Edison review on Utilico Emerging Markets Trust
London, UK, 17 March 2022
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 strongly believes the trust's portfolio is undervalued and is encouraged by the recent earnings reports from the majority of UEM's investee companies. The trust has generated robust absolute and relative performance compared with the MSCI Emerging Markets Index over the last 12 months. Jillings continues to invest for the medium to long term in companies with attractive business models and avoids short-term 'noise' in global stock markets. UEM's dividend is more than fully covered by portfolio income and the manager says his confidence in the trust's prospects is reinforced by the board's regular repurchases of UEM's shares.
UEM's discount remains higher than the board's desired sub-10%. One may argue that the trust's solid absolute and relative performance over the last 12 months could warrant a higher valuation. UEM's shares are currently trading at a 14.5% discount to cum-income NAV, which compares with the 12.1% to 12.4% range of average discounts over the last one, three and five years.
Click here
to view the full report or
here
to sign up to receive research as it is published.
All reports published by Edison are available to download free of charge from its website
About Edison: E dison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.
Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.
Edison is authorised and regulated by the Financial Conduct Authority .
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information, please contact Edison:
Mel Jenner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com
Sarah Godfrey +44 (0)20 3077 5700 investmenttrusts@edisongroup.com
Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn www.linkedin.com/company/edison-group-/
Twitter www.twitter.com/Edison_Inv_Res
YouTube www.youtube.com/edisonitv
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 2 minutes ago Avon Technologies plc
- 37 minutes ago TBC Bank Group
- 1 hour ago Moneysupermarket.com Group
- 1 hour ago Dr. Martens
- 1 hour ago Neuberger Private Equity Partners Limited