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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Utilico Emerging Markets Trust Plc | UEM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.00 | -0.44% | 224.00 | 13:49:04 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 224.00 | 224.00 | 227.00 | 225.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 16/9/2022 17:43 by vacendak A bit old but only picked up recently from LinkedIn:UTILICO EMERGING MARKETS TRUST PLC - Investor Presentation |
Posted at 25/4/2022 11:24 by vacendak ICM is first in the list of investors:The site is a bit slow and has at least one major 404 on "Customers & Partners". Since I cannot find a share ticker, I must conclude they are not listed yet. ICM had backed a big winner with AfterPay (through UIL Ltd) a couple of years ago. This could potentially be a strong one too. |
Posted at 21/6/2021 15:16 by speedsgh Annual Financial Report - Highlights of results · Dividends per share totalled 7.775p for the year, an increase of 2.6%. Dividends were fully covered by earnings · Revenue earnings per share ("EPS") of 8.13p, an increase of 3.2% from the prior year · Total revenue income of £22.8m, a decrease of 5.1% from the prior year · Net asset value ("NAV") total return per share of 30.2%* (2020: -24.9%*) · NAV per share of 228.54p* per share, up 25.7% · Gross assets of £556.1m, an increase of 20.5% John Rennocks, Chairman of UEM said: "We are pleased to announce UEM turned in a strong performance and importantly delivered a NAV total return of 30.2% for the year to 31 March 2021, outperforming the MSCI Emerging Markets Utilities Index which was only up by 17.2% during the twelve months. It is also pleasing to report UEM's revenue earnings per share increased by 3.2%, given the challenges faced by investee businesses and their need to preserve cash flow, especially in the first six months to 30 September 2020. UEM has now declared four quarterly dividends totalling 7.775p per share, a 2.6% increase over the previous year and the fourth quarterly dividend of 2.00p represents an uplift of 3.9% on the prior quarterly dividend. Dividend income recovered strongly in the second half of the year and dividends remain fully covered by income. The Board remains confident this quarterly rate will be maintained for the next financial year. "Responsible investing has long been a core component to UEM's investment process and continues to be a focus for UEM. UEM's Investment Managers continue to strengthen their ESG approach to investing and ICM has recently become a signatory to the United Nations Principles for Responsible Investment. "Despite the impact of COVID-19 on UEM's portfolio, it is worth noting that no UEM investee company has needed or is expected to require significant restructuring or refinancing. The strategic nature and business model strength of UEM's portfolio has been excellent, with most of the businesses having proved resilient. Coupled with strong government and central bank support the Board does not today see a significant risk from COVID-19 outside of market volatility in valuations." Charles Jillings, Investment Manager of UEM added: "COVID-19 has caused unprecedented challenges for investors. ICM is strongly of the view that due to COVID-19, the shift to working from home and eCommerce has accelerated the digitalisation of governments, businesses and individuals, and this shift will offer new investment opportunities. "UEM's gross assets (less liabilities excluding loans) increased sharply to £556.1m as at 31 March 2021 from £461.4m as at 31 March 2020. There have been eight new entries into the top twenty holdings of the portfolio over the year, as well as small sector shifts. On a geographic basis, South Korea has increased through investment and performance rising from 1.7% to 6.5% and Brazil saw the biggest reduction from 29.1% to 18.0%. "UEM's portfolio consists of a diverse range of companies that are often under-represented in the MSCI. The strength of our sector and country knowledge built up over decades has given us an ability to continue to identify these investments, in spite of COVID-19 and global lockdowns. Despite unprecedented challenges due to COVID-19, UEM's investment objective to provide positive long-term absolute returns has not changed, and we remain optimistic to uncover compelling investments that offer excellent returns." |
Posted at 25/3/2021 23:08 by speedsgh Changes to Investment Management Fee Arrangements - The Board of Utilico Emerging Markets Trust plc ("UEM" or the "Company") announces that, following a review, the Company has agreed with ICM Investment Management Limited and ICM Limited (together the "Joint Portfolio Managers") that, with effect from the start of UEM's new financial year on 1 April 2021, the performance fee will be discontinued and the investment management fee payable to the Joint Portfolio Managers will be amended from 0.65% per annum of the Company's net asset value ("NAV") to a tiered structure as follows: 1.0% of NAV up to and including £500m; · 0.9% of NAV exceeding £500m up to and including £750m; · 0.85% of NAV exceeding £750m up to and including £1,000m; and · 0.75% of NAV exceeding £1,000m The Board believes that the removal of the performance fee will result in a simpler and more transparent cost structure which will contribute to a stable ongoing charge. Furthermore, the tiered investment management fee has the benefit of reducing rates at increasing NAV levels, allowing shareholders to benefit from the increasing economies of scale that a larger portfolio provides. The existing fee arrangements (including any performance fee payable) will continue until the end of UEM's current financial year ending on 31 March 2021. The Board is confident that the new structure will maintain a competitive ongoing charge and thereby help in attracting private wealth managers and retail investors. The changes to the investment management fee arrangements constitute a smaller related party transaction under the Listing Rules issued by the Financial Conduct Authority. The Company has obtained written confirmation from its Sponsor that the terms of such changes are fair and reasonable as far as the Company's shareholders are concerned. |
Posted at 02/12/2020 15:27 by vacendak Yep, they have made it clear that the dividend is sacro-saint.There is an interview somewhere with Charles Jillings talking about the history of the trust and how they pitched it to institutional investors prior to the launch. The institutions were after emerging market with income. Nice little recovery for the past few weeks. The NAV is now back safely above 200p. |
Posted at 25/11/2020 09:56 by davebowler Stifel comments-Utilico Emerging Markets – Interims to 30/09/20 – underperforms as growth remains in vogue Performance: Despite difficult markets the fund’s NAV recovered +10.3% and reports a NAV total return of +12.3%. This return lagged the MSCI Emerging Markets total return index which was up +24.2%, as investors globally have driven digital investments higher, while generally ignoring infrastructure and utility investments, and the Brazilian Real weakening by 11.7% which in itself reduced UEM's GBP NAV by an estimated -3.5%. Despite UEM's portfolio being largely value-based utilities and infrastructure assets, UEM has outperformed the MSCI Emerging Markets Utilities total return index which was up +1.5%. Earnings: Revenue income decreased to £14.7m, an 18.7% decline and EPS decreased 12.5% to 5.59p (2019: 6.39p). The board expects to maintain the third and fourth quarter dividends at 1.925p which would result in dividends for the full year to 31 March 2021 of 7.70p – an uplift of +1.7% over the year to 31 March 2020 (2020: 7.575p). Dividends remain fully covered by income at the half-year and if needed the board will use its revenue reserves or substantial capital reserves to maintain the dividend payments. As at 30 September 2020, UEM has revenue reserves of £9.8m, some 4.38p per share. Outlook: The chairman says, “It is pleasing to see most of UEM's portfolio companies performing well in the circumstances. It is worth re-emphasising that UEM's performance continues to be driven by bottom-up stock selection. The portfolio is predominantly invested in relatively liquid, cash-generative companies with long-duration assets that the Investment Managers believe are structurally undervalued and offer excellent total returns. Since inception over 15 years ago, UEM's track record of performance has been reassuring and the Board has every confidence that the Investment Managers will continue to identify investments offering attractive, long-term returns for UEM.” ( |
Posted at 12/2/2019 16:37 by jonwig FT:Investors reversed recent tactics and jostled each other to back a rise in emerging market securities as sentiment improved markedly following a grim performance for the asset class last year. The most crowded trade this month was “long” emerging markets, a Bank of America Merrill Lynch survey of 218 investors who manage a total of $625bn found. It was the first time since the poll began that “long EM” held this designation. The shift marked a “major reversal” from short EM as the number three crowded trade last month, the investment bank said. More: |
Posted at 04/2/2019 12:09 by davebowler Emerging markets is where to put your money in 2019, says Morgan Stanley:Stocks in emerging markets have had a rough year but are tipped for a turnaround, according to Morgan Stanley, which predicts stable growth in those economies in 2019. The investment bank has upgraded emerging market stocks from “underweight&# “We think the bear market is mostly complete for EM (emerging markets),” the bank said in its Global Strategy Outlook report for 2019, adding: “We are taking larger relative positions and adding to EM.” Many investors withdrew from emerging markets throughout 2018 and bought more assets in the US due to a spike in bond yields. That will change, says Morgan Stanley, explaining that emerging markets will outperform developed markets. Within the emerging markets space, Morgan Stanley’s key “overweight Growth across EM has been forecast to slow slightly from 4.8 percent to 4.7 percent in 2019, before inching back up to 4.8 percent in 2020. US growth will moderate from the 2.9 percent estimates to 2.3 percent in 2019 and 1.9 percent in 2020, Morgan Stanley said. “A major challenge for US assets next year is that they’re ‘boxed in’ – better-than-expected growth will simply mean more Fed tightening, while weaker-than-expected growth will raise slowdown risks, with limited scope for policy support,” its strategists wrote. “In a major change from the last 10 years, both good news and bad news creates problems for US markets.” |
Posted at 13/4/2018 05:24 by jonwig @ Keyno - do you mean the four big trades reported at 5:15pm?First, they are almost certainly delayed reporting. Second, I would guess they were merely transfers, such as husband-wife or an agreed transaction between two parties arranged through a broker. So I doubt anyone is selling loads of stock, and change of domicile will affect the company's tax position rather than investors'. Don't worry about it! |
Posted at 06/4/2018 06:21 by jonwig It's connected to the change of domicile from Bermuda to the UK. Under UK law, you can't pay a dividend without distributable reserves, so they did this convoluted process to create them.As far as investors are concerned, I think the whole thing can safely be ignored. I think UEM will pay less tax so we will benefit. |
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