Murray Income Trust performance slips in first half but beats benchmark

Writer, Stock Market Wire
Monday, February 11, 2019 - 07:47

Investment group Murray Income Trust said its performance had weakened in the first half, though was still better than its benchmark.

The company's net asset value per share on a total return basis for the six months through December had slipped 7.2%, outperforming an 11.0% fall on the FTSE All-Share Index.

It said it would pay three quarterly dividends of 8.0p in January, March and June, with a final dividend payable on 8 November 2019, after the AGM.

'With Brexit, trade wars, increased interest rate uncertainty, quantitative tightening and unstable governments, there continues to be no shortage of bad news,' chairman Neil Rogan said.

'The media is full of headlines warning that various outcomes or events 'could' have a materially negative effect on the UK.'

'Hard to deny and therefore easy to publish, these warnings are dominating investor sentiment.'

'But 'will' they have a negative impact on Unilever's sales of Dove and Persil in the UK and Europe; 'will' they affect Diageo's sales of whisky in America; 'will' they affect Prudential's growing insurance business in Asia?'

'These are the much more important questions that our Manager has to address. Its focus on quality 'could' be the answer.'

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