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Utilico Emerging Markets Trust PLC said on Tuesday that its net asset value per share fell, while it increased its interim dividend to shareholders.
The Surrey-based investment trust said its NAV per share on September 30 was 243.29 pence, down 4.3% from 254.22 pence on March 31 and down 2.5% from 249.63 a year ago.
Utilico Emerging said its interim NAV total return was negative 2.8%, outperforming its MSCI Emerging Markets total return index benchmark of negative 7.6%, and swinging from a positive 11% a year ago.
It also declared an interim dividend of 4.15 pence, up 3.8% from 4.00 pence.
Investment Manager Charles Jillings said Utilico Emerging’s half year performance was strong considering the weak markets it was operating in.
‘While short term challenges are numerous and volatility remains elevated, we remain optimistic that the opportunities to invest for the long term are good. Our investee companies remain well managed and well positioned to respond to the challenges and emerge stronger from them,’ said Chair John Rennocks.
Utilico Emerging shares fell 1.0% to 200.00 pence each in London on Tuesday morning.
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