Murray International (MYI) was launched in 1907 and has followed a global equity income mandate since the mid-1980s. It is comfortably the largest trust in the Aberdeen stable with net assets of around £2.2bn. Bruce Stout managed MYI from 2004 to 2024 before handing over the reins to Martin Connaghan and Samantha Fitzpatrick, who had both worked alongside him for 25 years. Its annualised total return over the 22 years to the end of 2025 was just under 11% on a NAV basis, around one percentage point better than the various benchmarks that the trust has used, with individual yearly returns often...