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Martin Currie GblPrt (MNP)

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Friday 11 June, 2021

Martin Currie GblPrt

Edison issues review on Martin Currie Global

RNS Number : 5089B
Martin Currie Global Portfolio Tst
11 June 2021
 

 

London, UK, 11 June 2021

 

Edison issues review on Martin Currie Global Portfolio Trust (MNP)

Martin Currie Global Portfolio Trust's (MNP's) manager Zehrid Osmani aims to deliver above-market returns over a rolling five-year period. He is confident in the prospects for the trust's high-quality growth portfolio and will continue with his disciplined investment process despite value stocks leading the market during the early stages of an economic recovery. The manager believes that this approach will generate a superior outcome for shareholders over the long term. His view is that following the coronavirus pandemic, high-quality, sustainable growth companies will become even more relevant to investors. MNP affords exposure to a concentrated portfolio of listed companies that have strong environmental, social and governance (ESG) credentials and the fund's charges are competitive. The introduction of gearing in November 2020 provides an additional lever that Osmani can utilise to potentially improve performance.

 

The trust's board employs a zero-discount policy aiming to ensure that, in normal market conditions, MNP's shares trade close to NAV. Its current 1.4% premium compares with the range of an average 0.4% premium to a 1.7% discount over the last one, three, five and 10 years. Due to the trust's significant distributable reserves, the board was able to maintain MNP's dividend at 4.20p per share in FY21 despite a 22% decline in revenue due to the negative effects of COVID-19. The trust currently offers a 1.1% yield.


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