Jacqueline Broers, Deputy Portfolio Manager at Utilico Emerging Markets, provides an update on how the trust has performed in December 2023.

Year-to-date, UEM's total return has be increased by 15.1% and significantly outperforming the MSCI EM index, which was up 4.1% over the year.

In December global equity markets continued to be strong, expectations of the U.S. Federal Reserve will cut interest rates this year where enhanced by the Federal Open Market Committee indicating that there could be three cuts, this fuelled a more positive outlook for emerging markets.

In LATAM, Brazil, UEM's largest exposure of assets under management, the Brazilian Bovespa up 5.4% for the month. The Mexican market was 6.2%, and the Chilean market up 6.5%.

Asia followed suit with the Indian market up 7.8%, hitting an all time high for the month of December. In Vietnam, the Ho Chi Minh Index was up 3.3% and the Philippines Index was up 3.6%.

In addition, the Thai SET Index was up 2.6%.

The Hong Kong Hang Seng Index which was flat and the Chinese market was down 1.8%.

For more details, including individual company performances during December, please read UEM's factsheet here.  

Catch up with previous factsheet videos here.

Read more about companies in the portfolio such as InPost S.A., read here.