Edison issues review on Martin Currie Global

RNS Number : 6621S

Martin Currie Global Portfolio Tst

26 June 2018

 

London, UK, 26 June 2018

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

Martin Currie Global Portfolio Trust (MNP) aims to generate long-term capital growth and real dividend growth from a diversified portfolio of high-quality global equities. With a view to succession planning, effective from 30 June 2018, the trust will be co-managed by Zehrid Osmani, working alongside the incumbent manager, Tom Walker. Osmani previously worked at BlackRock and is now head of Martin Currie's global long-term unconstrained team. He has 21 years' investment experience. Data from Morningstar show that MNP's historical investment returns have been achieved with lower volatility compared with the average of its peers in the AIC Global sector. The trust operates a zero discount policy and has a progressive dividend strategy. Its current yield is 1.7%. Changes to MNP's fee structure will see the annual management charge reduced from 0.5% to 0.4% of NAV with effect from FY19.

As a result of MNP's zero discount policy, which was adopted in 2013, its shares always trade close to NAV (in normal market conditions). The current 2.2% share price discount to cum-income NAV compares with the range of averages over the last one, three, and five years of 0.6% to 0.8%. MNP's board has a progressive dividend policy; annual distributions have been increased or maintained every year since the fund was launched. Its current dividend yield is 1.7%.

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