138. Why a card is a trojan horse for the untapped online gifting market

Charles Luke, manager of the Murray Income Trust, tell us the UK mid-cap space is an overlooked and under-appreciated segment of the market, which is full of companies with excellent growth potential. He also talks us through his investment in Moonpig and why cards could be a trojan horse for the untapped online gifting market. He also goes into detail about how he builds a portfolio that can do well in any economic environment and why overseas holdings are such an important part of the offering. Also covered is the benefits of the trust’s recent merger with the Perpetual Income and Growth portfolio and how ESG is now at the core of the investment process.

Murray Income Trust aims to provide a high and growing income combined with capital growth by investing in a portfolio of 30-70 UK companies. The trust is conservatively managed and targets resilient companies which can thrive in any economic scenario. To achieve its income goals, the trust focuses on high quality companies. The result is a dependable, diversified and differentiated trust, which has delivered consistently strong performance at a time when it has been challenging for UK equities. The trust has grown its dividend for investors for almost 50 years.

Read more about Murray Income Trust

What’s covered in this podcast

  • How the trust looks to perform in any economic environment [0:16]
  • The advantages of tapping into the overlooked UK mid-cap market [1:35]
  • Why the trust invests in Moonpig – and how the selling of personalised greeting cards is a trojan horse for the untapped online gifting market [2:53]
  • The benefits of investing in overseas businesses [4:25]
  • Why the value rally is not a concern and how his long-term focus remains on companies with sustainable competitive advantages and good quality management teams [5:49]
  • The benefits of the merger with the Perpetual Income and Growth portfolio and plans to grow the portfolio and lower costs in the future [7:18]
  • The trust’s three-pronged approach to ESG [8:26]
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