By Matteo Anelli, Deputy editor, Trustnet, 3 July 2025:
The Murray Income trust is facing a “surprise” strategic review launched to improve long-term returns and address a persistent discount.
The board of the £931m FTSE 250-listed trust managed by Aberdeen said it would examine a range of options with the aim of boosting shareholder value, while continuing to deliver an attractive yield.
This follows a “detailed evaluation of performance”, which the board said has been “below expectations for some time”.
QuotedData’s James Carthew described the announcement as a surprise, noting that last year’s annual report contained no direct criticism of the trust’s performance.
He highlighted that the trust currently trades on a 10.3% discount, which is unusually wide for a large-cap income-focused vehicle. “That sort of level is bound to attract attention from discount-driven investors,” he said..
When it comes to performance, the trust has ranked last among its 18-strong UK Equity Income peer group over the past year, underperforming the sector-leading Temple Bar Investment Trust by more than 20 percentage points. It also sits close to the bottom of the fourth quartile over both three and five years.
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