Artemis appointed manager of Murray Income Trust plc

Artemis is delighted to announce that it has been appointed to take over as the investment manager of Murray Income Trust plc.

Subject to regulatory and shareholder approval, the trust’s management will move over to Artemis late in the first quarter of 2026.

The new managers, Andy Marsh, Nick Shenton and Adrian Frost, have over 80 years’ investment experience. They jointly manage the £5.3bn Artemis UK Income Fund, an open-ended unit trust, and associated portfolios.

Artemis UK Income is top quartile over 1, 3, 5 and 10 years. Its net total return has exceeded the return of the FTSE All Share on a rolling five-year basis for 97% of monthly periods from inception in June 2000 to October 2025. The team focus on undervalued cashflows to deliver compounding income and capital returns.

Adrian Frost has been managing the fund since January 2002, with Nick Shenton joining in 2013 and Andy Marsh in 2018.

Founded in 1923, Murray Income Trust will continue to invest predominantly in UK listed companies, with an emphasis on large-cap and mid-cap businesses but the ability to hold small-caps if the managers think appropriate. Itsbenchmark, the FTSE All Share, will remain unchanged.

The investment team commented: “We are delighted to have the opportunity to manage Murray Income Trust. Our style-agnostic investment process has enabled us to consistently deliver attractive returns for over 25 years in a variety of market and economic conditions.

“Murray Income Trust’s focus on delivering returns from both income and capital growth fits very well with this process, which identifies businesses that can compound cashflow over the long term, both individually and in aggregate as a diversified portfolio.”

Teun Johnston, Chief Executive of Artemis said: “This is the second investment trust mandate Artemis has been awarded this year, which we believe is a testament to the importance of active equity investing against a backdrop of greater short-term market volatility.

“We are very proud to have been chosen by the Board of Murray Income Trust to deploy our cashflow-focused strategy, and we look forward to working in partnership to deliver a resilient and attractive core investment proposition for shareholders.”