Edison review on Utilico Emerging Markets Trust

RNS Number : 3721W

Utilico Emerging Markets Trust PLC

18 August 2022

 

London, UK, 18 August 2022

Edison issues review on Utilico Emerging Markets Trust (UEM)

Utilico Emerging Markets Trust (UEM) is managed by Charles Jillings at value-focused investment firm ICM Group. He says that the trust's high- conviction, differentiated portfolio offers exposure to attractive long-term investment opportunities. More than 95% of the fund is invested in operational assets, and greater than 90% is held in listed securities. UEM's portfolio companies have long-term assets and most of them have established regulatory frameworks. The manager stresses the importance of site visits and meeting with local employees to gain a deeper understanding of investee companies and the quality of their management teams. UEM's dividend is more than fully covered by portfolio income and the trust offers an attractive 3.7% yield.

Given UEM's portfolio of high-quality assets and long-term record of outperformance, one could argue that the trust warrants a higher valuation. Its 14.1% discount is towards the wider end of the 9.0% to 15.1% range of discounts over the last 12 months. Over the last one, three and five years, UEM's average discounts are in a range of 12.4% to 12.6%. 

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