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Murray International Trust PLC

A high conviction global portfolio built with the potential to grow capital and deliver a strong and rising income

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Annual General Meeting (AGM) and Online Shareholder Presentation

Due to restrictions in place at the time of the Company’s AGM on 23 April 2021, the Board decided to hold an interactive Online Shareholder Presentation in advance. During the presentation, attendees received updates from the Chairman and Manager and a recording is available to watch below.

Watch manager Bruce's presentationplay_circle_outline
Read the annual report

Latest News

An update from our investment manager, Bruce Stout - 22 April 2021

Emerging from a global pandemic which paralysed most of the planet last year was never going to be straightforward, and so it is proving. In addition to clinical mutations causing renewed outbreaks and social controls varying enormously from country to country, the path to recovering economic prosperity appears littered with potential potholes which will require delicate negotiation. Rising interest rates could have numerous consequences but for now equity markets seem content to interpret them positively as a “sign” of strengthening economies. Further along the track it remains to be seen whether the price of current government spending bailouts will be greater regulation, higher taxation and ultimately a war on inequality so exacerbated by the lockdown events of 2020. Such themes will continue to exercise the mind as the portfolio maintains its fully diversified, global positioning in pursuit of its long term investment objectives.

Listen to the latest podcast with our managers
Read the latest Edison research note
Read the Company's latest Regulatory News Service (RNS) announcements

Key people

Bruce Stout

Bruce Stout

Senior Investment Manager

Education and Experience

Bruce Stout is a senior investment manager on the Global equities team. Bruce joined Aberdeen in 1987 via the acquisition of Murray Johnstone. Bruce has held a number of roles including investment manager on the emerging markets team.
Bruce graduated with a BA in Economics from the University of Strathclyde and completed a graduate training course with General Electric Company UK.

Martin Connaghan

Martin Connaghan

Investment Director

Education and Experience

Martin is an Investment Director on the Global Equity Team at Aberdeen Standard Investments. Martin began his career at Murray Johnstone in 1998 and joined ASI via the acquisition of Murray Johnstone in 2001. Martin has held a number of roles including Trader, Credit Analyst and ESG Analyst, however he has been focused on the management of global equity portfolios for the last fifteen years.

Samantha Fitzpatrick

Samantha Fitzpatrick

Investment Director

Education and experience

Samantha is an Investment Director on the Global Equity Team at Aberdeen Standard Investments. Samantha joined ASI in 2001 via the acquisition of Murray Johnstone where she was a Performance and Risk Analyst. Samantha has been involved in the management of global equity portfolios for the last fifteen years. She has a BSC (Hons) degree in Mathematics from the University of Strathclyde and is a CFA Charter holder.

  • Bruce Stout

    Bruce Stout

    Senior Investment Manager

    Education and Experience

    Bruce Stout is a senior investment manager on the Global equities team. Bruce joined Aberdeen in 1987 via the acquisition of Murray Johnstone. Bruce has held a number of roles including investment manager on the emerging markets team.
    Bruce graduated with a BA in Economics from the University of Strathclyde and completed a graduate training course with General Electric Company UK.

  • Martin Connaghan

    Martin Connaghan

    Investment Director

    Education and Experience

    Martin is an Investment Director on the Global Equity Team at Aberdeen Standard Investments. Martin began his career at Murray Johnstone in 1998 and joined ASI via the acquisition of Murray Johnstone in 2001. Martin has held a number of roles including Trader, Credit Analyst and ESG Analyst, however he has been focused on the management of global equity portfolios for the last fifteen years.

  • Samantha Fitzpatrick

    Samantha Fitzpatrick

    Investment Director

    Education and experience

    Samantha is an Investment Director on the Global Equity Team at Aberdeen Standard Investments. Samantha joined ASI in 2001 via the acquisition of Murray Johnstone where she was a Performance and Risk Analyst. Samantha has been involved in the management of global equity portfolios for the last fifteen years. She has a BSC (Hons) degree in Mathematics from the University of Strathclyde and is a CFA Charter holder.

Simon Fraser

Simon Fraser

Chairman and Independent Non-Executive Director

He was previously Global Chief Investment Officer of Fidelity International Ltd having held other senior roles within Fidelity including President of Fidelity's European and Institutional business. He spent time with Fidelity in Asia and in North America. He is currently Chairman of McInroy and Wood Ltd, The Investor Forum and the independent research boutique TS Lombard. He is also on the board of Fidelity Funds SICAV, Treasurer of the Kings Fund and a trustee of the Abbotsford Trust. On 1 March 2021 he was appointed to the board of Impax Environmental Markets plc.

Claire Binyon

Claire Binyon

Independent Non-Executive Director

Education and Experience

She is a chartered accountant who, following an early career in the City, held senior corporate development and strategic planning roles with global multinational businesses including inBev, Cadbury, DS Smith and Fenner (a Michelin group company). She is a non-executive director of JPMorgan American Investment Trust PLC.

David Hardie

David Hardie

Senior Independent Director

Education and Experience

He is a corporate lawyer by background and was formerly a partner of UK law firm, Dundas & Wilson (now part of CMS), where he was a partner for over 30 years and where he previously held various positions including head of corporate, managing partner and chairman. David is also a non-executive chairman of WNL Investments Limited.

Ali Mackesy

Alexandra Mackesy

Independent Non-Executive Director

Education and Experience

She is a former investment equity research analyst by background having spent the majority of her executive career in Asia. She is a non-executive director of JPMorgan China Growth & Income Trust plc and The Henderson Smaller Companies Investment Trust plc and a former director of The Scottish Oriental Smaller Companies Trust Plc, RENN Universal Growth Investment Trust Plc, Schroder Asian Total Return Investment Co Plc and Empiric Student Property Plc.

Nick Melhuish

Nick Melhuish

Independent Non-Executive Director

Nick was appointed to the Board of Murray International Trust PLC on 1 May 2021. He joined Corpus Christi College, Oxford as Fellow and Bursar in 2018 following a portfolio management career most recently as Head of Global Equities at Amundi SA. He is a non executive director of JPMorgan Claverhouse Investment Trust PLC, a trustee of the Trusthouse Charitable Foundation and a director and trustee of The London Clinic.

  • Simon Fraser

    Simon Fraser

    Chairman and Independent Non-Executive Director

    He was previously Global Chief Investment Officer of Fidelity International Ltd having held other senior roles within Fidelity including President of Fidelity's European and Institutional business. He spent time with Fidelity in Asia and in North America. He is currently Chairman of McInroy and Wood Ltd, The Investor Forum and the independent research boutique TS Lombard. He is also on the board of Fidelity Funds SICAV, Treasurer of the Kings Fund and a trustee of the Abbotsford Trust. On 1 March 2021 he was appointed to the board of Impax Environmental Markets plc.

  • Claire Binyon

    Claire Binyon

    Independent Non-Executive Director

    Education and Experience

    She is a chartered accountant who, following an early career in the City, held senior corporate development and strategic planning roles with global multinational businesses including inBev, Cadbury, DS Smith and Fenner (a Michelin group company). She is a non-executive director of JPMorgan American Investment Trust PLC.

  • David Hardie

    David Hardie

    Senior Independent Director

    Education and Experience

    He is a corporate lawyer by background and was formerly a partner of UK law firm, Dundas & Wilson (now part of CMS), where he was a partner for over 30 years and where he previously held various positions including head of corporate, managing partner and chairman. David is also a non-executive chairman of WNL Investments Limited.

  • Ali Mackesy

    Alexandra Mackesy

    Independent Non-Executive Director

    Education and Experience

    She is a former investment equity research analyst by background having spent the majority of her executive career in Asia. She is a non-executive director of JPMorgan China Growth & Income Trust plc and The Henderson Smaller Companies Investment Trust plc and a former director of The Scottish Oriental Smaller Companies Trust Plc, RENN Universal Growth Investment Trust Plc, Schroder Asian Total Return Investment Co Plc and Empiric Student Property Plc.

  • Nick Melhuish

    Nick Melhuish

    Independent Non-Executive Director

    Nick was appointed to the Board of Murray International Trust PLC on 1 May 2021. He joined Corpus Christi College, Oxford as Fellow and Bursar in 2018 following a portfolio management career most recently as Head of Global Equities at Amundi SA. He is a non executive director of JPMorgan Claverhouse Investment Trust PLC, a trustee of the Trusthouse Charitable Foundation and a director and trustee of The London Clinic.

Financial calendar

Year End 31 December
Accounts published March
Annual General Meeting April
Dividend Paid February, May, August, November

Trust details

Murray International Trust PLC

Registered Office:
1 George Street
Edinburgh
EH2 2LL

Registered in Scotland as an Investment Company Number SC006705

Launch Date: December 1907
Risk warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.