Murray Income Trust

LN: MUT

Market Cap£994m

Last Close 832p

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. Its quality bias has resulted in underperformance during the recent rotation away from the quality and growth stocks favoured by manager, Charles Luke. However, the trust’s long-term track record of outperformance of the market and its peers confirms that Luke’s approach pays off over time. Over the ten years to end March 2022, MUT has generated an average annualised return of 8.1% on an NAV basis and 7.7% in share price terms, compared to a market return of 7.2%. The trust’s FY22 dividend is expected to be at least 34.75p, putting it on track to deliver its 49th consecutive year of dividend growth. This represents a prospective yield of 4.1%.

Content on Murray Income Trust
Murray Income Trust – Attractive income and long-term outperformance
Investment companies | research Update | 20 May 2022
Murray Income Trust – A happy anniversary for shareholders
Investment companies | research Review | 10 December 2021
Murray Income Trust – Maintaining a commitment to quality and income
Investment companies | research Review | 18 May 2021
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Share price graph
Price performance
%
1m
3m
12m
Actual (4.3) (6.4) (6.3)
Relative* 0.5 (0.6) (4.0)
52-week high/low 952.0p/770.0p
*% relative to local index
Key management
Louise Bouverat Manager - Investment Trust Promotion

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