October's 10 most-bought trusts

After a sluggish couple of years for the Murray International investment trust, performance has been stellar in 2016, with the trust's net asset value up a whopping 47%.

But despite enjoying a purple patch, posting gains well in excess of the average global equity income trust return of 20%, the trust can be picked up at a discount of 5%, which is wider than its one-year average discount figure of 2%.

This opportunity has not escaped the eye of some of the investors who use Interactive Investor, as for the first time since January the trust has re-entered the top 10 most-bought trusts table.

Murray International, a Money Observer Rated Fund, has a meaty weighting to emerging markets, accounting for around 40% of the portfolio at present. It has an impressive long-term track record for growing both capital and income.

Instinctively contrarian

Manager Bruce Stout is instinctively contrarian and has been cutting down the trust's UK weighting over the past couple of years. The dividend yield stands at 4.1%.

Elsewhere, there is little change in the top 10, with the top seven unchanged from September. Scottish Mortgage once again holds onto top spot, a position it has held since May 2015.

Woodford Patient Capital trust remains in second place, followed by Finsbury Growth & Income and Witan.

Nick Train, manager of Finsbury Growth & Income, recently penned a piece for us highlighting why he thinks businesses that are becoming increasingly technologically savvy will reward investors handsomely in the years to come.

Income favourite City of London, which boasts 50 years of consecutive dividend rises, is in fifth place, followed by the specialist Biotech Growth trust.

Completing the top 10 are Fundsmith Emerging Equities Trust (moving up one position to eighth, despite relatively unremarkable mid-sector performance over the month) and Foreign & Colonial (moving down one position to ninth), while Murray International re-enters in 10th spot.

This article was originally published by our sister magazine Money Observer here

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.