Marketing materials for fund managers typically point out that past performance is no guarantee of future returns — but at times like these, with investors seeking stability almost above all else, anyone considering whether to buy into an investment trust is going to study the track record of those running it (Greig Cameron writes). In which case, Murray International Trust — battle-hardened, as it says itself — may have much to commend it.
The trust can trace its roots back to 1907, when it was founded as the Scottish Western Investment Company. A celebration of its 110th anniversary pointed out that it has been through two world wars and several finance crises.
Today it has a portfolio of global equities and some fixed-income investments, with
