Factsheet: Utilico Emerging Markets Ord

Emerging Markets

Rated Fund 2014-2018. Provides exposure to emerging market infrastructure

Utilico Emerging Markets won Money Observer's Best Emerging Markets Trust award in 2013 and was highly commended from 2014 to 2016. The trust underperformed peers during 2017, but has retained its Rated Fund status because it offers a lower-risk way to gain exposure to infrastructure and pays a progressive dividend.Although its main aim is to produce a good total return, one of its attractions is that it pays a quarterly income and has a yield of 3 per cent. It invests predominantly in listed companies involved in infrastructure, utility and related sectors operating in emerging markets. This gives it considerable defensive qualities.Charles Jillings leads the management team. Their investment universe is companies and sectors displaying the characteristics of essential services or monopolies, such as utilities, transportation infrastructure, communications or companies with a unique product or market position. In selecting stocks, they aim to identify companies where underlying value and growth prospects are not reflected in the share price.The trust focuses on both underdeveloped and developing markets of Asia, Latin America, emerging Europe and Africa. However, it has the flexibility to invest in markets worldwide, providing the managers believe that the country has attributes such as political stability, economic development, an acceptable legal framework and an encouraging attitude to foreign investment.At the end of 2017, its largest sector allocations were electricity and gas, which collectively accounted for more than 40 per cent of assets.

Narrative and ratings content all as of 01 January 2018.

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Name
Utilico Emerging Markets Ord
Manager
ICM Ltd.
Type
Closed Ended Investment Company
ISIN
GB00BD45S967
Sector
Global Emerging Markets
Launched
20/07/2005
OCF
0.93 %
Risk Rating
1
3 Year Sharpe
0.53
3 Year Alpha
-0.34
Yield
3.6 %
Benchmark
MSCI EM GR USD
Fund Size
£ 497.51 million
NAV
241
Gearing
100
Discount Premium
-11
The Company’s investment policy is flexible and its investments include (but are not limited to) water, sewerage, waste, electricity, gas, telecommunications, ports, airports, service companies, rail, roads, any business with essential service or monopolistic characteristics and any new infrastructure or utilities which may arise mainly in emerging markets. The Company may also invest in businesses which supply services to, or otherwise support, the infrastructure, utility and related sectors. The Company focuses on the under-developed and developing markets of Asia, Latin America, Emerging Europe and Africa but has the flexibility to invest in markets worldwide. The Company generally seeks to invest in emerging market countries where the Directors believe that there are attributes such as political stability, economic development, an acceptable legal framework and an encouraging attitude to foreign investment.
Holding %
International Container Terminal Services Inc 7.19 %
Malaysia Airports Holdings Bhd 7.17 %
MY E.G.Services Berhad 7.08 %
China Gas Holdings Ltd 6.11 %
Ocean Wilsons Holdings Ltd 5.49 %
Eastern Water Resources Development And Management PLC Shs Foreign Register 5.36 %
APT Satellite Holdings Ltd 4.68 %
China Everbright International Ltd 3.75 %
Asia Satellite Telecommunications Holdings Ltd. 3.72 %
Gasco SA 3.36 %
Region %
Asia - Emerging 66.42 %
Latin America 16.09 %
United Kingdom 6.88 %
Europe - Emerging 5.26 %
Sector %
Industrials 41.14 %
Utilities 33.08 %
Communication Services 11.47 %
Technology 9.18 %
Name
ICM Ltd.
Address
HM 11, Hamilton, Bermuda
Legal Structure
Closed Ended Investment Company

Managers

Charles Jillings
Joined 06/01/2011
Charles Jillings
Joined 06/01/2011

Data provided by Morningstar.

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