Murray International Trust Plc

Global Equity Income

Rated Fund 2014-2018. A 'Stout' long-term performance record

Murray International sports the highest yield among Rated Funds in this asset group. The investment trust yields 3.8 per cent and pays dividends quarterly.Bruce Stout has notched up an impressive track record with this trust since 2004. FundCalibre, the fund ratings and research provider, likes his forthright, high-conviction approach and ability to invest in bonds to support the yield from shares in the portfolio.

Stout focuses on defensive businesses where he has a high degree of confidence that the companies will be able to continue to deliver earnings and dividends, and on not paying too high a price for their shares.He believes that being able to invest globally gives him scope for great diversification, which helps to reduce volatility. Nevertheless, he has been reducing his exposure to the UK and Europe, and the trust's holdings in these areas are now at their lowest levels for more than 20 years. At the end of 2017, Stout had more than 60 per cent in Asia Pacific, Latin America, Japan and other emerging markets � with 46 per cent in equities and 15 per cent in bonds issued by companies in these parts of the world.Murray International aims to grow and preserve investors' capital and pay an above-average and growing income � something that investors are increasingly attracted to. That is exemplified by the shares trading at a modest premium to their net asset value for most of 2017, though there have been five periods during the past three years in which they could be bought at a discount, the widest being almost 8 per cent.

Narrative and ratings content all as of 01 January 2018.

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Murray International Trust Plc
Closed Ended Investment Company
Global Equity Income
0.64 %
Risk Rating
3 Year Sharpe
3 Year Alpha
4.6 %
Fund Size
£ 1.53 billion
Discount Premium
To achieve a total return greater than its benchmark by investing predominantly in equities worldwide. Within this objective the Manager will seek to increase the revenues of the company in order to maintain an above average dividend yield.
Holding %
Grupo Aeroportuario del Sureste SAB de CV Class B 4.65 %
Taiwan Semiconductor Manufacturing Co Ltd 4.00 %
Sociedad Quimica Y Minera De Chile SA ADR 3.46 %
Taiwan Mobile Co Ltd 3.30 %
PT Unilever Indonesia Tbk 2.91 %
CME Group Inc Class A 2.71 %
Bank Bradesco SA ADR 2.60 %
Daito Trust Construction Co Ltd 2.58 %
Verizon Communications Inc 2.56 %
Total SA 2.56 %
Region %
Latin America 20.33 %
Asia - Developed 17.61 %
United States 15.88 %
United Kingdom 12.17 %
Asia - Emerging 10.40 %
Europe - ex Euro 7.33 %
Sector %
Financial Services 16.77 %
Consumer Defensive 15.79 %
Communication Services 15.56 %
Industrials 13.09 %
Basic materials 10.96 %
Technology 8.60 %
Energy 7.88 %
Healthcare 6.80 %
EC4M 9HH, London, United Kingdom
Legal Structure
Closed Ended Investment Company


Bruce Stout
Joined 06/16/2004

Bruce Stout is a Senior Investment Manager on the Global Equity Team. He joined Aberdeen in 2001 via the acquisition of Murray Johnstone where he held a number of roles including Investment Manager for their 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.

Data provided by Morningstar.

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