Murray International Trust — Delivering what it says on the tin

Murray International Trust’s (MYI’s) co-managers, Martin Connaghan and Samantha Fitzpatrick at Aberdeen Group, are encouraged by the trust’s H125 results. During this volatile period in global markets, MYI outperformed its reference index and delivered on its objective of a higher-than-average dividend yield and real (above-inflation) growth in capital and income. While the managers invest for the long term, sharp moves in stock prices during the first half of 2025 provided several opportunities; during H125, there were three new purchases and seven complete disposals, along with a selection of top-ups and top-slicing of portfolio holdings. Connaghan and Fitzpatrick are mindful of the macroeconomic background but are fully focused on bottom-up stock selection, seeking ‘good businesses at good prices’ across the globe.