Jacqueline Broers, Deputy Portfolio Manager at Utilico Emerging Markets (UEM) provides an insight into the trust's April performance.
In April, UEM'S NAV total return decreased by 0.1% in April, underperforming the MSCI EM Index which increased by 1.4% in Sterling terms.
Global markets were mixed in April, S&P 500 Index was down 4.2% and showed that inflation is stickier than hoped.
Moving onto EM, the Turkish Index was up 9.9%, Argentina also followed suit with the Merval Index up 9.1% as investor sentiment significantly improved, amid structural reforms from the Milei government.
Hong Kong Hang Seng Index and the Shanghai Composite Index were both up 7.4% and 2.1% respectively.
India's Sensex Index was also up 1.2% as the country's general election started.
However, Vietnam's Ho Chi Minh Index was down 5.8%, higher U.S. interest rates has put pressure on the Vietnamese Dong.
Moreover, Brazil's index was down 1.7% as U.S. rate cuts resulted in repricing of the yield curve.
The were no changes in the UEM's portfolio for April.
Read the factsheet here.
Utilico Emerging Markets (UEM)