UTILICO EMERGING MARKETS TRUST PLC

Regulatory Filings • Aug 20, 2021

National Storage Mechanism | Additional information

RNS Number : 3492J

Utilico Emerging Markets Trust PLC

20 August 2021

London, UK, 20 August 2021

Edison issues review on Utilico Emerging Markets Trust (UEM)

Utilico Emerging Markets Trust (UEM) is facing a continuation vote at the September 2021 AGM; since inception, the fund has generated NAV total returns of c 10.0% pa and has outperformed the MSCI Emerging Markets Index over the last decade. It is managed by Charles Jillings at specialist investment firm ICM Group. The manager is very encouraged by the robust operating performance of the majority of UEM's investee companies, helped by higher revenues and strict cost control, which has been supportive for their share prices this year. UEM has an above-market dividend yield and the growing annual distribution is fully covered by portfolio income.

UEM's shares are currently trading at a 13.9% discount to cum-income NAV, which compares with the 12.2% to 13.2% range of average discounts over the last one, three and five years. There is scope for a higher valuation if UEM's performance continues to improve compared with the broader market or if there is increased investor appetite for emerging market equities.

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