Utilico Emerging Markets Trust plc

Overview

Utilico Emerging Markets Trust plc is a UK-listed closed-ended investment trust focusing on infrastructure and utilities in emerging markets. The trust aims to provide long-term total returns by investing predominantly in listed operational infrastructure and utility assets that benefit from global infrastructure megatrends. It employs a benchmark-agnostic, bottom-up investment approach incorporating ESG considerations, focusing on cash-generative assets that often pay dividends. The trust's portfolio is managed by ICM Limited, which has been investing in emerging markets since 2005. The management team consists of career analysts with deep specialization in their fields and multi-decade relationships with companies worldwide. The trust has outperformed the MSCI Emerging Markets Index over the last three, five, and ten years, and since inception, as of 30 September 2024. Established in 2005, Utilico Emerging Markets Trust plc is domiciled in the United Kingdom and is listed on the London Stock Exchange. It became a constituent of the FTSE 250 Index in December 2025. The trust celebrated its 20th anniversary in July 2025 with a closing day ceremony at the London Stock Exchange. As of 31 March 2025, the trust's net asset value total return over the last 20 years was 9.1% per annum, or 471.1% in aggregate, significantly outperforming the MSCI Emerging Markets Index, which was up by 325.3%.

Investment Focus

• Focus on infrastructure and utility sectors
• Investments primarily in emerging markets
• Preference for operational, cash-generative assets that pay dividends