MURRAY INTERNATIONAL TRUST PLC Murray International Trust PLC
Half-Yearly Report 30 June 2023
A high conviction global portfolio designed to deliver a strong and rising income and to grow capital
murray-intl.co.uk
Contents
Overview | |
Performance Highlights | 1 |
Financial Calendar and Highlights | 2 |
Interim Board Report - Chairman's Statement | 4 |
Interim Board Report - Manager's Review | 7 |
Interim Board Report - Directors' Disclosures | 10 |
Portfolio | |
Ten Largest Investments | 11 |
Investment Portfolio | 12 |
Summary of Investment Changes | 15 |
Financial Statements | |
Condensed Statement of Comprehensive Income (unaudited) | 16 |
Condensed Statement of Financial Position (unaudited) | 17 |
Condensed Statement of Changes in Equity (unaudited) | 18 |
Condensed Statement of Cash Flows (unaudited) | 19 |
Notes to the Financial Statements (unaudited) | 20 |
Alternative Performance Measures | 25 |
General Information | |
Investor Information | 27 |
Contact Addresses | 33 |
Performance Highlights
Net asset value total returnA | Share price total returnA | ||||||||
Six months ended 30 June 2023 | Six months ended 30 June 2023 | ||||||||
+2.2% | |||||||||
-2.5% | |||||||||
Year ended 31 December 2022 | +8.8% | Year ended 31 December 2022 | +20.6% | ||||||
Overview
Reference index total returnB
Six months ended 30 June 2023
+7.9%
Year ended 31 December 2022 | -7.3% |
Ongoing charges ratioA
As at 30 June 2023 0.52%
As at 31 December 2022 | 0.52% |
- Alternative Performance Measure (see pages 25 and 26).
- FTSE All World TR Index.
(Discount)/premium to net asset valueA
As at 30 June 2023 -1.5%
As at 31 December 2022 | +3.1% |
Net gearingA
As at 30 June 2023 8.3%
As at 31 December 2022 | 11.2% |
Portfolio
General Information Financial Statements
Net Asset Value per Share | Market Price per Share | |||
At 31 December - pence (* at 30 June) | At 31 December - pence (* at 30 June) | |||
267 | ||||
258.6 | 257.9 | |||
252 | 254 | ||||||
248 | |||||||
238 | 231 | ||||||
227.6 | 226 | ||||||
19 | 20 | 21 | 22 | 23* | 19 | 20 | 21 | 22 | 23* |
* Values for 2019 to 2022 have been restated to reflect the sub-division of each existing Ordinary share of 25p into five Ordinary shares of 5p each on 24 April 2023.
Murray International Trust PLC | 1 |
Financial Calendar and Highlights
Payment dates of quarterly dividends
16 August 2023
17 November 2023
16 February 2024
17 May 2024
Financial year end | 31 December |
Expected announcement of results for year ending 31 December 2023
March 2024
Annual General Meeting (London) | 19 April 2024 |
Financial Highlights
30 June 2023 | 31 December 2022 | % change | |
Total assets less current liabilities (before deducting prior charges) | £1,754.7m | £1,816.6m | -3.4 |
Net assets | £1,614.8m | £1,616.8m | -0.1 |
Share price per Ordinary share (mid market)A | 254.0p | 266.8p | -4.8B |
Net Asset Value per Ordinary shareA | 257.9p | 258.7p | -0.3B |
(Discount)/premium to Net Asset Value per Ordinary shareC | -1.5% | 3.1% | |
Net gearingC | 8.3% | 11.2% | |
Ongoing charges ratioC | 0.52% | 0.52% |
- Comparative figures for the year ended 31 December 2022 have been restated to reflect the sub-division of each existing Ordinary share of 25p into five Ordinary shares of 5p each on 24 April 2023.
- The movement relates to capital only and does not take account of the reinvestment of dividends.
- Considered to be an Alternative Performance Measure. Further details can be found on pages 25 and 26.
2 | Murray International Trust PLC |
"Bruce Stout has now advised us of his intention to retire at the end of June 2024. I am delighted to announce that Martin Connaghan and Samantha Fitzpatrick will take on co-managerial responsibility for the Company's investments alongside Bruce with immediate effect, thereby ensuring the smoothest of handovers and no change in abrdn's approach to the investment management of the Company going forward"
(see 'Manager Succession', Chairman's Statement page 4)
David Hardie, Chairman
Murray International Trust PLC | 3 |
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Disclaimer
Murray International Trust plc published this content on 15 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2023 10:09:03 UTC.
