UIL Limited reports 3.6% NAV increase in November

LONDON - UIL Limited (LEI Number: 213800CTZ7TEIE7YM468) has disclosed that its net asset value (NAV) total return grew by 3.6% in November, outstripping the FTSE All Share total return Index, which saw a 2.5% rise over the same period.

The performance comes amid a month where global markets were heavily influenced by the US election results, with Republicans securing both the White House and the Senate. This political shift has been met with optimism in the US market, as President Trump's policy agenda is expected to focus on domestic economic improvements. The S&P 500 Index reached a new peak, climbing 5.7%, while the Dow Jones Industrial Average Index increased by 7.5%. Concurrently, the US Dollar appreciated by 1.1% against Sterling.

European markets experienced a mix of outcomes, with the FTSE 100 Index up by 2.2% and Germany's DAX Index rising by 2.9%. However, political uncertainty in France led to a 1.6% drop in the CAC 40 Index, and the Eurostoxx fell by 0.5%. The US Dollar strengthened against the Euro by 2.9%, reflecting the anticipation of a more robust US market, possible tighter Federal Reserve policies, and higher tariffs.

Emerging markets faced challenges, with investor outflows driven by uncertainties over potential US trade tariffs. This was particularly evident in China, where the Hong Kong Hang Seng Index dropped by 4.4%, reversing gains from earlier in the year.

In the commodities sector, Brent Crude oil prices dipped by 0.3%, copper fell by 6.0% due to persistent demand concerns and a stronger US Dollar, and gold prices decreased by 3.7%.

UIL has updated its top ten holdings on a look-through basis, incorporating the underlying investments of Somers Limited and Zeta Resources Limited. Alliance Nickel, an Australian nickel and cobalt exploration and development company, has entered the top ten, replacing The Market Limited.

Resimac remains UIL's largest holding, with its share price increasing by 7.0% over the month. UIL's ordinary shares also saw a significant rise, advancing by 5.6% to 112.50p, and the company repurchased 50,000 shares at an average price of 108.98p. Furthermore, the share prices for the 2026 and 2028 Zero Dividend Preference (ZDP) shares increased by 4.4% and 10.3% respectively.

This information is based on a press release statement from UIL Limited.

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