Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to Howard,bruncher,SalvorHardin,tea42,yyuryyub, for Donating to support the site

Murray International (divi)

Closed-end funds and OEICs
ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#434813

Postby ADrunkenMarcus » August 14th, 2021, 8:01 pm

Dod101 wrote:It does but, not only that, it also contains a listing of 100% of the investments. I rather like Bruce Stout and he has a good selection of shares I think. I am perfectly happy to hold Murray International indefinitely.

Dod


These things often go in cycles. Maybe MYI will shine in the 2020s after a relatively poor decade. I was encouraged by recent activity trading bonds for equities such as AbbVie.

Best wishes


Mark

TUK020
Lemon Quarter
Posts: 1755
Joined: November 5th, 2016, 7:41 am
Has thanked: 620 times
Been thanked: 1005 times

Re: Murray International (divi)

#434851

Postby TUK020 » August 15th, 2021, 9:36 am

Dod101 wrote:
richfool wrote:HALF YEARLY REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2021
Performance and Dividends

The net asset value (NAV) total return, with net income reinvested, for the six months to 30 June 2021 was 8.7%. The Company does not have a benchmark but this compared with the 11.4% return of the Company's Reference Index (the FTSE All World TR Index). Over the six month period, the share price total return was 7.3%, reflecting a small widening of the discount at which the shares traded over the NAV. The Manager's Review contains more information about the drivers of performance in the period and the portfolio changes effected.

Two interim dividends of 12.0p (2020: 12.0p) have been declared in respect of the period to 30 June 2021. The first interim dividend is payable on 16 August 2021 to shareholders on the register on 2 July 2021 and the second interim dividend will be paid on 19 November 2021 to shareholders on the register on 8 October 2021. As stated previously, the Board intends to maintain a progressive dividend policy given the Company's investment objective. This means that in some years revenue will be added to reserves while, in others, revenue may be taken from reserves to supplement earned revenue for that year to pay the annual dividend. Shareholders should not be surprised or concerned by either outcome as, over time, the Company will aim to pay out what the underlying portfolio earns. The Board currently intends in 2021 at least to match the dividend payout of 54.5p per share in 2020. It is expected that this will again entail some use of the significant revenue reserves built up over prior years for occasions such as the current pandemic. At the end of June 2021 the Balance Sheet revenue reserves amounted to £58.2m.

https://www.investegate.co.uk/murray-in ... 00065200I/

The report includes a listing of the top 70 investments.


It does but, not only that, it also contains a listing of 100% of the investments. I rather like Bruce Stout and he has a good selection of shares I think. I am perfectly happy to hold Murray International indefinitely.

Dod

Likewise. I also like the exposure to the semiconductor industry, which I feel to be a good long term position, and one not available through the FTSE

Newroad
Lemon Slice
Posts: 691
Joined: November 23rd, 2019, 4:59 pm
Has thanked: 8 times
Been thanked: 212 times

Re: Murray International (divi)

#434974

Postby Newroad » August 15th, 2021, 8:38 pm

Hi All.

I held MYI for the kids for a decent time, I'm guessing a decade or so, but swapped it out wholesale for MWP as indicated here: https://lemonfool.co.uk/viewtopic.php?f=54&t=26433&p=432493&hilit=myi#p432493: That has thus far appeared to be a decent choice, with MWP since outperforming by 14% or so

Image

Since I started considering a change last year (documented in the same link, but was not always going to be MWP as the replacement) MYI has done OK, with MYI plus 5% or so against its final replacement

Image

Over the long term (here, 20 or so years) it's done reasonably well - even outperforming the FTSE All World Index!

Image

As can be seen though, most of that was in the first half of the period - here's a 10 year one

Image

During this more recent period, it sort of tags along with the main FTSE indexes (100 and 350).

So, your can form your own view - we all vote with our feet as I have done - but who knows?

Regards, Newroad

PS In case anyone is wondering, I keep all my holdings, past and present, in one version of a Trustnet - so I can over any relevant timeframe look back with satisfaction or regret at a given choice, such as the MYI -> MWY one above. However, it's more for amusement or sadness - it doesn't itself play directly into any subsequent decisions.

Dod101
The full Lemon
Posts: 12261
Joined: October 10th, 2017, 11:33 am
Has thanked: 2980 times
Been thanked: 5386 times

Re: Murray International (divi)

#434978

Postby Dod101 » August 15th, 2021, 8:57 pm

Being primarily an income investor, Mid Wynd does not really attract me although your numbers are interesting I must say so I will stick with Murray International pro tem anyway.

Dod

Newroad
Lemon Slice
Posts: 691
Joined: November 23rd, 2019, 4:59 pm
Has thanked: 8 times
Been thanked: 212 times

Re: Murray International (divi)

#434979

Postby Newroad » August 15th, 2021, 9:05 pm

Fair enough, Dod.

To be honest, MWY is only relevant in so far as it was my personal choice as a replacement. I am not advocating it per se.

The 3rd and 4th diagrams (and in general, the whole post) was intended mainly to be helpful re MYI.

Regards, Newroad

Dod101
The full Lemon
Posts: 12261
Joined: October 10th, 2017, 11:33 am
Has thanked: 2980 times
Been thanked: 5386 times

Re: Murray International (divi)

#434997

Postby Dod101 » August 15th, 2021, 10:55 pm

Newroad wrote:Fair enough, Dod.

To be honest, MWY is only relevant in so far as it was my personal choice as a replacement. I am not advocating it per se.

The 3rd and 4th diagrams (and in general, the whole post) was intended mainly to be helpful re MYI.

Regards, Newroad


And so it is. Thank you.

Dod

ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#435298

Postby ADrunkenMarcus » August 17th, 2021, 9:35 am

On the bright side, MYI's first interim dividend for the year landed yesterday and it's a big one. Mostly because I hold so many shares! :D

Best wishes


Mark

Dod101
The full Lemon
Posts: 12261
Joined: October 10th, 2017, 11:33 am
Has thanked: 2980 times
Been thanked: 5386 times

Re: Murray International (divi)

#435343

Postby Dod101 » August 17th, 2021, 12:20 pm

ADrunkenMarcus wrote:On the bright side, MYI's first interim dividend for the year landed yesterday and it's a big one. Mostly because I hold so many shares! :D

Best wishes


Mark


Isn't it a bit odd that Murray International's yield is much higher than that of Murray Income's? (4.7% against 3.5%) I hold both. I suppose it is a reflection of the fact that Murray International 's share price has not changed in the last three years whereas Murray Income has gone from £7.80 to £9.50 over the same period.

I have not checked but I suppose the share prices reflect the NAV, Currently they both seem to be sitting at about a 4.4% discount.

There was a time when Murray Income was seen as the dog.

Dod

monabri
Lemon Half
Posts: 6542
Joined: January 7th, 2017, 9:56 am
Has thanked: 995 times
Been thanked: 2485 times

Re: Murray International (divi)

#435351

Postby monabri » August 17th, 2021, 12:37 pm

I'm surprised..but the total return on MUT is indeed higher than MYI over recent years!

Cumulative returns ( data from HL https://www.hl.co.uk/funds/fund-discoun ... ion/charts )

Code: Select all

Investment      | 3 months | 6 months | 1 year | 3 years | 5 years
MURRAY INC.TST. |    5.38% |   11.94% | 29.59% |  37.75% |  54.47%
MURRAY INTL.TST |   -5.05% |    2.59% |  24.2% |  14.28% |   29.82



I, naturally have a largish % holding in MYI... :roll:

ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#435496

Postby ADrunkenMarcus » August 17th, 2021, 8:34 pm

I always thought MUT was a bit manky. I'm surprised at this! Especially since UK equities have done relatively badly recently.

Best wishes

Mark.

Dod101
The full Lemon
Posts: 12261
Joined: October 10th, 2017, 11:33 am
Has thanked: 2980 times
Been thanked: 5386 times

Re: Murray International (divi)

#435506

Postby Dod101 » August 17th, 2021, 9:26 pm

Thanks monabri. I noticed that my holding in Murray Income was a good bit higher than Murray International and your numbers explain it because I do very little topping up these days and I think I bought them in about equal quantities]. I bought most of Murray International in 2015/16 at prices at or below £9 so have not done too badly with it.

Dod

ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#435507

Postby ADrunkenMarcus » August 17th, 2021, 9:28 pm

Dod101 wrote:Thanks monabri. I noticed that my holding in Murray Income was a good bit higher than Murray International and your numbers explain it because I do very little topping up these days and I think I bought them in about equal quantities]. I bought most of Murray International in 2015/16 at prices at or below £9 so have not done too badly with it.

Dod


Timing has been key.

I think my first tranche from July 2012 was bought around £10. I topped up in 2016 when it was lower and I suspect my 2020 purchase was similar or better to the 2012 price (without looking up the figures). People buying in 2016 locked in a good yield!

Best wishes


Mark.

kempiejon
Lemon Quarter
Posts: 2399
Joined: November 5th, 2016, 10:30 am
Has thanked: 1 time
Been thanked: 742 times

Re: Murray International (divi)

#435528

Postby kempiejon » August 17th, 2021, 10:53 pm

I have both the Murrays and the tell different stories.
MUT was mine in Oct 2014 and more in July, August and September of 2015 - today I see a 30% capital increase and I think around 4% income.
MYI was bought in Aug 2016, July 2017 and finally March 18. My holding is worth about what I paid for them, income has been around 4% much of that time.

Dod101
The full Lemon
Posts: 12261
Joined: October 10th, 2017, 11:33 am
Has thanked: 2980 times
Been thanked: 5386 times

Re: Murray International (divi)

#435565

Postby Dod101 » August 18th, 2021, 7:12 am

I guess that all in all for income investors (as I am) they have not been a bad buy. I try not to fret too much at what sometimes appears to be a poorish out turn.

Dod

richfool
Lemon Quarter
Posts: 3619
Joined: November 19th, 2016, 2:02 pm
Has thanked: 938 times
Been thanked: 1063 times

Re: Murray International (divi)

#449460

Postby richfool » October 12th, 2021, 9:03 am

Edison issues review on Murray International Trust:
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.

https://www.investegate.co.uk/murray-in ... 00087045O/

Full Report here:

https://www.edisongroup.com/publication ... ream/30035

ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#449666

Postby ADrunkenMarcus » October 12th, 2021, 9:31 pm

richfool wrote:Since the beginning of 2021, the managers are able to enhance the trust's income via writing covered options and stock
lending


While their focus is on a growing dividend income, I do wonder if this is a nod to the poor capital performance. Are they going to buy into some 'growthier' stocks and use covered calls to try and boost the dividend income?

Best wishes


Mark.

monabri
Lemon Half
Posts: 6542
Joined: January 7th, 2017, 9:56 am
Has thanked: 995 times
Been thanked: 2485 times

Murray International (divi)

#462917

Postby monabri » December 3rd, 2021, 4:08 pm

https://www.investegate.co.uk/murray-in ... 28355719U/

"Announcement of Third Interim Dividend 3 December 2021

The Board has today declared a third interim dividend in respect of the year ending 31 December 2021 of 12.0p net (2020: 12.0p) which will be payable on 18 February 2022 to Ordinary shareholders on the register on 7 January 2022, ex dividend date 6 January 2022."

ADrunkenMarcus
Lemon Quarter
Posts: 1379
Joined: November 5th, 2016, 11:16 am
Has thanked: 553 times
Been thanked: 397 times

Re: Murray International (divi)

#462966

Postby ADrunkenMarcus » December 3rd, 2021, 7:25 pm

Another welcome dividend payment.

The final for 2021, probably declared in April and paid around mid May 2022, will be interesting. I'm wondering if they will make it a round 20p which would give us 56p for 2021, up from 54.5p for 2020 - that would be a rise of 2.75% but probably behind inflation.

Best wishes


Mark.

richfool
Lemon Quarter
Posts: 3619
Joined: November 19th, 2016, 2:02 pm
Has thanked: 938 times
Been thanked: 1063 times

Re: Murray International (divi)

#520190

Postby richfool » August 5th, 2022, 6:51 pm

Murray International Trust PLC
Announcement of Second Interim Dividend

5 August 2022

The Board has today declared a second interim dividend in respect of the year ending 31 December 2022 of 12.0p net (2021: 12.0p) which will be payable on 18 November 2022 to Ordinary shareholders on the register on 7 October 2022, ex dividend date 6 October 2022.

https://www.investegate.co.uk/murray-in ... 24131378V/

Hmm, the same as last year's first, second and third dividends then.

CryptoPlankton
Lemon Slice
Posts: 715
Joined: November 4th, 2016, 12:12 pm
Has thanked: 1323 times
Been thanked: 725 times

Re: Murray International (divi)

#520250

Postby CryptoPlankton » August 6th, 2022, 1:34 am

richfool wrote:
Murray International Trust PLC
Announcement of Second Interim Dividend

5 August 2022

The Board has today declared a second interim dividend in respect of the year ending 31 December 2022 of 12.0p net (2021: 12.0p) which will be payable on 18 November 2022 to Ordinary shareholders on the register on 7 October 2022, ex dividend date 6 October 2022.

https://www.investegate.co.uk/murray-in ... 24131378V/

Hmm, the same as last year's first, second and third dividends then.

It's been 12p for the first three quarters in each of the past three years with the Q4 dividend increasing slightly each time. I'm expecting a Q3 dividend of 12p and Q4 probably 19.5p or 20p (mainly just so they can boast an 18th consecutive year of dividend growth).


Return to “Investment Trusts and Unit Trusts”

Who is online

Users browsing this forum: ax1709cjm and 2 guests