Edison issues review on Murray Income Trust (MUT)

RNS Number : 2958M

Murray Income Trust PLC

07 May 2020

 

London, UK, 7 May 2020

Edison issues review on Murray Income Trust (MUT)

Murray Income Trust (MUT) aims to provide a high and growing income combined with capital growth, through investment in a diversified portfolio of mainly UK equities. It has achieved these objectives both recently and longer term, delivering 46 consecutive years of increasing annual dividends, and outperforming its benchmark (a broad UK stock market index) and most of its peers during the recent market turbulence and over the long term. Manager Charles Luke's approach is based on identifying dependable stocks, which have the capacity to weather downturns, and on diversification across income, capital and sector. He focuses on high-quality companies, including mid-caps, which he believes produce less volatile income streams and are better placed to navigate uncertain times and capitalise on opportunities to create value over the longer term.

As at 5 May 2020, MUT's shares traded at a 6.7% discount to cum-income NAV. This is wider than in recent times - it nudged into premium territory briefly in early March - but narrower than the average levels of 7.0% and 7.3% over the past three and five years respectively (see Exhibit 10). The discount has been in a broadly narrowing trend since mid-2018. MUT's dividend yield currently stands at 4.8%.

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