Murray Income Trust to allow non-UK companies after a 90% majority vote

Trust is to diversify away from concentrated UK sectors after 90% of investors voted to allocate non-UK companies

Investors in the Aberdeen-run £382m Murray Income trust have voted to allow investment in non-UK companies for the first time. Nearly 90% of votes cast were in favour of the proposition, which allows up to 20% of the portfolio to be in stocks not listed in the UK. The board and managers say the change will allow the trust to diversify away from concentrated UK sectors. The investment team plans to use the new allocation to gain exposure principally to European companies and in the short-term expects 5%-10% of the portfolio to shift into non-UK assets. “There are a number of sect...