MURRAY INTERNATIONAL TRUST PLC ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2016 1. STRATEGIC REPORT - COMPANY SUMMARY AND FINANCIAL HIGHLIGHTS Financial Highlights Net asset value total return Share price total return +40.3% +50.5% 2015 -7.8% 2015 -15.2% Benchmark total return Revenue return per share +25.8% 51.2p 2015 +2.6% 2015 45.7p Dividend per share{A} Net gearing{B} 47.5p +12.5% 2015 46.5p 2015 +17.4% {A} Dividends declared for the year in which they were earned. {B} Net gearing is calculated by dividing total assets (as defined below) less cash or cash equivalents by shareholders' funds expressed as a percentage. 2. STRATEGIC REPORT - OVERVIEW OF STRATEGY Investment...
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