Martin Currie Global Portfolio Trust (LSE: MNP)

Last close As at 27/03/2024

GBP3.92

−3.00 (−0.76%)

Market capitalisation

GBP275m

Martin Currie Global Portfolio Trust’s objective is to achieve a total return in excess of the total return of the benchmark MSCI AC World Index. Prior to 1 February 2020 the objective was to generate a capital return in excess of the capital return of a less broad global index.

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Equity Analyst

Melanie Jenner

Mel Jenner

Director, Investment Trusts

Key Management

  • Christopher Pyrkosz

    Head of Investment Trust Marketing

  • Gillian Watson

    Chairman

  • Zehrid Osmani

    Fund manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 3.1 14.8 20.8
Relative (0.1) 11.9 12.9
52 week high/low 397.0p/299.0p

Overview

Martin Currie Global Portfolio Trust’s (MNP’s) manager Zehrid Osmani was correct in his assumption that investors were too conservative in 2023; global equities delivered an above-average total return led by large-cap US technology stocks. However, he believes that the consensus outlook for 2024 is too bullish given economic uncertainty and increasing geopolitical risks. The manager’s view is that with inflation remaining elevated, western central banks will not reduce interest rates until the second half of 2024, which is likely to cause disappointment and stock market volatility. With such an investment backdrop, he stresses the importance of focusing on high-quality companies with structural growth opportunities and strong balance sheets that can weather the prevailing headwinds.

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