Murray International Trust’s (MYI’s) managers are transitioning smoothly from a team of three to two, ahead of Bruce Stout’s retirement at the end of June 2024. The two remaining managers, Martin Connaghan and Samantha Fitzpatrick, have worked closely with Stout since 2001, so MYI’s shareholders can have confidence that it will be ‘business as usual’ in H224 and beyond. Regardless of the market environment, the managers strive to fulfil their objectives of generating income and capital growth higher than the rate of UK inflation and to have a covered dividend. However, in years of lower income, the board can draw on the trust’s revenue reserves, which are equivalent to more than the annual dividend payment, to enable MYI’s progressive dividend policy to continue.
