Murray Income Share Discussion Threads

[brwo349] 20/1/2025 12:01

NAV 950p

FTSE is at record highs but this one definitely is not. The discount to NAV is as high as its been the last 10 years which is as far back as HL charts go.

[misterd1] 31/12/2024 16:22

That's an excellent performance I'd say, HFEL not withstanding

HNY to you and other posters

[goldpiguk] 31/12/2024 15:24

Hi and Happy New Year.

My Investment Trust ISA is now in its 10th year. The aim is to construct a portfolio of about twelve Investment Trusts in total, and then add to those positions. (Buy, Build and Hold Indefinitely.)

The case for holding IT's in ISA's is compelling and I was relieved the new Government left ISA's well alone in the recent budget. The primary goal of the portfolio is to build a growing passive income stream, through a well diversified portfolio of trusts, only investing in areas I understand. Overall, this tortoise approach is working well and although off recent highs the ISA value is £399,060 producing an income of £18,423 this calendar year.

Current portfolio (31/12/24):
10,000 AAIF (Abrdn Asian Income)
20,000 DIG (Dunedin Inc. Growth)
15,000 EDIN (Edinburgh Investment Trust)
5,000 HFEL (Henderson Far East)
6,000 JCH (J.P. Morgan Claverhouse Investment Trust)
30,000 LWI (Lowland Investment Company)
10,000 MRCH (Merchants Trust)
3,295 MUT (Murray Income Trust)
15,000 MYI (Murray International Trust) (5 for 1 subdivision of shares during 2023)
Cash < 1%

This calendar year my additions have been 1,600 J.P. Morgan Claverhouse (current holding - 6,000 shares) and the purchase of 3,295 shares in Murray Income Trust.

COMMENTS
HFEL
I thought the new manager would cut the dividend here, but I was wrong. The total return since I bought this is lacklustre. It is the weakest link in the portfolio.

MUT
Murray Income Trust was my new addition this year. An AIC dividend hero, this century old trust remains on a high discount to NAV. When market conditions improve, (eventually) I think the discount will narrow.

Historical ISA valuation on Dec 31st with dividend income for the calendar year.

(£) ISA valuation: (£) Income
2015: 113,980......... 4,450
2016: 156,795..........7,293
2017: 186,636..........9,619
2018: 193,414.........10,124
2019: 242,159.........12,557
2020: 221,475.........10,560
2021: 285,587.........12,002
2022: 315,241.........13,377
2023: 352,496.........15,718
2024: 399,060.........18,423

2025 should see another good uplift in dividend income, which I expect to exceed £20,000. For the second year I have received dividends every month and income benefitted from making the total £20,000 subscription at the start of the tax year.


Wishing all on the IT boards at ADVFN a very happy and prosperous 2025.

Goldpig

[2wild] 17/12/2024 21:42

Paid 511p today, on about 12% discount to NAV. Hopefully we'll get a Santa Claus rally.

[brwo349] 30/10/2024 08:24

added at 825p

[brwo349] 11/10/2024 14:57

11.5% discount now. It doesn't get higher than this historically.

[essentialinvestor] 04/10/2024 14:55

I looked at IPU as it happens but % spread is saucy atm, it sometimes closes.

[brwo349] 04/10/2024 14:51

Agree and I bought into today. Complements my IPU and CHIB positions.

[essentialinvestor] 04/10/2024 13:15

Looks value to me atm on this % discount and the recent reduction in management fee.

Obvs correlated to wider equity markets,
so good value on an...all things being equal basis.

[edward3] 03/11/2022 20:16

Well I am in and looking forward to the dividends..

[2wild] 28/12/2021 11:45

NAV up 12.4% during 2021 from 871.03p to 979.13p

At 915p discount to nav is 6.5%

[2wild] 09/12/2021 13:34

NAV up 12.2% in 2021 from 871.03p to 977.5p.

Paid 901.51p today, 7.77% discount to nav.

[spoole5] 18/6/2021 15:08

Decent discount here now

[cashflow101] 18/11/2020 11:48

Nice rise this am,expect this is mostly due to MUT getting back into FTSE 350,after swallowing up PLI. And to think I was thinking of adding more at about 760p DOH

[sharesoc] 20/11/2019 21:56

There is a detailed report on Murray Income Trust (MUT) recent AGM which can be found in our members area here:

To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here:

Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here:

[peterbill] 28/1/2019 09:07

Sector allocation (%)Financials 25.8Consumer Goods 16.0Industrials 11.9Healthcare 10.4Consumer Services 9.4Basic Materials 7.8Oil & Gas 6.6Technology 4.1Telecommunications 3.6Utilities 2.2Cash 2.2Total 100.0



Hopefully this will recover after Brexit ...

[peterbill] 28/1/2019 08:44

Price: 746.00NAV: 782.69Net Dividend Yield: 4.46Premium/-Discount: -4.69Twenty largest equity holdings (%)Unilever 4.1AstraZeneca 3.7BHP 3.5Diageo 3.5BP 3.3Royal Dutch Shell 'B' 3.3Prudential 3.0Roche 2.8RELX 2.7HSBC 2.6Rio Tinto 2.6Hiscox 2.4Close Brothers 2.2GlaxoSmithKline 2.2National Grid 2.2Standard Chartered 2.1Aveva 2.1Microsoft 2.0Nordea 1.8Associated British Foods 1.7Total 53.8

[nimbo1] 08/2/2016 15:37

This goes down more on down days and up less on up days = not a popular investment.

However if you look at the underlying holdings it is defensively positioned and chucks off 5%.

Could be worth having if the discount gets silly.

[drewz] 24/5/2013 17:18

On watch list.