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Murray Income Trust Plc

Murray Income Trust Plc

Sector: Unit Investment Trusts, Face-Amount Certificate Offices, and Closed-End Management Investment Offices Region: United Kingdom

: | London Stock Exchange: MUT

Listed in: Funds & Investment Trusts

Objective of Murray Income Trust Plc The objective of Murray Income Trust PLC is to achieve a high and growing income combined with capital growth through investment in a portfolio principally of UK equities.
History of Murray Income trust Plc Murray Income Trust is an investment trust traded on the London Stock Exchange and is a constituent of the FTSE Actuaries All-Share Index. The Caledonian Trust Company Limited (as Murray Income Trust PLC was originally called) was formed in 1923 to invest in growth areas of the day. It was very highly geared, borrowing at 3% and investing at 5%, almost entirely in fixed income securities. In January 1930, after a year which saw substantial profits, there were 497 holdings; 52.5% were bonds, loans and debentures, 28.5% preferred stocks and shares and only 18.9% equities. The portfolio spread was huge –31% ‘Home’, 10.5% ‘British Colonies and Dependencies’, 18% Europe, 15% USA, 7% Argentina, and so on down to 1% each in Cuba and Mexico and 5.5% in ‘other countries’. The big move into equities came after the 1930s slump, when bond defaults forced the purchase of higher yielding equities to fund the costs of the Trust’s gearing. After a number of amalgamations and reorganisations, Caledonian Trust Company emerged as a generalist investment trust. However, many trusts had a similar broad remit and there was a glut, so in 1979 the Board defined the investment brief more narrowly as income growth and changed the name of the Company to Murray Caledonian Investment Trust. Symbolised by the name change to Murray Income in 1984, the focus has since been on a relatively high yielding portfolio of UK blue chip equities.
About Aberdeen Asset Management Aberdeen Asset Management PLC is an international investment management group, managing assets for both retail and institutional clients from offices around the world. Listed on the London Stock Exchange since 1991, the group had over £183.3 billion under management as at 31 December 2010. Our headquarters are in Aberdeen, but we place our people near the companies and markets in which they invest. Today we have staff based in 30 offices across 23 countries.

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Latest Media

New - Murray Income Trust - encouraging outlook for UK dividend growth

Important information Risk factors you should consider prior to investing: In common with most investment companies, investment trusts may borrow to finance further investment (gearing). The use of gearing is likely to lead to volatility in the Net Asset Value (NAV) meaning that a relatively small movement, down or up, in the value of a trust’s assets will result in a magnified movement, in the same direction, of that NAV. In order to maintain the high level of dividend paid by the Trust some of the assets selected for the underlying portfolio may be liable to diminish in capital value over time. The value of shares and the income from them can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to the future. Exposure to a single country market increases potential volatility. There is no guarantee that the market price of shares in the Trust will fully reflect their underlying Net Asset Value. As with all stock exchange investments the value of investment trust shares purchased will immediately fall by the difference between the buying and selling prices, the bid-offer spread. Other important information: Issued by Aberdeen Asset Managers Limited which is authorised and regulated by the Financial Services Authority in the United Kingdom. Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419. An investment trust should be considered only as part of a balanced portfolio. Under no circumstances should this information be considered as an offer or solicitation to deal in investments.

Murray Income Trust Plc video

New - Murray Income Trust - encouraging outlook for UK dividend growth

Executives

Patrick Gifford BA, Chairman and Independent Non-Executive Director
Patrick Gifford was appointed a Director in July 1999 and Chairman in October 2004. He was previously a director of Robert Fleming Holdings and chairman of Fleming Investment Trust Management and Vtesse Networks. He is chairman of Martin Currie Pacific Trust, and is also a director of AlphaGen Aldebaran Fund Ltd, Invesco Perpetual Select Trust and Tapestry Investment Company PCC Ltd.
Humphrey van der Klugt BSC Hons, FCA, Senior Independent Non-executive Director
Humphrey van der Klugt was appointed a Director in May 2004. He was previously an executive director of Schroder Investment Management Limited. In a twenty-two year career at Schroders, he was a member of the Group Investment and Asset Allocation Committees; and as a UK equity manager, he was directly responsible for £3 billion of funds under management, including the Schroder UK Equity and Schroder Income Funds. He is currently chairman of the Supervisory Board of Schroder Exempt Property Unit Trust, chairman of Fidelity European Values PLC and a non-executive director of Merrill Lynch Commodities Income Investment Trust plc.
Neil Honebon MA, Independent Non-Executive Director
Neil Honebon was appointed a director on 4 August 2005. He was formerly a Director of Fleming Family and Partners Asset Management, where he was Chief Investment Officer. He has 30 years' experience in investment analysis and research and, while previously at Flemings, he was Head of Global Researach and deputy chair of the asset allocation committee. He is also a director of Volantis and Octanis, two hedge funds wtihin Gartmore's AlphaGen range.
David Woods MA, MSC, FIA, Independent Non-Executive Director
"David Woods was born in Liverpool and educated at the Universities of Cambridge and Sheffield. He is currently non-executive chairman of Royal Liver Assurance, and a non-executive director of Standard Life UK Smaller Companies Trust plc and of The Moller Centre for Continuing Education. He is also Chairman of the Pension Fund Trustees for all of the UK companies in the Steria Group, a trustee of the Scottish Provident Pension Fund, and a member of the Court, and Chairman of the Audit Committee, of Heriot-Watt University. Qualifying as a Fellow of the Institute of Actuaries in 1973, David has spent nearly 40 years working in the life insurance and investment industries both in the UK and abroad, Between 1988 and 2002, he was Group Managing Director of The Scottish Provident Group where he eventually managed that organisation through the process of its demutualisation and successful sale to the Abbey National Group. "
Jean Park, Independent Non-Executive Director
Jean Park was appointed a Director on 2 July 2012. She is Group Chief Risk Officer at Phoenix Group. Prior to that, she was Risk Management Director of the Insurance and Investments Division of Lloyds TSB and, before that, Head of Compliance and Audit at Scottish Widows.
Donald Cameron, Independent Non-Executive Director
Donald Cameron was appointed a Director in September 2012. He qualified at the Bar of England and Wales in 2002. Having transferred to the Faculty of Advocates, he was called to the Scottish Bar in 2005, and now practises as an Advocate in Scotland. He is a non-executive director of Edinburgh Worldwide Investment Trust plc.