The £942 million Murray Income Trust said it has replaced Aberdeen with Artemis Fund Managers as its new investment manager following a strategic review.
“The company’s investment objective – to achieve a high and growing income combined with capital growth, primarily through investment in UK equities – and investment policy will not change as a result of this appointment,” said Murray Income Trust.
“There will also be no changes to the company’s benchmark, gearing, dividend or buyback polices.
“The company will be managed by Artemis’ market-leading UK equity income team of Andy Marsh, Nick Shenton and Adrian Frost.
“The team has delivered sustained top quartile returns for over 20 years.
“The board believes Artemis’ disciplined, long-term approach to value creation and their focus on compounding income and capital are a strong fit for Murray Income Trust’s objectives and is confident that this appointment will position the company to deliver sustainable value for shareholders in the years ahead.
“Subject to necessary approvals and finalisation of transitional arrangements, the change of investment manager is expected to take effect in Q1 2026.”
Murray Income Trust chair Peter Tait said: “The board received a large number of hugely credible proposals as part of the Strategic Review and after a comprehensive review of the company’s options, we are confident that Artemis’ proven UK equity income investment capability, track record, and marketing expertise will position Murray Income Trust strongly for the future.
“We thank Charles Luke and Aberdeen for their long-standing service and look forward to working with Artemis to deliver value for our shareholders.”
Artemis CEO Teun Johnston said: “We are delighted to have been chosen by the Board of Murray Income Trust to deploy our cash-flow focused strategy.
“Our objectives align closely with those of the Trust, and our approach is well-suited for investors seeking long-term capital and income growth.
“The investment company structure affords us the flexibility to enhance long-term returns through the prudent use of gearing and to sustain a progressive dividend even in varied market conditions.
“Aligned with the Company’s investment objective – to generate a high and growing income together with capital growth, principally from UK equities – we look forward to working in partnership with the Company to deliver a resilient and attractive core investment proposition for shareholders.”