Overview

Murray International B shares carry the same rights as Murray International’s ordinary shares. The difference is that holders of Murray International B shares receive their dividends by means of a capitalisation issue as opposed to a cash dividend. With effect from the payment of the final dividend in 2007, the capitalisation issue received by B Ordinary shareholders has been made every time a dividend is paid on the Ordinary shares. B Ordinary shareholders also have the right to convert their shares into Ordinary shares once a year.

Murray International aims to achieve a total return greater than its benchmark (40% FTSE World UK and 60% FTSE World ex UK) by investing predominantly in equities worldwide. Within this objective the Manager seeks to increase the Company’s revenues in order to maintain an above average dividend yield. It is a stock-picking fund – benchmark weights are not taken into account when constructing the portfolio.