19
December 2024
UIL
LIMITED
(LEI
Number: 213800CTZ7TEIE7YM468)
Publication of monthly factsheet
The latest monthly factsheet for UIL
Limited ("UIL" or the "Company") will shortly be available through
the Company's website at:
https://www.uil.limited/investor-relations/factsheet-archive
Monthly commentary
PERFORMANCE
UIL's net asset value ("NAV") total
return increased 3.6% in November outperforming the FTSE All Share
total return Index which increased by 2.5% over the
month.
Global markets in November were
dominated by the US election with the Republicans winning the White
House and the Senate. The US market reacted positively given
President Trump now has robust electoral bases to implement his
policies of trade, taxes, immigration and deregulation, with the
focus being primarily on improving the domestic economy. The
S&P 500 Index subsequently reached an all-time high during the
month, up by 5.7%, whilst the Dow Jones Industrial Average Index
was up by 7.5% and the US Dollar appreciated against Sterling by
1.1%.
In Europe, markets were mixed, with
the FTSE 100 Index up by 2.2% and the DAX Index up by 2.9% whilst
political uncertainty in France resulted in a 1.6% decline in the
CAC 40 Index and the Eurostoxx declined by 0.5%. With the prospects
of a more buoyant US market, a tighter Federal policy as well as
higher tariffs, the US Dollar strengthened against the Euro by
2.9%. In Australia, the ASX 200 Index advanced by 3.4%.
Emerging markets also came under
pressure as many witnessed outflows from foreign investors on
uncertainty over the magnitude of Trump's potential trade tariffs,
especially with regards to China where Trump has threatened up to
60% tariffs on imports. The Hong Kong Hang Seng Index was
subsequently down by 4.4%, now having surrendered a large part of
the gains witnessed in early autumn that arose on the back of
promised stimulus that has failed to materialise.
In the commodities markets, Brent
Crude oil was down by 0.3% for the month, copper was down by 6.0%
as persistent demand concerns and a strengthened US Dollar continue
to weigh on the sector, whilst gold declined by 3.7%.
PORTFOLIO UPDATE
UIL's top ten holdings are now
disclosed on a look through basis, taking into account the
underlying investments of Somers Limited and Zeta Resources
Limited. Alliance Nickel replaced The Market Limited within the top
ten. Alliance Nickel is an Australian listed exploration and
development company with nickel and cobalt interests in Western
Australia.
Resimac remains the largest holding,
and its share price was up by 7.0% during the month.
ORDINARY SHARES
The share price of the ordinary shares
advanced by 5.6% to 112.50p in November. UIL bought back 50,000
shares during the month at an average price of 108.98p.
ZDP
SHARES
The share price of the 2026 ZDP shares
was up by 4.4% and the 2028 ZDP shares increased by 10.3% during
the month.
Name
of contact and telephone number for enquiries:
Charles Jillings
ICM Investment Management
Limited
+44(0)1372 271486
