward earnings revisions from forecasters, investors enthusiastically divested of bonds in favour of equities, in the hope that brighter prospects for growth lay ahead.
Activity
Money raised from profit taking in PPT Exploration and Production in Thailand and Swire Properties in Hong Kong was reinvested through additions to existing holdings in Roche in Switzerland, Taiwan Mobile and Kimberly Clark de Mexico.
Outlook
Based on fresh hope and optimism, global equity markets have experienced one of the strongest first quarter rallies this century. Unfortunately, when did hope or optimism ever lead to sustainable financial gains? Economic stagnation doesn’t mean vibrant green shoots of recovery are suddenly about to flourish, especially against a backdrop of enormous structural private and public sector indebtedness. The strategy remains defensive, focusing on capital preservation and income growth
Source: Monthly Factsheet Aberdeen Asset Managers Limited