Edison reviews Martin Currie Global Portfolio Trst

RNS Number : 3974Z

Martin Currie Global Portfolio Tst

14 December 2017

 

London, UK, 14 December 2017

Edison reviews Martin Currie Global Portfolio Trust (MNP)

Martin Currie Global Portfolio Trust (MNP) has been managed by Tom Walker since January 2000, aiming to generate long-term capital growth. He adopts a consistent, bottom-up investment process to construct a relatively concentrated portfolio of c 50 high-quality, primarily large-cap global equities, diversified by sector and geography. The manager stresses that MNP has lower volatility of returns compared to the average of its peers in the AIC Global sector. The trust adopted a zero discount policy in 2013 and has a progressive dividend policy; its current dividend yield is 1.7%, comparing favourably to its peer group average.

MNP's board actively manages the discount, aiming to ensure that the shares trade close to NAV. The current 1.0% discount to cum-income NAV compares to a range of a 1.5% premium to a 2.5% discount over the last 12 months, and the average discounts of the last one, three and five years of 0.6%, 0.5% and 0.9% respectively. The trust has a progressive dividend policy; annual dividends have increased or been maintained every year since the trust launched in March 1999.

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