Publication of monthly factsheet

UIL Limited

19 December 2024

 

19 December 2024

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

Publication of monthly factsheet

The latest monthly factsheet for UIL Limited ("UIL" or the "Company") will shortly be available through the Company's website at:

https://www.uil.limited/investor-relations/factsheet-archive

Monthly commentary

PERFORMANCE

UIL's net asset value ("NAV") total return increased 3.6% in November outperforming the FTSE All Share total return Index which increased by 2.5% over the month.

Global markets in November were dominated by the US election with the Republicans winning the White House and the Senate. The US market reacted positively given President Trump now has robust electoral bases to implement his policies of trade, taxes, immigration and deregulation, with the focus being primarily on improving the domestic economy. The S&P 500 Index subsequently reached an all-time high during the month, up by 5.7%, whilst the Dow Jones Industrial Average Index was up by 7.5% and the US Dollar appreciated against Sterling by 1.1%.

In Europe, markets were mixed, with the FTSE 100 Index up by 2.2% and the DAX Index up by 2.9% whilst political uncertainty in France resulted in a 1.6% decline in the CAC 40 Index and the Eurostoxx declined by 0.5%. With the prospects of a more buoyant US market, a tighter Federal policy as well as higher tariffs, the US Dollar strengthened against the Euro by 2.9%. In Australia, the ASX 200 Index advanced by 3.4%.

Emerging markets also came under pressure as many witnessed outflows from foreign investors on uncertainty over the magnitude of Trump's potential trade tariffs, especially with regards to China where Trump has threatened up to 60% tariffs on imports. The Hong Kong Hang Seng Index was subsequently down by 4.4%, now having surrendered a large part of the gains witnessed in early autumn that arose on the back of promised stimulus that has failed to materialise.

In the commodities markets, Brent Crude oil was down by 0.3% for the month, copper was down by 6.0% as persistent demand concerns and a strengthened US Dollar continue to weigh on the sector, whilst gold declined by 3.7%.

PORTFOLIO UPDATE

UIL's top ten holdings are now disclosed on a look through basis, taking into account the underlying investments of Somers Limited and Zeta Resources Limited. Alliance Nickel replaced The Market Limited within the top ten. Alliance Nickel is an Australian listed exploration and development company with nickel and cobalt interests in Western Australia.

Resimac remains the largest holding, and its share price was up by 7.0% during the month.

ORDINARY SHARES

The share price of the ordinary shares advanced by 5.6% to 112.50p in November. UIL bought back 50,000 shares during the month at an average price of 108.98p.

ZDP SHARES

The share price of the 2026 ZDP shares was up by 4.4% and the 2028 ZDP shares increased by 10.3% during the month.

Name of contact and telephone number for enquiries:

Charles Jillings

ICM Investment Management Limited                                  [phone]

 

END