Murray International Trust PLC (MYI), managed by Aberdeen Investment Trusts, has disclosed its indicative net gearing ratio as at the close of business on 6 November 2026. The trust reports a net gearing ratio of 8.9% when debt is valued at par and 7.7% when debt is valued at fair value. The disclosure, calculated in accordance with the Association of Investment Companies' recommendations, provides investors with a timely snapshot of the trust's leverage position relative to its underlying assets.

Key Points

  • Murray International Trust PLC (MYI), managed by Aberdeen Investment Trusts
  • Indicative net gearing ratio disclosed as at close of business on 6 November 2026
  • Net gearing ratio of 8.9% at par value and 7.7% at fair value of debt
  • Investors may watch for future gearing disclosures to track leverage trends across Aberdeen's managed investment trust range

MYI Net Gearing at 8.9% Par and 7.7% Fair Value as Aberdeen Investment Trusts Files AIC-Compliant Disclosure

Aberdeen Investment Trusts published the indicative net gearing ratio for Murray International Trust PLC, calculated as at 6 November 2026. The trust's net gearing ratio stands at 8.9% when debt is valued at par, and at 7.7% when debt is measured at fair value. The difference between the two figures reflects the methodology applied to the valuation of the trust's borrowings. Both metrics are calculated net of cash held, meaning the trust's cash position is deducted from gross debt before the ratio is determined against underlying financial assets.

How Murray International Trust Values Its Underlying Financial Assets for Gearing Purposes

The announcement states that underlying financial assets within Murray International Trust are valued on a fair value basis, using bid prices or, where more appropriate, a last trade basis. This methodology is consistent with standard investment trust practice and aligns with the Association of Investment Companies' published recommendations for gearing disclosures. The use of bid pricing rather than mid-market pricing tends to produce a more conservative valuation of the asset base, which in turn can influence the gearing ratio presented to investors and the broader market.

Association of Investment Companies Framework Governs Murray International Trust's Gearing Calculation

Murray International Trust's gearing disclosure is made in accordance with the recommendations of the Association of Investment Companies, the trade body representing the closed-ended investment company sector in the United Kingdom. Adherence to this framework ensures comparability across peer trusts managed by Aberdeen Investment Trusts and the wider investment trust universe. The trust's Legal Entity Identifier is recorded in the announcement as 549300BP77JO5Y8LM553, confirming regulatory identification. Investors monitoring the trust's risk profile may consider the net gearing level when assessing the degree of financial leverage employed by the portfolio.