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UEM Utilico Emerging Markets Trust Plc

221.00
3.00 (1.38%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Utilico Emerging Markets Trust Plc LSE:UEM London Ordinary Share GB00BD45S967 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.00 1.38% 221.00 220.00 222.00 222.00 219.00 220.00 317,689 16:35:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 15.94M 5.77M 0.0292 75.34 435.1M
Utilico Emerging Markets Trust Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker UEM. The last closing price for Utilico Emerging Markets was 218p. Over the last year, Utilico Emerging Markets shares have traded in a share price range of 204.00p to 237.00p.

Utilico Emerging Markets currently has 197,770,678 shares in issue. The market capitalisation of Utilico Emerging Markets is £435.10 million. Utilico Emerging Markets has a price to earnings ratio (PE ratio) of 75.34.

Utilico Emerging Markets Share Discussion Threads

Showing 151 to 163 of 625 messages
Chat Pages: Latest  13  12  11  10  9  8  7  6  5  4  3  2  Older
DateSubjectAuthorDiscuss
15/1/2009
13:06
Thanks Aleman it amazes me sometimes how long I've been in the markets and how much there is still to learn.
praipus
14/1/2009
13:14
All shares go ex-dividend on Wednesdays to be on the register Fridays.
aleman
14/1/2009
10:39
badtime where are you getting your info?
praipus
13/1/2009
19:48
exdiv tomoz.need to hav bought today imho
badtime
13/1/2009
17:59
Utilico Emerging Markets (UEM) offering a 4p div for those in the stock before Friday 16-1-2009 and paid 30-1-2009. share price offer 97p, NAV £1.07.
praipus
07/12/2008
20:41
Infrastructe back on the Private Equity buy list
praipus
04/12/2008
13:54
Interims out,



4p divi subject to approval.

praipus
17/11/2008
15:05
Jim Rogers video on US $, Obama, emerging markets and real assets, very interesting
praipus
31/10/2008
13:09
Bank Debt and Hedging Update

RNS Number : 1264H
Utilico Emerging Markets Limited
31 October 2008

31 October 2008

Utilico Emerging Markets Limited

Bank debt and hedging update

Utilico Emerging Markets ("UEM") has this month released significant capital from both its
market hedge position and the portfolio and
facilitated a reduction in its bank debt.

The sharp falls in the market resulted in the matched option spreads being deep in the
money and reflected for the most part intrinsic
value. As such they were no longer acting as a hedge, but rather a residue of value. These
positions have now been realised. The proceeds
together with realisations from the portfolio have been used to reduce the bank debt from
£82.8m at the end of September to £42.9m.

Following the realisation of the matched option positions the option hedge for UEM now
comprises only a naked position of 1,175 S&P 500
Index put option contracts expiring in January 2009 with strike prices from 850 to 870. Should
markets weaken further, these contracts would
be expected to result in gains for UEM. The managers will continue to keep this position under
review.

At the same time the debt position has been restructured. Some £16.6m is drawn in UK
Sterling and $41.1m is drawn in USD Dollars. UEM
has bought GBP Put/USD Calls covering $30.0m at a spot price of 1.50 and $11.0m at a spot
price of 1.60, both maturing in January 2009. As
a result of these changes the bank utilisation and debt maturities are:


Facility Utilised Currency Drawn Maturity
£16.6m GBP 25 June 2011
£26.3m USD 25 June 2013
£42.9m

Gross assets at 28 October 2008 were £242.0m (1) (adjusted for the debt reduction).

Note 1. These values are based on the price and exchange rates as of Tuesday 28 October
2008.

Enquiries:
Charles Jillings
+44 (0)1372 271 486

Arbuthnot Securities,
Alastair Moreton,
+44 (0) 20 7012 2000

This information is provided by RNS
The company news service from the London Stock Exchange

END

praipus
22/10/2008
14:38
In Times of 'Zombie Banks,' Buy Commodities: Jim Rogers



"If history is any guide, things to buy are things that are doing fine right now like water treatment companies in Asia or agriculture, Rogers added."

praipus
17/6/2008
08:25
Thanks for your good wishes, Praipus. I am still in ECWO, UEM and I drip feed into my 6 unit trusts (one of which is First State Global Infrastructure), but very little else. If any spare cash comes along I shall buy more ECWO and just wait.
clusium
17/6/2008
07:14
Bought yesterday. Fingers crossed now for a steady rise..
bobp
16/6/2008
16:34
Thanks Clusium, trust all is well with you.

Merryn Somerset Webb: Try putting your trust in infrastructure
By Merryn Somerset Webb

Published: June 13 2008 18:22 | Last updated: June 13 2008 18:22

How often do you buy investment trusts these days? Probably not as often as you did a few years ago. It used to be that those of us who objected to paying the absurd fees charged by most unit trusts (up to 5 per cent up front followed by a good 1.5 per cent a year in management fees) and who wanted easy access to diversified portfolios always bought investment trusts. We looked at them and we saw all sorts of advantages.

The management fees were more like 1 per cent than 1.5 per cent and, while we paid a spread when we bought and sold the shares in our chosen trusts, it rarely came in anywhere near the entry fees of the unit trusts. At the same time, it was good to know that investment trusts, as listed vehicles, mostly had good governance standards and that if we wanted to sell them we could do so any time the market was open – it could take days to get your money when you sell a unit trust.

I've also always been biased towards investment trusts on the basis that, unless they issue more shares, they can only get their fee income up by performing well (and therefore increasing the size of their fund organically). Unit trusts, on the other hand, get their fee income up by spending vast amounts on marketing to persuade punters to buy new units in their funds, hence expanding their total funds under management. This just doesn't seem to come with the right incentives.

Finally, investment trusts come with the ability to gear up their holdings, something which has always added a little frisson to holding them – most of us don't often get to borrow money to buy shares.

So, why might we be less interested in these wonderful sounding things than we were? Simple: exchange traded funds (ETFs). Few people had heard of ETFs only five years ago, but now, if you want to sort out your asset allocation easily and cheaply, these listed trackers have to be your first port of call.

They're cheap – much cheaper than your average investment trust – and they couldn't be easier to understand. There's no gearing and there's also none of the discount/premium business that can be so irritating with investment trusts. As the latter are just listed companies, the business of which is to invest in other companies, their shares rarely trade at their actual net asset value. They're either above it (which suggests the market expects their net asset value to rise) or below it (which suggests the opposite). This can be nice for arbitrageurs and can give you a good uplift if you buy at the right time, but much of the time it's just a distraction.

ETFs are also available in some form or another to track almost everything from the Brazilian stock market to the price of lean hogs. My own Isa and Sipp are now stuffed with them. But just because something new (and good) has arrived, we shouldn't be too quick to dismiss the investment trust sector. All the good things remain.

They are still the best place for ordinary investors to get gearing outside hedge fund land and if it is active rather then passive management you want, I can't see any reason to hold a unit trust over an investment trust.

There are also specific areas where it might just make more sense to hold them over ETFs. Hedge funds are the obvious example – the successful listed BH Macro fund has just made it into the FTSE 250.

But another might area might be infrastructure. This is the investment story of the decade. The usual number quoted for the expected spending on various infrastructure projects over the next 10 years is $22,000bn (to put that in perspective note that the subprime fiasco will only end up costing the banks a couple of trillion).

Much of this money will go to attempting to patch up the dismal infrastructure of the US (where electricity blackouts are increasingly common and the water system leaks as much as it delivers) and to sorting out similar problems in Europe and South America, where 10 per cent of the population still don't have electricity.

But well over half of it is forecast to be spent in Asia, where if economic growth is to be sustained, new airports, roads, rail networks, electricity grids and sanitation systems are going to have to be built in a hurry. According to Citi, China will spend $500bn on road and rail projects in the next 30 years, and it is already spending over 10 per cent of its GDP on infrastructure.

You can get access to all this growth on a very diversified basis via ETFs such as the iShares S&P Global Infrastructure ETF, which holds shares in companies operating everything from marine ports to utilities and highways. But better might be the HSBC Infrastructure investment trust, which holds the underlying assets and also pays a 5 per cent dividend. Otherwise, there are some interesting Aim-listed investment companies in the sector (these aren't strictly speaking investment trusts but the result is the same).

I like the look of Utilico Emerging Markets. It is 36 per cent invested in Brazil but also has another 50 per cent or so of its assets invested in Asia (nearly 20 per cent in China) and currently trades on a mild discount to its NAV.

Finally, if you are thinking emerging markets infrastructure you can't forget Africa. Sub-Saharan Africa is forecast by the IMF to grow around 6.5 per cent this year (faster in the oil-producing countries, slower in the others) but for this to continue, the infrastructure is in urgent need of an upgrade (or in many cases just a build).

To tap into this, you can buy into Aim-listed PME African Infrastructure Opportunities. This is small; it only listed last year; it hasn't made many investments yet; and it is trading at a premium to its net asset value, but it is, I think, the only fund giving easy access to African infrastructure. No ETFs there.


Merryn Somerset Webb is editor of Money Week and previously worked as a stockbroker. The views expressed are personal. merryn@ft.com
Copyright The Financial Times Limited 2008

praipus
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