Overview
Murray Income aims to achieve a high and growing income combined with capital growth through investment in a portfolio principally of UK equities. They do this by investing in the shares of companies that they believe have potential for real earnings and dividend growth, while at the same time providing an above-average portfolio yield. There is an emphasis on the management of risk and on the absolute return from the portfolio, achieved by ensuring an appropriate diversification of stocks and sectors, with a high proportion of its assets in strong, well-known companies. Murray Income makes use of low-cost, flexible borrowing facilities to enhance shareholder returns when appropriate.
Typically there will be between 30 and 70 holdings and up to 20% of the portfolio can be invested outside the UK.
Fundamentals
Price
Research History
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16 Oct 2020 1 min read
Interview with Charles Luke of Murray Income
In this week’s show, James Carthew talked to Charles Luke, manager of Murray Income Trust Watch it again here If you were looking for James Carthew’s roundup of the week’s news, this is now in the news section – just click here If there is a guest speaker you’d particularly like to hear from, please email us – […]
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09 Oct 2020 10 min read
QuotedData’s Economic Roundup – October 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Mar 2020 9 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Oct 2019 8 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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12 Oct 2018 2 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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13 Mar 2018 2 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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19 Oct 2017 2 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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12 Oct 2017 1 min read
QuotedData investment companies roundup – October 2017
QuotedData investment companies roundup – October 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2017. Kindly sponsored by Baillie Gifford. October Investment Companies Roundup Amongst the top performers, Alternative Liquidity Fund sold its […]
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2 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
News
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17 Nov 2020 2 min read
Perpetual/Murray merger complete
Perpetual/Murray merger complete – Murray Income Trust will acquire approximately £427m of net assets from Perpetual Income & Growth Investment Trust in consideration for the issue of 50,936,074 new shares in Murray Income, as the merger of the two trusts completes. The number of new shares to be issued was calculated based on a formula asset […]
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30 Oct 2020 2 min read
QuotedData’s weekly news show 30 October 2020
QuotedData’s weekly news show 30 October 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: a crossroads for UK Mortgages an unwelcome tender offer for shares in Alternative Income REIT Augmentum raising £28m […]
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2 min read
QuotedData’s morning briefing 30 October 2020
In QuotedData’s morning briefing 30 October 2020 – Augmentum Fintech (AUGM) successfully completed its placing and retail offer, with demand exceeding the issue size. Admission of the new shares to the LSE is expected on 3 November 2020. Tim Levene, CEO of AUGM’s manager, commented: “The success of this fundraise reflects the growing shift in the move […]
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25 Sep 2020 3 min read
Where has my income gone?
Where has my income gone? is a question many investors are asking as UK dividends are cut but at least investment trusts have revenue reserves to draw on. It looks as though we are about to lose another Dividend Hero as Temple Bar says it will cut its dividend by around 25% (to 38.5p from […]
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23 Sep 2020 3 min read
Murray Income delivers 47th consecutive year of dividend increase
Over Murray Income’s (MUT) financial year-ending 30 June 2020, it delivered total NAV and share returns of (5.3%) and (5.8%). Both were ahead of the FTSE all-share index total return of (13%). We have included a section on performance attribution below, which details where value was added and lost, over the year. MUT’s total dividends […]
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31 Jul 2020 2 min read
QuotedData’s weekly news show 31 July 2020
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: The planned merger between Perpetual Income and Growth and Murray Income JPMorgan Brazil’s board’s decision to recommend voting against continuation Watch it again here We’ll […]
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3 min read
A new champion
This week’s big story is the planned merger of Perpetual Income & Growth and Murray Income Trust. We think this is a great result – for PLI shareholders and could produce a new champion for the sector as a whole. The UK equity income sector has some great funds and managers, but it also seems […]
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29 Jul 2020 3 min read
Perpetual Income and Growth and Murray Income set to merge
Perpetual Income and Growth (PLI), which served notice to Invesco and Mark Barnett in April, has this morning announced that following a new manager search, the board has agreed a heads of terms for a combination of PLI with Murray Income (MUT). PLI notes: “MUT is managed by the UK Equities team at Aberdeen Standard Investments […]
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21 Sep 2018 3 min read
Murray Income hurt by Provident Financial profit warning
Murray Income hurt by Provident Financial profit warning – Murray Income reports that, over the year ended 30 June 2018, it returned +3.9%, which the board considers to be disappointing when compared to the All-Share Index return of +9.0%. The chairman’s report says that performance attribution analysis shows that UK sector allocation accounted for about three […]
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19 Jul 2018 1 min read
Investment Trust Insider on how to grow trusts
Investment Trust Insider on how to grow trusts James Carthew: imponderable questions in quest for scale Last week I addressed the uphill battle Ashoka India Equity (AIE) faces if it wants to expand, having raised just £46.5 million in its flotation. It is by no means the smallest fund out there, however. Many of the very smallest funds […]
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18 Sep 2017 1 min read
Investment trust insider on UK equity income
James Carthew: UK income trusts standing out from the crowd What makes an investment trust stand out from the crowd? It is a question that preoccupies many boards and it is relevant in a time when many investors are being warned off me-too funds, quasi-index trackers and even active investing. Two high-profile funds in the […]
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13 Sep 2017 4 min read
Murray Income cuts fees as announces 44th year of dividend increases
Murray Income cuts fees as announces 44th year of dividend increases – Murray Income Trust reports that, for the year ended 30 June 2017, the company generated a Net Asset Value Total Return of 16.7%, a little bit behind the 18.1% return from the All-Share Index. The discount narrowed and that helped produce a share price return […]
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16 Feb 2017 2 min read
Murray Income held back by lack of commodities exposure
Murray Income Trust says that, over the six months ended 31 December 2016,its NAV per share rose 8.7% on a total return basis; the wider UK market returned 12.0%. The share price ended the period at a discount to NAV of 11.1%, compared to 12.3% at 30 June 2016, resulting in a total return to shareholders over the period […]
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09 Sep 2016 3 min read
Murray Income’s tobacco holdings aid performance
Over the year to the end of June 2016, Murray Income Trust’s net asset value (total return) outperformed its benchmark, rising by 5.9%, compared to 2.2% for the FTSE All-Share Index. The Board is recommending a final dividend of 11.25p, which makes a total for the year of 32.25p, an increase of 0.8%. The shares produced a […]
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16 Feb 2016 1 min read
Murray Income beats All-Share in H2 2015
Murray Income says, over the 6 months ended 31 December 2015, the Company’s net asset value (“NAV”) per share fell by 1.0% on a total return basis outperforming the FTSE All-Share Index which fell by 2.0%. The Company’s share price ended the period at a discount to NAV of 8.0%, compared to 6.9% at 30 June […]
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11 Sep 2015 3 min read
Murray Income says large cap. and yield bias caused underperformance
Murray Income underperformed over the year to the end of June 2015 delivering a negative 2.2% return on net assets compared to a positive 2.6% return on its benchmark, the FTSE All-Share Index. The fund’s discount widened as well leaving shareholders with a 5.7% loss for the year. The dividend was increased from 31.25p to […]
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17 Feb 2015 1 min read
Murray Income hurt by Tesco holding
Murray Income’s interim figures, covering the second half of 2014, show the fund delivering a return on net assets of -2.9%, behind the return on the FTSE All-Share Index which was -0.4%. The fund’s rating improved however, reflecting a narrowing of the discount from 3.2% to 1.1%, and so the return to shareholders was -0.7%. The run […]
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02 Dec 2014 1 min read
The alternative plays in investment trusts
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
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10 Sep 2014 1 min read
Murray Income’s rating declines
MUT : Murray Income’s rating declines Over the year to 30 June 2014 Murray Income generated a total return on net assets of 14.0%, ahead of the return on its benchmark which was 13.1%. The share price lagged the net asset value however and so the return to shareholders was 9.4%. The dividend for the […]
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18 Feb 2014 1 min read
Murray Income : MUT – interim results
The return on NAV for Murray Income for the six months ended 31 December 2013 was 10.1%, a little behind the return on the FTSE All-Share Index of 11.3%. The manager says the reason for that was the fund’s overweight positions in pharmaceuticals and utilities
Upcoming Events
Videos
In The Press
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18 Jan 2021 2 min read
Trust sector urged to grow in order to ‘stay relevant’
From evolution to revolution: Investment trust sector urged to grow in order to ‘stay relevant’ David Brenchley, 14 January 2021, Investment Week Brokers have long called for a shake-up of the investment company sector, with Numis analyst Ewan Lovett-Turner lamenting in July there were too many sub-scale companies trading on wide discounts and called on […]
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2 min read
Big investment trust themes to watch in 2021
Big investment trust themes to watch in 2021 by Faith Glasgow from interactive investor | 11th January 2021 12:22 We highlight the trends and themes for investment trust fans to keep an eye on over the next year… Board activity One of the most significant themes of 2020 has been the run of manager changes, closures and consolidations in the […]
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05 Oct 2020 2 min read
Should you face the music over dividend cuts and dip into capital?
Should you face the music over dividend cuts and dip into capital? It’s seen as taboo – but some experts say now may be the time to break the golden rule By ANNE ASHWORTH FOR THE DAILY MAIL PUBLISHED: 21:51, 2 October 2020 | UPDATED: 13:26, 4 October 2020 These are dispiriting days for those needing a decent income from […]
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25 Aug 2020 2 min read
How to survive the dividend drought
How to survive the dividend drought: Covid sent payouts plummeting in the second quarter… but relief may finally be at hand By ANNE ASHWORTH FOR THE DAILY MAIL PUBLISHED: 21:51, 14 August 2020 | UPDATED: 08:43, 15 August 2020 If you are one of the many investors who need an income, prepare for a little good news. A few big […]
