Edison issues review on Murray International Trust
London, UK, 12 October 2021
Edison issues review on Murray International Trust (MYI)
Murray International Trust (MYI) is managed by abrdn's (formerly Aberdeen Standard Investments) global equity team, which is headed by Bruce Stout; he is supported by Martin Connaghan and Samantha Fitzpatrick. The fund continues to have a large weighting to emerging markets as these are where the managers see the most attractive growth prospects along with reasonable valuations. Stout refers to 2021 being a 'year of repair and recovery', and he is encouraged by the improvement in the trust's income stream. In terms of capital growth, the manager believes that economic improvements outside of developed markets will be particularly in evidence in 2022 as the global COVID-19 vaccine roll-out gains momentum. Stout also favours real assets given the current inflationary environment, which is being exacerbated by issues in global supply chains.
In FY20, MYI's board was able to continue with its progressive dividend policy by drawing on reserves; the total distribution was +1.9% year-on-year, which was above the level of UK inflation. Based on its current share price, MYI offers an attractive 5.1% dividend yield. Since the beginning of 2021, the managers are able to enhance the trust's income via writing covered options and stock lending.
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