Utilico Emerging Markets Trust PLC Edison issues review on Utilico Emerging Markets..
17 September 2018 - 10:13PM
RNS Non-Regulatory
TIDMUEM
Utilico Emerging Markets Trust PLC
17 September 2018
London, UK, 17 September 2018
Edison issues review on Utilico Emerging Markets Trust (UEM)
Utilico Emerging Markets Trust (UEM) is a specialist fund
focusing on infrastructure and utility investment in emerging
market equities. In April 2018, UEM completed its re-domicile from
a Bermuda-based investment company to a UK-based investment trust,
in order to benefit from the UK's increasingly supportive
regulatory and tax environment. There is no change to UEM's
investment approach or dividend policy. Also, following the final
exercise of its subscription shares, UEM now has a simpler capital
structure. The board believes that these changes have potential to
improve investor perception and, over time, lead to a narrower
discount.
UEM's current 11.7% share price discount to cum-income NAV
compares with the 9.1% to 12.6% range of averages over the past
one, three, five and 10 years. The trust's simplified structure may
support a narrowing of the discount as investor sentiment towards
emerging market improves or the trust's performance improves
relative to the wider emerging markets universe. UEM's board adopts
a progressive dividend policy and has raised the annual
distribution every year since the fund was launched in 2005; the
trust's current yield is 3.6%.
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