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Share Name Share Symbol Market Type Share ISIN Share Description
Murray International Trust LSE:MYI London Ordinary Share GB0006111909 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00p -0.93% 1,068.00p 1,070.00p 1,074.00p 1,078.00p 1,060.00p 1,062.00p 132,648 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 79.5 73.8 51.8 20.6 1,362.91

Murray International Share Discussion Threads

Showing 26 to 48 of 50 messages
Chat Pages: 2  1
DateSubjectAuthorDiscuss
06/9/2018
07:56
Surprised this is still above £11.
essentialinvestor
25/6/2018
15:25
App, we're on the same page, I was just referencing the recent erosion of NAV premium re performance. Speed, sobering indeed.
essentialinvestor
22/6/2018
12:29
I wasn't trying to say they are bad managers - on the contrary I remain a believer and was trying to point out that we shouldn't get too excited about short term moves after all this is an investment trust for Investors not for Day Traders!
apparition1
22/6/2018
10:17
I note that the share price is now trading at a small discount to NAV which is the first time in a while.
speedsgh
22/6/2018
10:10
And this was his comment in the latest factsheet (30/4/18)... "Disappointing first quarter economic growth in the United States and the UK provided a stark reminder that the prolonged business cycle of the past nine years is becoming increasingly fragile. With affordability of credit threatened by potentially higher interest rates, the ominous sound of deflating consumer confidence reverberated around those consumption based economies struggling to maintain momentum."
speedsgh
22/6/2018
10:09
Absolutely, EI. This was Bruce Stout's comment in the 2017 Annual Report released recently... "Economic predictions are notorious for being wrong. Different schools of thought offer mutually exclusive theories about how the world works. Hardly surprising then that the next five years could be predicted to be anything from glorious to catastrophic. For those disciples of such speculative supposition, the allure of attaching theoretical substantiation is self-evident. Specific theory dictates specific actions. Within the minds of increasingly discredited Central Bankers, theoretical justification has been the constant companion of perfunctory policy and imprudent practice for the past decade. The implicit danger of continuing such a fallacy has never been so acute. The reality is inescapable. No comparisons from economic history or chapters in economic text books exist that might remotely clarify, demonstrate nor describe the consequences of "normalising" interest rates in a chronically, debt dependent world. Withdrawing monetary stimulus, shrinking sovereign balance sheets, maintaining confidence and re-establishing positive real savings rates whilst simultaneously trying to avoid recession and control inevitable credit quality problems is essentially what is proposed. The likelihood of achieving such an exceptionally tough balancing act is virtually zero. In the real world, the monumental debt overhang means the more the cost of money rises, be it by balance sheet contraction or by interest rate hikes, the more likely credit dependent growth evaporates. Against this backdrop, great scepticism is warranted. Investment focus will continue to emphasise strong company balance sheets and realistic profit expectations, predominately in companies operationally exposed to countries around the world with sustainable, domestic, growth dynamics."
speedsgh
22/6/2018
09:24
App, you may be overlooking erosion of premium to NAV, some were buying MYI at a near 6% premium, which was ridiculous imv, particularly if you noted Bruce's market commentary and outlook. He could not have outlined his market view more clearly.
essentialinvestor
21/6/2018
17:02
The MSCI World index has dropped 4.9% since its peak in January so that portion of the drop can be put down to a general market decline. The remaining 8.3% of the 13.1% is poor stock picking over the short term. But if we get a more serious worldwide drop which the markets seem to be pushing towards at the moment maybe their stock picks will look better in the longer term
apparition1
21/6/2018
16:05
Why does the share price keep dropping. Since Jan/Feb this year. What's driving it?
alphacentaurus
26/3/2018
14:49
Annual Financial Report (9/3) - HTTPS://www.investegate.co.uk/murray-intnl-trust--myi-/rns/annual-financial-report/201803090700041942H/ ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2017 Net asset value total return 2017: +14.7% (2016: +40.3%) Benchmark total return 2017: +12.8% (2016: +25.8%) Dividends per share {A} 2017: 50.0p (2016: 47.5p) Revenue return per share 2017: 51.8p (2016: 51.2p) Share price total return 2017: +11.0% (2016: +50.5%) Premium to net asset value 2017: +1.3% (2016: +4.6%) Net gearing {B} 2017: 10.7% (2016: 12.5%) Ongoing charges ratio {B} 2017: 0.64% (2016: 0.68%) {A} Dividends declared for the year in which they were earned. {B} Net gearing/(cash) is calculated by dividing total assets less cash or cash equivalents by shareholders' funds expressed as a percentage. Dividends and Dividend Policy Three interim dividends of 11.0p per share (2016: three interims of 10.5p) have been declared during the year. Your Board is now recommending a final dividend of 17.0p (2016: 16.0p) which, subject to the approval of shareholders at the Annual General Meeting, will be paid on 18 May 2018 to shareholders on the register on 6 April 2018. If approved, the total Ordinary dividends for the year will amount to 50.0p, an increase of 5.3% from last year (2016: 47.5p). After accounting for the payment of the final dividend, the surplus revenue of approximately £2.3 million will be transferred to the Company's brought forward revenue reserves. As I have alluded to in previous years, the Company's revenue is substantially derived from overseas companies, which pay dividends in local currencies that are then translated into Sterling upon receipt. The Company's revenue streams are, therefore, highly susceptible to the strength or weakness of Sterling. The Board and the Manager have previously investigated the merits of hedging expected annual revenues arising from the portfolio and found that introducing hedging strategies would add complexity and, for certain currencies, be very expensive to implement. Therefore, we have concluded that hedging would be unattractive to deploy. The inevitable consequence of this is that the annual revenue from the portfolio, when translated into Sterling, will experience volatility caused by Sterling's movements against the currencies of the underlying assets of the Company. The Board intends to maintain a progressive dividend policy given the Company's investment objective. This means that, in some years, revenue will be added to reserves, while in others revenue may be taken from reserves to supplement earned revenue for that year, to pay the annual dividend. Shareholders should not be surprised or concerned by either outcome as, over time, the Company will aim to pay out what the underlying portfolio earns. Management of Premium and Discount At the Annual General Meeting held in April 2017, shareholders renewed the annual authorities to issue up to 10% of the Company's issued share capital for cash at a premium and to buy back up to 14.99% of the issued share capital at a discount. During the year, no Ordinary shares were purchased for Treasury or cancellation; however, we sold 301,642 shares from Treasury at a premium to NAV. The Board will be seeking approval from shareholders to renew both authorities in 2018. As in previous years, both new shares and shares from Treasury will only be issued at a premium to NAV and shares will only be bought back at a discount to NAV. Resolutions to this effect will be proposed at the Annual General Meeting and the Directors strongly encourage shareholders to support these proposals. During the year, the Ordinary shares have traded at an average premium to the NAV (excluding income) of 3.4%. The Board continues to believe that it is appropriate to seek to address temporary imbalances of supply and demand for the Company's shares which might otherwise result in a recurring material discount or premium. Subject to existing shareholder permissions (given at the last AGM) and prevailing market conditions over time, the Board intends to continue to buy back shares and issue new shares (or sell shares from Treasury) if shares trade at a persistent significant discount to NAV (excluding income) or premium to NAV (including income). The Board believes that this process is in all shareholders' interests as it seeks to reduce volatility in the premium or discount to underlying NAV whilst also making a small positive contribution to the NAV. At the practicable date, the NAV (including income) per share was 1178.4p and the share price was 1226.0p equating to a premium of 4.0% per Ordinary share. Gearing At the year end, total borrowings amounted to £185 million, representing net gearing (calculated by dividing the total assets less cash by shareholders' funds) of 10.7% (2016: 12.5%) all of which is drawn in Sterling. On 31 May 2017, the Company agreed a new £60 million loan facility with The Royal Bank of Scotland plc ("RBS") which was drawn in full and fixed for five years at an all-in rate of 1.714%. The new facility has been used to repay a maturing £60 million loan with RBS. The Company also has a loan totalling £60 million that is due to mature in May 2018. The Directors are in the process of reviewing options for the replacement of this facility.
speedsgh
14/6/2017
10:38
wish I had bought MYI 2 days ago and not TEM ! Not sure why this trust has done so well and a NOR situation
arja
12/6/2017
18:43
Also holding. Guessing it is the safe haven reputation of Stout, anywhere but FTSE 100/250 following the election, sterling, yield. What's not to like...apart from the premium again.
steve3sandal
12/6/2017
13:01
Whats driving this today? (holder)
scottishfield
16/12/2016
10:59
These have moved back to a small premium. Great performance in 2016.
lizafl
13/4/2016
07:07
Really pleased I did not sell my MYI instead picked up a few more where can you get this sort of return today, it has been an excellent investment for me and I am sure will be for many years to come.
wskill
15/3/2016
14:52
Thanks Linhur.
bluetooth
14/3/2016
12:55
Bluetooth Proposals to convert B shares to ordinary shares announced today. B share scheme closed in July. Linhur
linhur
10/2/2016
17:21
Anybody know the difference between these and the "B" shares (NYIB)? I'm thinking of buying in and the "B" shares have a bigger discount. Thanks
bluetooth
15/1/2016
12:24
Top up time approaching... ? Don't know, have lost a bit of faith in Bruce. Perhaps he was just riding on the rising tide. The going gets tough and he is well and truly exposed. Hope not I want to have faith and the yield is so appealing
8w
20/8/2015
11:21
Started a new thread (August 2015) to get charts (ouch) and news (RNS).
pherrom
19/8/2015
09:47
Bruce has called the last 5 years wrong. Yes, he has a contrarian reputation but he has gambled and he has lost. The portfolio is effectively unbalanced ... big time. Yes a point of great value is approaching but only for new investors. Tough luck for LT holders and more so for recent purchasers who must be nursing big losses and severely disillusioned. Those who thought MYI was a means of preserving capital and enjoying yield/growth have now learned a lesson (myself included) about free lunches. Still there is always the yield ... unless the dividend isn't cut that is.
godel
18/8/2015
11:34
If 900p is the 50% Fib then we are probably going to head sub 800p poss 750p. Which would equate to a yield of over 6%. Then again, one of the benefits of active management is that the manager can take "action" to stop the slide. We shall see if Bruce can push the correct buttons. The price you pay for active manager with a contrarian style. Seriously massive punts on EM stocks esp Latin America which have gone south and still have much further to go. Fine if you have the cash to buy in at that level.
godel
18/8/2015
11:18
Lowest share price in 5 years and trading at a discount hardly enhances Mr Stout's reputation!
contango1
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