MYI

Edison issues review on Murray International Trust (MYI): Business as usual ahead of manager’s retirement

Retrieved on: 
Wednesday, April 10, 2024
Livingston (basketball), Retirement, MYI, Growth, Policy, Stout, Security (finance)

Murray International Trust’s (MYI’s) managers are transitioning smoothly from a team of three to two, ahead of Bruce Stout’s retirement at the end of June 2024.

Key Points: 
  • Murray International Trust’s (MYI’s) managers are transitioning smoothly from a team of three to two, ahead of Bruce Stout’s retirement at the end of June 2024.
  • The two remaining managers, Martin Connaghan and Samantha Fitzpatrick, have worked closely with Stout since 2001, so MYI’s shareholders can have confidence that it will be ‘business as usual’ in H224 and beyond.
  • MYI is a very well-established trust, with an experienced collaborative management team, offering investors the prospects of both income and capital growth.
  • Versus its peers, MYI has a higher allocation to emerging markets due to their higher growth potential and attractive valuations.

Edison issues update on Murray International Trust (MYI): Attractive offering of income and capital growth

Retrieved on: 
Tuesday, January 30, 2024
Growth, MYI, Diageo, Livingston (basketball), COVID, Trust, Stout, Pernod Ricard, Policy

Murray International Trust’s (MYI’s) three managers, Bruce Stout, Martin Connaghan and Samantha Fitzpatrick, have worked closely together since 2001, so it will be business as usual when Stout retires at the end of June.

Key Points: 
  • Murray International Trust’s (MYI’s) three managers, Bruce Stout, Martin Connaghan and Samantha Fitzpatrick, have worked closely together since 2001, so it will be business as usual when Stout retires at the end of June.
  • Portfolio turnover is relatively low as Stout, Connaghan and Fitzpatrick invest with a long-term perspective, seeking ‘good businesses at good prices’.
  • Decision-making is a collaborative, measured process, and all three managers must agree on a transaction before it goes ahead.
  • Recent new positions include alcoholic beverage companies Diageo and Pernod Ricard, where share price weakness provided attractive entry points.

BlackRock Announces Withdrawal of Municipal Closed-End Fund Merger Proposals

Retrieved on: 
Monday, October 30, 2023
Banking, Fintech, Professional Services, Finance, MIY, NYSE, BlackRock, MPA, Human, BHV, Funding, MYI, Fund, BKN, Security (finance)

The Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) today announced the withdrawal of merger proposals that were previously approved by the Boards pursuant to which each of MIY, MPA, BHV and BKN would have been merged into MYI, with MYI continuing as the surviving Fund.

Key Points: 
  • The Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) today announced the withdrawal of merger proposals that were previously approved by the Boards pursuant to which each of MIY, MPA, BHV and BKN would have been merged into MYI, with MYI continuing as the surviving Fund.
  • Because of the increased burden and cost, the Board of Directors/Trustees of each Fund has determined that the mergers are no longer in the best interests of each Fund’s shareholders.
  • As a result, each Fund will continue to operate as a standalone fund pursuant to its current investment objectives and policies, and shareholders of each Fund will remain shareholders of their current Fund.
  • The potential benefits to common shareholders of the target Funds had the mergers been completed (based on information as of July 31, 2023 for a shareholder of 1,000 shares) include:

Murray International Trust (MYI): Business as usual at Murray International

Retrieved on: 
Saturday, September 16, 2023
Policy, Murray International Trust, Philosophy, Growth, Retirement, Trust, MYI, Investment, COVID

The board of Murray International Trust (MYI) has been planning for manager Bruce Stout’s end-June 2024 retirement for a long time.

Key Points: 
  • The board of Murray International Trust (MYI) has been planning for manager Bruce Stout’s end-June 2024 retirement for a long time.
  • He and the trust’s other two co-managers, Martin Connaghan and Samantha Fitzpatrick, have worked together for many years and they all share the same investment philosophy, so following Stout’s departure it will be business as usual.
  • MYI returned to a covered dividend in FY22 following a two-year period where the trust’s income was negatively affected by COVID.
  • In April 2023, the trust undertook a 5:1 share split to increase liquidity.

BlackRock Announces Board Approval of Municipal Closed-End Fund Mergers

Retrieved on: 
Friday, September 8, 2023
Banking, Professional Services, Finance, RISKS, BlackRock, Proxy, MYI, Trustee, BHV, Person, Sale, Reading, Mergers and acquisitions, MPA, ARE, NYSE, BKN, Security (finance), Auction, MIY

BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) have approved the mergers of each of MIY, MPA, BHV and BKN with and into MYI, with MYI continuing as the surviving Fund (collectively, the “Mergers”).

Key Points: 
  • BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) have approved the mergers of each of MIY, MPA, BHV and BKN with and into MYI, with MYI continuing as the surviving Fund (collectively, the “Mergers”).
  • The solicitation of the purchase or sale of securities or of proxies to effect the Mergers will only be made by either a definitive Proxy Statement or a definitive Proxy Statement/Prospectus.
  • This press release references a Proxy Statement and a Proxy Statement/Prospectus, to be filed by the Funds.
  • The Proxy Statement and the Proxy Statement/Prospectus have yet to be filed with the U.S. Securities and Exchange Commission (the “SEC”).