Murray Income Trust PLC Edison reviews Murray Income Trust (MUT)
November 26 2020 - 8:14AM
RNS Non-Regulatory
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Murray Income Trust PLC
26 November 2020
London, UK, 26 November 2020
Edison reviews Murray Income Trust (MUT)
Murray Income Trust's (MUT) recent combination with Perpetual
Income and Growth Investment Trust (PLI) has doubled the trust's
assets under management to GBP1.1bn and is expected to deliver a
substantial fee reduction to investors. MUT invests in a
diversified portfolio of mainly UK equities and aims to provide a
high and growing income, combined with capital growth. It has
achieved these objectives, having just delivered its 47th
consecutive year of increasing annual dividends, while also
outperforming its benchmark (a broad UK stock market index) and
most of its peers over both the short and longer term. Manager
Charles Luke's success - even in the current climate, which has
been characterised by widespread dividend cuts - confirms his
conviction that 'quality, sustainable and growing income is out
there, if you know where to look'. He intends to maintain his
research-intensive search for resilient companies capable of
growing future earnings and dividends over time.
A favourable investor response to the recent combination with
PLI has seen MUT's shares trade into premium territory. As at 24
November, this premium to cum-income NAV was 0.2%. This compares
with average discounts of 4.8%, 6.4%, 7.2% and 4.1% over the past
one, three, five and 10 years. MUT's current dividend yield stands
at 4.1%.
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