LONDON (Alliance News) - Utilico Emerging Markets Ltd on Wednesday said its net asset value declined in the year to the end of March, despite the fund having made back in the second half a large proportion of the losses suffered by its emerging markets-focused investments in the first.
Utilico Emerging said its net asset value per share at the end of March was 202.52 pence, down from 209.79p a year earlier. This 3.4% decline was a significant outperformance against its benchmark, the MSCI Emerging Markets Total Return Index, which fell 8.8% in the year.
The group paid out 6.40 pence per share in dividends over the course of the year, comprising four quarterly dividends of 1.625p, meaning its total payout rose 4.9% year-on-year.
The fund said it had been a weak year for emerging markets, with stock markets in China and Hong Kong hit hard, but its portfolio remained largely unchanged, as the fund kept a focus on listed companies offering long-term growth and paying dividends.
Utilico Emerging shares were up 0.1% to 177.25 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Utilico Emerging Markets (UEM)