Utilico Emerging Markets Trust reports 2.8% NAV gain in June

LONDON - Utilico Emerging Markets Trust PLC (UEM) reported a net asset value (NAV) total return of 2.8% for June, underperforming the MSCI Emerging Markets total return Index which rose 4.1% in Sterling terms during the same period.

For the first quarter of its financial year ending March 31, 2026, UEM achieved an 8.2% NAV total return, significantly outpacing the benchmark index’s 5.4% gain in Sterling terms.

The company’s share price increased by 1.2% in June, closing at 244.00p, with the discount to NAV widening from 11.0% to 11.6%. A quarterly dividend of 2.325p per ordinary share for the year ended March 31, 2025, was paid on June 27 to shareholders on the register as of June 6.

June saw significant market volatility amid heightened geopolitical tensions in the Middle East, with temporary oil price surges following military actions between Israel, Iran, and the United States. Markets rallied after a ceasefire announcement, with the S&P 500 Index ending the month up 5.0%.

Korea’s KOSPI Index surged 13.9% on post-election optimism and technology sector strength, while Turkey’s BIST Index rose 10.3%. Conversely, Argentina’s MERVAL Index fell 12.5%, Thailand’s SET Index dropped 5.2%, and Indonesia’s Jakarta JCI Index declined 3.5%.

Within UEM’s portfolio, data center investments performed strongly, with KINX up 27.4% and SUNeVision advancing 12.4%. Manila Water rose 19.0%, while Turkish airports operator TAV increased 21.6%. Eletrobras was the only top thirty holding to decline more than 5%, falling 5.4%.

The trust’s debt position remained unchanged with facilities drawn as €7.5m, $7.5m, and £5.0m, with the Sterling liability stable at £16.9m despite currency fluctuations.

UEM repurchased 1.7 million shares at an average price of 239.73p during June, bringing total buybacks since its year-end to 2.6 million shares, equivalent to 1.4% of share capital as of March 31, 2025.

This information is based on the company’s monthly factsheet, which will be available on its website.

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