THE £1.4 billion Murray International Trust trailed its benchmark index last year, partly because it was underweight in US equities, its latest results have shown.
Murray International, which is run by Aberdeen Asset Management, said yesterday that it had made a total return on net asset value of three per cent in the year to December 31. Its benchmark, a composite index comprising 40 per cent of the FTSE World UK Index and 60 per cent of the FTSE World ex-UK Index, made a total return of 7.5 per cent last year.
Chairman Kevin Carter said: "The benchmark total return of 7.5 per cent was positively affected by the performance of United States equities in which the trust is underweight. The trust's greater geographical diversification and focus on above-average yield proved a drag on relative performance."
The Murray International board is recommending a final dividend of 15p-a-share. This makes a total for the year of 45p-a-share, up by 4.7 per cent on 2013.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article