Murray International

[monabri]

"Murray International Trust PLC said Thursday it has lowered its management fees, starting from January 1."

https://www.londonstockexchange.com/exc ... 48600.html

[BrummieDave]

Based on the performance this calendar year, it's the least they could do!

[ADrunkenMarcus]

The dividend is up.

It's gone through a bad spell recently, though!

Best wishes

Mark.

[Dod101]

I suspect what they mean is that its manager, Aberdeen, has agreed to lower its management fees. Like most (all?) trusts with exposure to Emerging Markets they have not had a very good time this year.

Dod

[Arborbridge]

I suspect what they mean is that its manager, Aberdeen, has agreed to lower its management fees. Like most (all?) trusts with exposure to Emerging Markets they have not had a very good time this year.

Dod

Which is a) not a good time to sell and

b) a good time to buy.

I find it difficult to believe that the future isn't good for this IT and the parts of the world it invests in. True, there'll be dodgy times ahead with Trump an'all, but that will surely pass, as such problems have in the past.

Arb.

PS amendment: on checking I notice this IT has moved sharply from a discount to a premium, and the price has stormed back. Still well below the peak, but if you wanted a bargain, you might just have missed it

[monabri]

Looking at the info in Simply Wall Street, MYI are currently loss making with an uncovered divi. Can anyone else confirm if this is true - I dont believe single sources of info.

[Dod101]

monabri

You can answer your question simply by looking at the half year report on the website as I have just done. I always go to the source and it is easy nowadays. It is true that they paid an interim dividend of around £35 million v revenue for the half year of £32 million. So what? That is why ITs have Revenue Reserves. These days of course ITs can also use realised capital gains to pay a dividend so the concept of an 'uncovered' dividend does not apply to ITs in the same way that it does to trading companies.

Not sure what anyone means by loss making.

Dod

[kempiejon]

Looking at the info in Simply Wall Street, MYI are currently loss making with an uncovered divi. Can anyone else confirm if this is true - I dont believe single sources of info.

I like the AIC for ITs thought I guess you could go direct but on this page https://www.theaic.co.uk/companydata/301 you can find links on the right to download the Annual Report 31 December 2017 and on pg12 for 2017 the dividend was covered 1.04 times; revenue of 51.8p and div of 50p.
Prompted by this thread I checked and see my MYI and MUT values have both perked up recently to back above my average buy price and still ticking along with income.

[Avantegarde]

Back to Murray International. I sold my holding entirely at the end of September. The share price slumped further but has since rebounded strongly, rising by 11% since early December to £11.74p per share (back where it was in August). It is now standing at a premium of nearly 5% to NAV! Is there a reason for this sudden revival in popularity?

[monabri]

Back to Murray International. I sold my holding entirely at the end of September. The share price slumped further but has since rebounded strongly, rising by 11% since early December to £11.74p per share (back where it was in August). It is now standing at a premium of nearly 5% to NAV! Is there a reason for this sudden revival in popularity?

As a guess, MYI are attracting money that might have been directed to the likes of CTY...investors looking for diversification away from UK companies but requiring a reasonable yield.