The Lemon Fool

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

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

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

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!

Best wishes


Mark

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

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.

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

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.

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.