Murray Income Trust

LSE: MUT

Market Cap£970m

Last Close 839p

MUT aims for a high and growing income combined with capital growth through investment in a portfolio principally of UK equities. Its investment policy is to invest in companies that have potential for real earnings and dividend growth, while also providing an above-average portfolio yield. The emphasis is on the management of risk and the absolute return from the portfolio. MUT measures its performance versus the broad UK stock market.

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Investment summary

Murray Income Trust (MUT) invests mainly in UK equities and aims to provide a high and growing income, combined with capital growth. The trust is meeting these three objectives. The FY23 dividend is expected to be at least 36.5p, putting it on track to deliver its 50th consecutive year of dividend growth. This represents a prospective yield of 4.4%. MUT has underperformed during this year’s market rotation away from the quality companies favoured by manager Charles Luke. However, the trust has slightly outpaced the market over the long term on an NAV basis; in the 10 years ended October 2022, MUT’s average annualised NAV return was 6.7%, compared to an average market return of 6.3%.

Content on Murray Income Trust
Murray Income Trust – Attractive income at a discount
Investment companies | research Update | 30 November 2022
Building 6
Murray Income Trust – Attractive income and long-term outperformance
Investment companies | research Update | 20 May 2022
Building 6
Murray Income Trust – A happy anniversary for shareholders
Investment companies | research Review | 10 December 2021
Building 6
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Price performance
%
1m
3m
12m
Actual 9.5 3.1 (3.6)
Relative* 2.6 (0.2) (6.2)
52-week high/low 934.0p/715.0p
*% relative to local index
Key management
Louise Bouverat Manager - Investment Trust Promotion

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