Abrdn’s £1.8bn Murray Int’l trust trounces index

Abrdn’s £1.8 billion Murray International Trust reported that its net asset value (NAV) posted a total return of +8.8% for 2022 compared with a total return for the reference FSTE ALL World TR Index of -7.3%.

The fund also proposed a 5-for-1 share split.

The fund’s share price posted a higher total return of +20.6%, and total ordinary dividends for the year will amount to 56p, up from 55p.

“This represents the 18th year of dividend increases for the company, which remains an AIC ‘Next Generation Dividend Hero’,” said Murray International.

Murray International Trust looks to achieve above average dividend yield, with long term growth in dividends and capital ahead of inflation, by investing principally in global equities.

The fund is managed by senior investment director Bruce Stout and investment directors Martin Connaghan and Samantha Fitzpatrick.

The fund’s 10 largest holdings at December 31 were Mexico’s Aeroporto del Sureste, US firms AbbVie, Philip Morris International and Broadcom Corporation, Taiwan Semiconductor Manufacturing, TotalEnergies of France, Unilever of the UK, Singapore’s Oversea-Chinese Bank, CME Group of Chicago and Samsung Electronics of Korea.

Murray International also announced shareholders will be requested at the April 21 AGM to approve the sub-division of the ordinary shares into five new ordinary shares.

“The market price of the company’s existing ordinary shares has increased in recent years to the point where the ordinary shares regularly trade at a market price of over 1300 pence.

“In order to assist monthly savers, those who reinvest their dividends and those who are looking to invest smaller amounts such as younger investors, the directors believe that it is appropriate to propose the sub-division of each of the existing ordinary shares of 25 pence each into five new ordinary shares of 5 pence each, thereby resulting in a lower market price per ordinary share.

“The sub-division will not itself affect the overall value of any shareholder’s holding in the company.

“The directors believe the sub-division may also improve the liquidity in and marketability of the company’s ordinary shares, which will benefit all shareholders.”