Utilico Emerging Markets Trust - Offering long-term value in emerging markets

Utilico Emerging Markets Trust (UEM) is managed by Charles Jillings at ICM Group. It is a specialist fund focusing on infrastructure and utility assets in emerging markets. The manager is encouraged by the prospects for UEM’s investee companies, supported by urbanisation and significant growth in the regions’ middle classes. He also suggests that it ‘is a very interesting time in the world’, with issues such as climate change and the shift to renewable energy high up on the global agenda, which should be beneficial for UEM’s investments. While not used as a formal benchmark, as shown in the chart below, the trust’s NAV has markedly outperformed the MSCI Emerging Markets Index over the last decade.