London, UK, 20 May 2022
Edison issues update on Murray Income Trust (MUT)
Murray Income Trust (MUT) invests mainly in UK equities and aims to provide a high and growing income, combined with capital growth. Its quality bias has resulted in underperformance during the recent rotation away from the quality and growth stocks favoured by manager, Charles Luke. However, the trust's long-term track record of outperformance of the market and its peers confirms that Luke's approach pays off over time. Over the ten years to end March 2022, MUT has generated an average annualised return of 8.1% on an NAV basis and 7.7% in share price terms, compared to a market return of 7.2%. The trust's FY22 dividend is expected to be at least 34.75p, putting it on track to deliver its 49th consecutive year of dividend growth. This represents a prospective yield of 4.1%.
Investors seeking a regular, predictable and rising income may be attracted by MUT's 48-year run of annual dividend growth, delivered via quarterly dividend payments. Such investors may be further reassured by the trust's relatively resilient dividend receipts and its capacity to use its reserves, if necessary, to maintain its dividend growth record. MUT also offers a track record of long-term outperformance and a well-diversified portfolio of high-quality, growth-oriented stocks, including vibrant mid-caps. These attributes may appeal to those wanting broad exposure to the UK market, at a very competitive fee.
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