25th Jun 2015 10:19
LONDON (Alliance News) - Utilico Emerging Markets Ltd Thursday said it produced a double-digit net asset value total return in its last financial year, though it was marginally behind its comparative index.
The trust's 12.2% NAV total return for the year ended March 31 compared against the 13.2% delivered by the MSCI Emerging Markets Index Total Return (GBP adjusted).
Utilico Emerging Markets' 29.8%, 60.4% and 159.8% performances over three, five and ten years is superior to the index's 9.8%, 13.3% and 149.5%.
"The USA is looking to exit quantitative easing and edge towards normalisation. Japan is expected to continue QE, whilst Europe has just started QE and is expected to continue to do so for some years. These combined initiatives are expected to be positive for asset classes and equity markets," Chairman Alexander Zagoreos said in a statement.
"The liberalisation of the Chinese financial markets may deliver a positive impact on Chinese and Asian equities. Given this backdrop, most emerging market economies continue to achieve positive GDP growth and their outlook is positive. UEM's performance is driven by stock selection and the investment managers remain confident that attractive investments can be made," Zagoreos added.
Shares in the company were flat at 193.50 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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