The Murray Income Trust was incorporated over 100 years ago and has a record of 51 consecutive years of dividend growth. The portfolio is broadly diversified across sectors, but has a focus on higher-quality companies. The benefit of this tilt towards quality is demonstrated by a portfolio that can grow its earnings and hence its dividends in a variety of market conditions.
The fund invests principally in the UK market, which now increasingly represents a relatively safe haven in a world turned upside down by president Donald Trump’s tariffs. Fortunately, UK exporters are benefiting from a lower tariff level than many of their international competitors. The tariff shock comes at a time when the outlook for UK-listed firms is improving.
With lower energy and food prices, pressure on consumers is easing, while the labour market remains healthy and savings elevated; the Bank of England has significant scope to reduce interest rates; UK…
