REG - Utilico Emerging Mkt - Publication of monthly factsheet

Utilico Emerging Markets TrustAnnouncement

Tue 14:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260512:nRSL0243Ea&default-theme=true

RNS Number : 0243E  Utilico Emerging Markets Trust PLC  12 May 2026

12 May 2026

UTILICO EMERGING MARKETS TRUST PLC

(LEI Number: 2138005TJMCWR2394O39)

 

Publication of monthly factsheet

 

The latest monthly factsheet for Utilico Emerging Markets Trust plc ("UEM" or
the "Company") will shortly be available through the Company's website at:

https://www.uemtrust.co.uk/investor-relations/factsheet-archive
(https://www.uemtrust.co.uk/investor-relations/factsheet-archive)

 

Monthly commentary

 

PERFORMANCE

UEM's NAV total return increased by 2.5% in April whilst the MSCI Emerging
Markets total return GBP Index was up by 11.3% in April almost gaining back
its March losses. UEM's portfolio is and will remain largely positioned in
relatively defensive names with inflation protection and modest gearing
therefore performance this month has been overshadowed by the strong rebound
in AI euphoria driving the Korean and Taiwan markets. UEM's performance
however has been significantly less volatile than the MSCI EM Index in recent
months.

 

The US-Israeli strikes on Iran ("Operation Epic Fury") and retaliatory actions
by Iran, largely paused from 8 April 2026 when a tentative ceasefire came into
place. Progress on a possible peace agreement, leading to an early end to the
conflict has been erratic. The Strait of Hormuz however remained largely
closed with Iran continuing to threaten shipping and the US imposing its own
blockade on Iran linked shipments.

 

Oil prices remained elevated, albeit ending the month slightly lower than they
had been at the end of March. Supply concerns for oil derivatives including
jet fuel and diesel remain, with many Asian countries imposing measures to
conserve supplies. The timetable for a return for normalised shipping
operations in the region remains a big unknown as are the full implications of
an extended closure, which could particularly impact Asian and European
economies.

 

Most central banks held interest rates in the period on inflationary concerns.
Strong Q1 corporate earnings especially in the US technology sector, drove
markets upwards in the second half of the month, with the NASDAQ composite
rising 15.3% in the month and the S&P 500 Index gaining 10.4%.

 

There was a strong bounce back in semiconductor stocks, which helped drive
Korea's KOSPI Index up by 30.6% and Taiwan's TWSE Index up by 22.7% in April.
Vietnam's Ho Chi Minh Index also bounced back from March's drop, gaining 10.7%
in the month. India's Nifty 50 Index moved up, rising by 7.5% in April and
Turkey's BIST Index gained 12.9%. China's markets were also positive with the
Hang Seng Index up by 4.0% and the Shanghai Composite Index up by 5.7%.

 

Not all markets recovered, with the PSEi Index in the Philippines lower again,
down by 1.9% in April and Indonesia's market also continued to weaken with the
JCI Index down 1.3%. In Latin America, Brazil's Ibovespa Index was down by
0.1%, Mexico's Bolsa Index declined by 1.1%, Colombia's COLCAP Index declined
by 4.7% and Argentina's MERVAL Index declined by 5.5% in April.

 

Sterling strengthened against most currencies during the month, gaining 3.0%
against the US Dollar, 1.2% against the Euro and 4.3% against the Philippine
Peso. The Brazilian Real was especially strong, gaining 1.7% against Sterling
and 4.6% against the US Dollar in April.

 

PORTFOLIO

There was little change to the constituents of UEM's top thirty during the
month, with just one movement, Adani Ports & Special Economic Zone, an
Indian ports and logistics company replaced Umeme on relative valuation.

 

There were ten stocks which increased by more than 5% and two which declined
by more than 5% in April.

 

Orizon's share price continued to be strong, with a 14.1% gain during the
month as it moves closer to completion of its recent Vital acquisition. Axia
Energia, was another Brazilian outperformer with its share price up by 6.7% on
the back of strong results driven by higher electricity prices. Colombian
stocks were weaker with Celsia falling back by 5.5% after March's buyback
related gains.

 

In India, Adani Ports advanced by 27.7% due to expectations of encouraging
results at the end of the month, as well as improved market confidence and
NHPC gained 13.6% after the award of a large hydro-electric project.

 

Elsewhere in Asia, data centre operators SUNeVision and GDS Holdings saw its
share price bounce back, up 13.0% and 5.1% respectively in the month. Anhui
Expressway recorded a 5.5% gain after solid results and Manila Water,
considered a safe haven in a weak Philippines market, was up by 5.1%.

 

In Europe, CTP was the best performer, gaining 11.5% in April after strong
results and outlook amid hopes of a swift end to the Iran war. Enerjisa Enerji
gained 7.2% whilst the share price of Telelink Business Services was 6.1%
weaker, giving up some gains recorded earlier in the year.

 

Portfolio purchases for the month totalled £1.4m and total realisations
amounted to £8.7m.

 

DEBT

UEM's total debt exposure in Sterling terms went down from £21.8m to £16.4m,
as £5.0m was repaid during the month. The existing USD 13.5m and EUR 7.5m
loans remain drawn and the Sterling equivalent liability declined by £0.4m
due to FX movements.

 

OTHER

UEM's share price ended the month at 289.00p, up 6.6%, with the discount to
NAV narrowing from 13.6% to 10.2% as at 30 April 2026.

 

UEM bought back 1.4m shares at an average price of 291.14p in the month,
equivalent to 0.8% of the shares in issue as at 31 March 2026.

 

 

Name of contact and telephone number for enquiries:

ICM Investment Management
Limited
+44(0)1372 271486

Charles Jillings, Jacqueline Broers, Alastair Moreton

 

Montfort Communications

Gay Collins, Alex
Everett
+44 (0) 7798 626282

utilico@montfort.london

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DOCAKBBQBBKDCPD



            Copyright 2019 Regulatory News Service, all rights reserved