Edison issues review on Martin Currie Global Port'

RNS Number : 4000M

Martin Currie Global Portfolio Tst

07 January 2019

 

London, UK, 7 January 2019

Edison issues review on Martin Currie Global Portfolio Trust (MNP)

Martin Currie Global Portfolio Trust (MNP) has a new lead manager, Zehrid Osmani, formerly a senior portfolio manager and head of European equities research at BlackRock. He describes the trust as 'the same vehicle with a new engine', and is very excited about the prospects in his new role. Having introduced new elements to Martin Currie's investment process, the manager is confident that the trust's performance can improve, which he hopes will become apparent over the next 24 months. Osmani recognises that the AIC Global sector is a competitive peer group, so he understands that MNP's performance needs to stand out from the crowd. The trust has a zero discount mechanism and a progressive dividend policy, and currently offers a yield of 1.8%.

MNP's shares are currently trading at a 1.7% share price premium to cum-income NAV. This compares to average discounts over the last one, three and five years in a range of 0.6% to 0.9%. The board employs a zero discount policy, ensuring that the trust's shares regularly trade close to NAV; so far in FY19, 8.1% of its end-FY18 share base has been repurchased (c 7.5m shares at a cost of c £18.5m). 

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