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LONDON - Utilico Emerging Markets Trust PLC (UEM), an investment company focusing on infrastructure, utility, and related sectors in emerging markets, reported a slight increase in its Net Asset Value (NAV) total return for February, outpacing the benchmark index. UEM’s NAV total return grew by 0.8%, compared to a 0.6% decline in the MSCI Emerging Markets Total (EPA:TTEF) Return Index, measured in Sterling terms.
The performance of UEM in February was influenced by global market sentiment affected by political and economic events. Notably, the inauguration of Donald Trump as President of the United States and the release of a new artificial intelligence product by China’s DeepSeek impacted investor behavior. Technology stocks, particularly in China, saw significant gains, with giants like Tencent (HK:0700) and Alibaba (NYSE:BABA) experiencing substantial share price increases.
UEM’s portfolio underwent changes with Egyptian Satellites and Athens International Airport joining the top thirty holdings, replacing Citic Telecom (BCBA:TECO2m) International and Santos Brasil. The portfolio’s performance was mixed, with notable gains in companies such as Sunevision and Serena Energia, while others like TAV and FPT saw declines.
The trust reduced its debt by £7.2 million in February, repaying a USD 15.0 million loan and drawing down GBP 5.0 million. UEM’s share price increased by 4.7% during the month, and the discount to NAV narrowed from 19.8% to 16.8%. The company also continued its share buyback program, purchasing 59,518 shares at an average price of 212.34p.
UEM declared a third quarterly interim dividend of 2.325p per ordinary share for the year ending 31 March 2025, payable on 28 March 2025 to shareholders registered on 7 March 2025.
This financial update is based on a press release statement from Utilico Emerging Markets Trust PLC.
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