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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 they are securities in an investment trust.
At close 23-Apr-2014Ord
|Net Dividend Yield||3.98%|
|Net Dividend Yield||3.15%|
* 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 his investment outlook for 2014 Bruce Stout, manager of Murray International Trust, explains why the ‘grotesque’ practice of quantitative easing has left developed market equities looking overvalued.
Despite this unfavourable backdrop, he tells Money Observer editor Andrew Pitts, equities are his favoured asset class, and he is finding well-run companies at less demanding valuations in the emerging markets.
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.
With the vast majority of investors slavishly obsessing over daily dispatches of global growth statistics, scant attention was paid to recent data depicting a record deterioration in the UK’s hideously disfigured current account deficit. Such a worrying structural imbalance in the trade of goods and services suggests onerous future financing requirements may soon begin to severely question the sustainability of recent sterling strength.
Deflationary effects from long overdue reductions in public and private debt continued to adversely affect overall corporate profitability. Numerous earnings disappointments from companies exposed to retailing, industrial and consumer discretionary business sectors dampened enthusiasm towards equities and generally restrained financial markets over the period.
Funds raised from top-slicing positions in Weir and Johnson & Johnson were reinvested by adding to existing holdings in Casino and Taiwan Mobile.
Continued sovereign balance sheet expansion coupled with prevailing excessive leverage throughout the developed world suggests economic activity will remain hostage to fragile confidence and fluctuating bond yields for some considerable time. Such an environment pressurises companies to secure sales growth at the expense of margin, hence the outlook for corporate profitability remains decidedly opaque. Great caution will be maintained towards capital preservation in such an inherently hostile investment backdrop.
Source: Monthly Factsheet Aberdeen Asset Managers Limited