RNS Number : 3759T
Utilico Emerging Markets Trust PLC
24 March 2021


London, UK, 25 March 2021


Edison issues review on Utilico Emerging Markets Trust (UEM)

Utilico Emerging Markets Trust (UEM) is managed by Charles Jillings at specialist investment firm ICM Group. He reports that 'operationally, portfolio companies are delivering results above expectations, helped by lower cost bases and higher margins'. However, the manager suggests there is hidden value in UEM's portfolio as company valuations are lagging the improvement in their fundamentals. Jillings is encouraged that the trust is continuing to pay regular quarterly dividends, which remained fully covered in H121 (ending 30 September 2020), 'reflecting the strength of the businesses in UEM's portfolio'.


UEM's current 13.8% discount to cum-income NAV is not dissimilar to the average discounts of 14.1%, 12.7% and 12.1% over the past one, three and five years. The trust has a progressive dividend policy, annual dividends have grown or been maintained every year since the fund was launched in July 2005. UEM currently offers a 3.9% dividend yield.  

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