FOUR INVESTMENT TRUSTS TO BUY NOW
Murray International (MYI) £10.58 BUY
Current premium to NAV: 2.4%
12-month average premium to NAV: 3.1%
Managed by Bruce Stout since 2004, this trust has a global remit. Investment decisions are supported by 10 global equity specialists and for the most part Stout adopts a buy-and-hold approach with modest churn in the portfolio.
Adopting a cautious and disciplined strategy, and investing in both stocks and bonds, this is a relatively concentrated fund with the top 20 holdings accounting for around half the portfolio.
Stout is fairly negative on developed economies and prefers the growth on offer in emerging markets.
Reflecting the wider weakness of this investment theme, 2018 has been a bit rough but he has outperformed the trust’s composite benchmark in all but three years since he took over as lead manager 14 years ago. Investors are being rewarded for their patience during this sticky spell by a generous looking dividend yield of 4.7%.
Top holdings include microchip manufacturer Taiwan Semiconductor Manufacturing and Mexican airports operator Groupo Asur.