TIDMUEM

Utilico Emerging Markets Trust PLC

23 September 2020

London, UK, 23 September 2020

Edison issues review on Utilico Emerging Markets Trust (UEM)

Utilico Emerging Markets Trust (UEM) is managed by Charles Jillings at ICM Group. While the company has suffered a tough period of absolute and relative performance, Jillings is very encouraged by the prospects for the fund, given attractive valuations and businesses that are 'delivering good results'. He believes he can be patient, waiting for UEM's value to be realised, and in the meantime the trust offers an attractive dividend yield. The manager suggests that over time there is potential for UEM's discount to narrow if sentiment towards emerging markets improves, which could be helped by a weaker US dollar. For these reasons, along with the potential for an uptick in performance, Jillings believes that it is an opportune time to consider an investment in an emerging markets fund.

UEM's current 14.5% share price discount to cum-income NAV compares with a range of 7.0% to 22.5% over the past year. It is wider than the average discounts of 12.8%, 12.6%, 11.8% and 9.7% over the past one, three, five and 10 years, respectively. There is scope for a higher valuation if the manager can build on the trust's long-term record of outperformance, or if there is increased investor demand for emerging market equities.

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For more information please contact Edison:

Mel Jenner, +44 (0)20 3077 5700

Sarah Godfrey, +44 (0)20 3077 5700

investmenttrusts@edisongroup.com

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September 23, 2020 10:22 ET (14:22 GMT)

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