The board of Murray Income Trust plc, the investment trust with net assets of £931 million that is currently managed by Aberdeen, announced it is commencing a “strategic review of the options available to the company.”

The fund said: “The board has recently undertaken a detailed review of performance, including engaging with its investment manager, Aberdeen, in order to better understand the factors behind the company’s underperformance.

“Following this, the board has concluded that it is now appropriate to undertake a wider strategic review.”

Murray Income Trust added: “The board regularly evaluates the company’s performance, which for some time has been below the board’s expectations and has contributed to the persistent discount to NAV …

“Investec Bank has been appointed by the board to assist it in a review of the company’s strategic options, including the company’s future investment management arrangements.

“The board welcomes proposals for the future of the company from its current investment manager, alongside proposals from third party investment managers and other investment companies.”

Murray Income Trust has as its investment objective “the provision of a high and growing income combined with capital growth through investment principally in UK equities.”