Bruce Stout, manager of the Murray International trust, has attacked central banks and financial commentators for their part in creating a "backdrop of unfamiliar extended valuations and deeply concerning fundamentals".
The veteran manager's comments come as the £1.5bn trust reports its annual results to 31 December; over the 12 months it has achieved a total return of 40%, outperforming the 26% return from its benchmark (40% FTSE World UK index and 60% FTSE World ex UK), despite widespread volatility. Stout (pictured), who has been running the trust since 2004, said in a world where there is "disrespect of real capital value… there are no places to hide". Despite this backdrop of uncertainty, Murray International which follows a flexible approach allowing it to invest across a range of opportunity s...
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