LONDON (Alliance News) - Murray International Trust PLC Monday said it net asset value total return in the first half of the year outperformed its benchmark.
The investment trust said its NAV total return rose 4.5% over the six months to June 30, compared with its benchmark - 40% FTSE World UK and 60% FTSE World ex UK - which rose 2.8%.
Murray International said its share price rose 3.8% over the six month period, reflecting a small reduction in the premium to net asset value on which the shares traded.
"Absolute and relative performance was attributed to a mix of asset allocation and individual stock contributions. By far the largest contributing factors to relative benchmark outperformance on an asset allocation basis were underweight exposures to the UK and Japan," the trust said.
The trust said it portfolio continues to focus on emerging markets, Asia and broad global diversification.
Shares in the investment trust were up 0.7% at 1,063.08 pence Monday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Murray International (MYI)