Murray Income Trust Regulatory News (MUT)

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.

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