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

The Board has been monitoring closely the ongoing impact of the Covid-19 pandemic upon the arrangements for the Company's upcoming AGM on 23 April 2021. Due to restrictions in place at the time of writing, the Board decided to hold an interactive Online Shareholder Presentation on Tuesday 13 April 2021. During the presentation, attendees received updates from the Chairman and Manager and a recording will shortly be available to watch. Shareholders can still submit their proxy votes prior to the AGM on 23 April 2021 and the Board would encourage all shareholders to lodge their votes in advance in this manner.

Latest News

An update from our investment manager, Bruce Stout - 19 March 2021

Against the constantly evolving clinical backdrop year to date, “reading the tea leaves” of what lies ahead for the battered and bruised global economy as it emerges from pandemic lockdowns is very difficult. Yet for the first time in a long time, improving trading statements from portfolio held companies are beginning to provide some clarity. Those businesses exposed to economic recovery are increasing reporting improvements. Dividends are being reinstated in previously hard-hit sectors such as banking and insurance, and for commodity producers of iron ore, copper, fertilizers and lithium, to name but a few, profits and dividends are surging. Energy demand is sharply recovering, and in manufacturing sectors such as semiconductors and factory automation, demand continues to outstrip supply creating extremely favourable dynamics for incumbent companies. The overall portfolio remains exposed to a diversified selection of such businesses.

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.

kevin carter

Dr Kevin Carter

Chairman and Independent Non-Executive Director

Education and Experience

He was previously Managing Director and Head of EMEA Pension Advisory Group at JP Morgan Securities. Prior to that Dr Carter was Head of the European Investment Consulting Practice at Watson Wyatt and formerly CEO of Old Mutual Asset Managers in both the UK and the US. He is a trustee director of the Universities Superannuation Scheme and chairman of its investment committee and performs the same roles for the BBC Pension Scheme. He is also a director of JPMorgan American Investment Trust PLC, Aspect Capital Limited and Newton Investment Management Limited.

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.

Marcia Campbell

Marcia Campbell

Independent Non-Executive Director

Education and Experience

She was operations director at Ignis Asset Management having previously been group operations director and CEO Asia Pacific at Standard Life until 2010. She is a director of CNP Assurances in France, Marsh UK & Ireland, Charles Stanley Group PLC, Canada Life Group and Canada Life Limited and is a member of the independent governance committee for Aviva UK and ROI.

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.

Simon Fraser

Simon Fraser

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.

  • kevin carter

    Dr Kevin Carter

    Chairman and Independent Non-Executive Director

    Education and Experience

    He was previously Managing Director and Head of EMEA Pension Advisory Group at JP Morgan Securities. Prior to that Dr Carter was Head of the European Investment Consulting Practice at Watson Wyatt and formerly CEO of Old Mutual Asset Managers in both the UK and the US. He is a trustee director of the Universities Superannuation Scheme and chairman of its investment committee and performs the same roles for the BBC Pension Scheme. He is also a director of JPMorgan American Investment Trust PLC, Aspect Capital Limited and Newton Investment Management Limited.

  • 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.

  • Marcia Campbell

    Marcia Campbell

    Independent Non-Executive Director

    Education and Experience

    She was operations director at Ignis Asset Management having previously been group operations director and CEO Asia Pacific at Standard Life until 2010. She is a director of CNP Assurances in France, Marsh UK & Ireland, Charles Stanley Group PLC, Canada Life Group and Canada Life Limited and is a member of the independent governance committee for Aviva UK and ROI.

  • 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.

  • Simon Fraser

    Simon Fraser

    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.

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.