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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 investment products 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 06-Mar-2014Ord
|Net Dividend Yield||4.20%|
|Net Dividend Yield||2.98%|
* 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.
The process of reducing monetary stimulus in the United States dominated the global economic backdrop over the month. Data obsessed investors remained transfixed by day-to-day statistics but the wider picture revealed an evolving environment of declining liquidity and confidence.
Convinced of accelerating economic recovery with imminent profits to match, equity investors were ill-prepared to deal with disappointing data and numerous corporate earnings shortfalls. Reality proved painful to an investment world high on unrealistic expectations. Equity market declines were widespread with emerging markets suffering more than most.
Some additional investment was added to the existing position in Casino, a French retailer with numerous overseas subsidiaries.
If the challenge last year was to preserve capital and contain expectations against a backdrop of rising bond yields, this year the same environment prevails with the extra hurdle of matching lofty earnings projections. Having priced-in so much positive anticipation in advance, stock markets remain very vulnerable to bad news. As companies struggle to deliver rising profits due to intense competition and deflationary pressures on margins, the scope for disappointment is ubiquitous
Source: Monthly Factsheet Aberdeen Asset Managers Limited