REG - Murray Inc Trust PLC - Reduction in Management Fee

Murray Income TrustAnnouncement

30/08/2024 07:00

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RNS Number : 2060C  Murray Income Trust PLC  30 August 2024

MURRAY INCOME TRUST PLC

Legal Entity Identifier (LEI):  549300IRNFGVQIQHUI13

 

30 August 2024

 

Reduction in Management Fee

Murray Income Trust PLC (the "Company") announces that it has reduced and
simplified its investment management fee arrangements with abrdn Fund Managers
Limited (the "Manager").

With effect from 1 July 2024, the annual investment management fee is
calculated as 0.35% of the Company's net assets up to £1.1 billion and 0.25%
of any net assets above £1.1 billion. Formerly, the fee was 0.55% on the
first £350 million of net assets, 0.45% on net assets from £350 million to
£450 million and 0.25% on any net assets in excess of £450 million.

Peter Tait, Chair, commented:

"I am very pleased to announce that the Board of Murray Income Trust PLC has
come to an agreement with the Manager for a revised fee schedule to be applied
from the beginning of the Company's current financial year, 1 July 2024. The
headline fee rate will now be 0.35% on the first £1.1 billion of net assets
in the portfolio.  We believe that this is a competitive fee in the universe
of UK equity income funds and should prove attractive to both existing and
potential shareholders."

Enquiries:

For further information, please contact:

Stuart Reid

abrdn Holdings Limited

Secretaries

Email:  cef.cosec@abrdn.com

 

About the Company

 

Murray Income Trust PLC, established in 1923, is an investment trust aiming
for high and growing income with capital growth through investment in a
portfolio principally composed of UK equities. Managed by abrdn, a leading
global asset management company, the Company has a market cap approaching £1
billion, is listed on the London Stock Exchange and is a constituent of the
FTSE-250 Index.

 

The Company is recognised as a 'Dividend Hero' by the Association of
Investment Companies, boasting a 51-year track record of annual dividend
increases, making it an attractive choice for risk-averse income seekers. The
Manager's investment process prioritises quality characteristics, targeting
exceptional companies by thoroughly evaluating their management, finances, and
business models first-hand. This rigorous approach aims to build a portfolio
capable of delivering a high and growing income, with dividends paid
quarterly.

 

The Manager employs a '3D' investment approach - dependable, diversified, and
differentiated - to identify high-quality large-cap companies with robust
earnings potential, as well as small and mid-cap companies with strong growth
prospects. The ability to invest up to 20% of the portfolio in overseas-listed
companies provides differentiation from peers.

 

The Board of the Company and the Manager believe that investment in the UK
equity income sector offers a compelling opportunity, with investors
increasingly recognising that dividends are a key driver of long-term total
equity returns. Many areas of the UK market have seen dividends rebased and
pay-out ratios remain modest, providing a strong foundation for dividend
growth. The Manager's focus on quality companies gives investors access to
predominantly global businesses capable of delivering appealing long-term
earnings and dividend growth.

 

For more information, or to sign up for regular updates from the Company,
please visit: www.murray-income.co.uk (http://www.murray-income.co.uk) .

 

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