(Corrects that Murray International has no benchmark, and that the FTSE All World TR Index had a negative return of 7.3%, instead of a positive return of 7.3%.)

Murray International Trust PLC on Friday reported a growth in net asset value as it cited an uncertain outlook.

The Edinburgh-based trust said that its net asset value per share at December 31 was up 4.3% to 1,293.3p from 1,240.3p a year before.

Its 2022 NAV total return stood at 8.8% compared the FTSE All World TR Index, which had a negative total return of 7.3%. Murray International uses the index as a reference, but has no benchmark. Looking ahead, Murray International expects the ‘deep-rooted’ macroeconomic difficulties, such as high borrowing costs and inflation, to continue. ‘Seldom has the economic outlook seemed so uncertain,’ it added. However, it noted that its diversified exposures are designed to deliver the company’s long-term objectives.

The company proposed a final dividend of 20.0p per share, up from 19.0p a year ago. This brings the total 2022 dividend to 56.0p, higher than 55.0p in 2021.

Separately, on Friday, Murray asked shareholders to approve the sub-division of its ordinary shares of 25p each into five new shares of 5p each. ‘The sub-division is intended to assist monthly savers and those who reinvest their dividends or are looking to invest smaller amounts, and to improve the liquidity in and marketability of the company’s shares,’ the company explained.

Murray International Trust will hold its annual general meeting on April 21.

Murray International Trust shares were 0.4% higher at 1,359.28 pence each in London on Friday afternoon.

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