Murray International Trust — Fulfilling the income and capital growth mandate

Murray International Trust (MYI) is managed by Martin Connaghan and Samantha Fitzpatrick at Aberdeen Group. While FY24 results lagged those of its global reference index, the managers are fulfilling their brief of generating an above-average dividend yield along with both income and capital growth from a diversified portfolio of global equities. Connaghan and Fitzpatrick also aim to preserve capital during periods of stock market volatility. MYI has no exposure to the ‘Magnificent 7’ US mega-cap technology stocks, as these companies are not a natural fit with the trust’s mandate, as they would contribute a very low or zero level of income. This has had a significant negative impact on MYI’s performance in recent years, but is now providing a tailwind as the ‘Magnificent 7’ stocks are coming under pressure in volatile global markets.