London, UK, 6 July 2017
Edison issues review on Utilico Emerging Markets (UEM)
Utilico Emerging Markets (UEM) is a closed-end investment company aiming to generate long-term total returns from a portfolio of emerging market equities, primarily in the infrastructure, utility and related sectors. Since launch, UEM has been managed by Charles Jillings supported by the specialist investment team at ICM. He is bullish on the outlook for emerging market equities, evidenced by UEM's increased level of gearing; the manager suggests that there are plenty of attractively valued companies available to invest in. UEM has a progressive dividend policy; annual dividends have been increased or maintained every year since the fund was launched in July 2005; its current dividend yield is 3.1%.
UEM's current 10.5% share price discount to cum-income NAV is broadly in line with the averages of the last one, three, and five years (range of 8.3% to 10.5%). There is a discount control mechanism in place, whereby the manager is inclined, but not obliged, to repurchase shares when the discount exceeds 10%. UEM's board has a progressive dividend policy; the trust's current dividend yield is 3.1%.
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