Murray International's Stout criticises central banks for 'discredited stupidity'

Trust reports full year results

Bruce Stout, manager of the Murray International trust, has attacked central banks and financial commentators for their part in creating a "backdrop of unfamiliar extended valuations and deeply concerning fundamentals".

The veteran manager's comments come as the £1.5bn trust reports its annual results to 31 December; over the 12 months it has achieved a total return of 40%, outperforming the 26% return from its benchmark (40% FTSE World UK index and 60% FTSE World ex UK), despite widespread volatility. Stout (pictured), who has been running the trust since 2004, said in a world where there is "disrespect of real capital value… there are no places to hide". Despite this backdrop of uncertainty, Murray International which follows a flexible approach allowing it to invest across a range of opportunity s...