In May, UEM's NAV total return decreased by 0.3% in May.

In May, UEM's NAV total return decreased by 0.3% in May, but outperformed the MSCI EM index which decreased by 1.2% in Sterling terms.

Global markets were mixed in May, inflation more stubborn than expected, in addition, Central Banks, rates would remain higher for longer.

Most emerging markets were down. The Indian Sensex Index was down 0.3%, The Mexican Bolda IPC down 2.7%.

India's GDP grew by 7.8%, ahead of expectations. Brazil's Bovespa Index was down 3%, In China the Shanghai Composite Index was down 0.6%.

Meanwhile, the Vietnamese Ho Chi Minh Index was up 4.3% as local buyers returned.

UEM's share price remained the same in May, discount to NAV narrowing to 17.2%.

Moreover, a fourth quarterly dividend of 2.15p was declared.

For me details, read the UEM factsheet here.