Utilico Emerging Markets Trust PLC GBP · LSE:UEM
Utilico Emerging Markets Trust PLC GBP — Utilico Emerging Markets Trust — Investor Presentation (June 2025)
27 slides from Utilico Emerging Markets Trust PLC GBP's investor presentation, June 2025
Slide 1: Investor Presentation
Investor Presentation June 2025
Slide 2: Important Notice
IMPORTANT NOTICE By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: The information in this document has been prepared by Utilico Emerging Markets Trust plc (“UEM”) solely to give an overview of UEM. Th
Slide 3: Introduction
Introduction UK listed closed ended investment trust investing in infrastructure and utilities in emerging markets Targets listed infrastructure Emerging markets focused and utilities assets Sector knowledge unrivalled Assets typically operational and cash generative Total AuM: £519.6m Market Cap: £
Slide 4: Strong NAV and Share Price Performance
Strong NAV and Share Price Performance Fund Performance1 Key Highlights NAV annual NAV per MSCI EM Out- compound return Total return share Index performance Year to date 5.9% 1.1% 4.8% 9.0% 3 years 16.3% 9.0% 7.3% 5 years 57.9% 28.8% 29.1% Inception 455.3% 308.7% 146.6% NAV total return per share 45
Slide 5: Attractive Dividend
With strong dividend growth since inception Attractive Dividend Only Global EM fund included in the AIC’s Next Generation Dividend Heroes % of UEM’s portfolio DPS CAGR Dividend yield Covered dividend. companies paying a 2007-25 above peers1 Reserves of1: dividend 7.9% 3.7% 9.36p > 80% Fund Launch 2
Slide 6: Why UEM invests in Emerging Markets
Why UEM invests in Emerging Markets Long term fundamental pillars driving sustainable and accelerating growth POSITIVE INCREASE IN DEMOGRAPHICS URBANISATION STRUCTURAL GROWTH DRIVERS STRONG GDP RISE OF THE GROWTH MIDDLE CLASS Page 4
Slide 7: UEM Direct Beneficiary of Global Infrastructure Megatrends
UEM Direct Beneficiary of Global Infrastructure Megatrends Rapid economic Need for essential social development of EM driving infrastructure demand Growth of middle-class driving Energy Decarbonisation of the energy Social need for investment Growth and matrix Infrastructure Rapid urbanisation Trans
Slide 8: Emerging Markets Continues to be Attractively Valued
Emerging Markets Continues to be Attractively Valued And….UEM’s portfolio continues to be attractively valued US v’s Rest of the World1 EM v’s DM – Relative2 P/BV and RoE 12m Consensus PE P/E and Dividend Yield Dividend Yield UEM currently trades on a 11.0% discount with a 3.7% dividend yield3 1. So
Slide 9: UEM's Resilient Portfolio
UEM’s Resilient Portfolio Despite macro volatility and geopolitical uncertainty investment in infrastructure will prevail Geopolitical Tensions Geopolitical UEM's portfolio designed to withstand macroeconomic volatility and Tensions geopolitical uncertainties – crucial for today’s needs and tomorrow
Slide 10: Differentiated Absolute Return Portfolio
Differentiated Absolute Return Portfolio Unique, actively managed, benchmark agonistic portfolio providing resilience to cyclicality UEM Portfolio MSCI Emerging Markets Index % in UEM's % in MSCI EM Sector in Sector Sector portfolio Index UEM Electricity 18.3% Financials 24.7% Water and Waste 17.1
Slide 11: Investment Approach
Investment Approach Detailed analysis generates a high conviction, benchmark agnostic portfolio UEM Portfolio Portfolio Construction - Competition for inclusion - Trade timing and allocation - Portfolio monitoring and review Investment Analysis - Fundamental analysis and financial forecasting of inv
Slide 12: Outlook for 2H25
Outlook for 2H25 Geopolitical uncertainty defining the investment landscape US – high degree of macro/policy uncertainty and unpredictability Markets driven predominately by tariff headwinds which are stalling corporate investment decisions Direction of inflation and interest rates unclear Weaker US
Slide 13: Impact of AI on Digital Infrastructure
Impact of AI on Digital Infrastructure AI has been a key US technology investment theme this decade… …but China is catching up fast 2023-24 Rise of the “Magnificent Seven” 2025: Release of Deepseek R1 American Exceptionalism China’s Tech Industry Accelerating AI Investments All product names, logos
Slide 14: Impact of AI on Digital Infrastructure
Impact of AI on Digital Infrastructure Since the launch of Deepseek R1 Chatbot in January… …UEM’s data centre investments have seen a surge in demand for capacity Data Centre Specialists 2.4% 2.1% of of portfolio portfolio Data Centre Exposure 8.1% of portfolio All product names, logos and brands us
Slide 15: Digital Infrastructure: Case Study – SUNeVision
Digital Infrastructure Case Study – SUNeVision Description Largest data centre operator in Hong Kong with 8 data centres and 2 cable landing stations Flagship Mega-i data centre is the top data interconnection point in Asia Available IT Capacity of 103MW and GFA of 2.3m sq ft as at 31 December 2024
Slide 16: Energy Growth and Transition: Case Study – India
Energy Growth and Transition Case Study – India Energy Demand / Decarbonisation India Power Demand1 . Energy demand driven by rapid economic development, growing at an even higher multiple of GDP amidst climate change and digitalisation . Requires necessary investment into energy infrastructure to s
Slide 17: Energy Growth and Transition
Energy Growth and Transition Positive move to renewables….with energy security now a focus Energy Security Energy security has become the cornerstone of many countries’ economic and environmental strategy Rising geopolitical tension has accentuated the need for energy self-reliance Energy importing
Slide 18: Energy Growth and Transition: Case Study – NHPC
Energy Growth and Transition Case Study – NHPC Description NHPC Capacity Pipeline (MW)2 State-owned hydropower player in India, engaged across the entire value chain from concept to development and operation 8,140MW of operational capacity generating over 25TWh of electricity in FY25 Listed on India
Slide 19: UEM's Unique and Compelling Investment Case
UEM’s Unique and Compelling Investment Case Actively managed infrastructure investment trust focused on EMl for enduring growth that transcends interest rate cycles, inflation trends and market volatility. Portfolio Emerging market infra megatrends Performance Long term Cash generative outperformanc
Slide 20: Appendix
Appendix ©2022 Andre S. Prietsch
Slide 21: UEM Top Twenty as at 31 May 2025
UEM Top Twenty as at 31 May 2025 Diversified portfolio Company Country Sector Megatrend % of UEM 1 Orizon Valorizacao de Residuos S.A. Water & Waste 5.5% 2 Cia de Saneamento Basico do Estado de Sao Paulo (Sabesp) Water & Waste 5.0% 3 International Container Terminal Services, Inc. (ICT) Ports 4.9% 4
Slide 22: Portfolio Construction
Portfolio Construction Risk mitigation through sector and geographical diversification Sector Diversification Sector (%) Portfolio Construction Number of Approximately 75 holdings – top 30 is 73.6% of holdings portfolio2 Primarily equity, but unrestricted and can invest in Asset type bonds, converti
Slide 23: ESG Investment Approach
ESG Investment Approach UEM has an embedded ESG into the investment framework ESG approach % of UEM’s top 30 disclosing ESG factors1 In-depth analysis of the key 63% issues that face potential and conducted a climate current holdings, as well as a 73% risk assessment 87% Understanding deep understan
Slide 24: UEM benefitting from EM Structural Growth Drivers
UEM benefitting from EM Structural Growth Drivers Fundamental pillars driving sustainable and accelerating growth in EM Positive demographics1 Increase in urbanisation2 Median age (Years) Rise of the middle class3 Strong GDP growth4 Growth 2015-2030 60.6% 25.0% 10.5% 2.9% -0.4% 153.0% Underlying dri
Slide 25: Megatrends Driving Upside in Emerging Markets
Megatrends Driving Upside in Emerging Markets Infrastructure related investments are the key drivers of global ‘megatrends’ Rapid economic development requires Emerging market economies offer significant investment in energy strong GDP growth increasing their infrastructure importance in the share o
Slide 26: ICM Investment Team
ICM Investment Team Dedicated investment team with over 100 years of experience Charles Jillings Jacqueline Broers Joint Portfolio Manager Joint Portfolio Manager CEO, ICM Transportation & Utilities Mark Lebbell Eduardo Greca George Velikov Senior Analyst Head of Latam Head of EMEA Digital Infrastru
Slide 27: Fund Facts
Fund Facts Fund size as at 31 May 2025 £519.6m UEM Trading on the Main Market of the London Stock Exchange Ordinary shares in issue as at 31 May 2025 185.6m 1.0% of NAV up to and including £500m; 0.9% of NAV exceeding £500m up to and including £750m; Management Fee 0.85% of NAV exceeding £750m up to
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