In QuotedData’s morning briefing 20 June 2022:
- Utilico Emerging Markets (UEM) has posted its final results for the year to 31 March 2022, during which time it delivered an NAV total return of 14.9% and a share price return of 17.6%, way ahead of the MSCI EM total return index which was down 6.9% over the same period. The manager said: ‘The biggest challenge facing all of us is climate change and the war in Ukraine has been a true setback for the global energy ambitions of reducing carbon emissions. However, the best way to address the energy shortfall may be to invest in green technologies and electric vehicles, thereby achieving two ambitions at once, energy security and green energy supply. We are committed to taking steps to become net carbon neutral as a business and have engaged our employees in discussions around the need to reduce our net carbon footprint individually and collectively.’
- The Global Smaller Companies Trust (BGSC) has posted its final results for the year to 30 April 2022. During this time its NAV return was down 0.2% and its share price was down 6.4%. This compares with a fall from the benchmark of 3.2%. With investors becoming more cautious about the global economic outlook, discounts on most smaller company investment trusts have widened considerably. Over the year the discount increased from 3.6% to 9.6%. For the year, revenue returns per share rose by no less than 44.4% to a new high of 1.82p per share. The board recommends a final dividend of 1.27p, making a total for the year of 1.84p, an increase of 5.1% on the year.
We also have calls for an EGM at Trian Investors 1.