Jacqueline Broers, Deputy Portfolio Manager at Utilico Emerging Markets provides an insight into the trust's performance for April 2024. In April, UEM's NAV total return decreased by 0.1%, underperforming the MSCI EM Index, which increased by 1.4% in Sterling terms. Global markets were mixed in April, S&P 500 Index was down 4.2% and showed that inflation is stickier than hoped. Moving onto EM, the Turkish Index was up 9.9%, Argentina also followed suit with the Merval Index up 9.1% as investor sentiment significantly improved, amid structural reforms from the Milei government. Hong Kong Hang Seng Index and the Shanghai Composite Index were both up 7.4% and 2.1% respectively. India's Sensex Index was also up 1.2% as the country's general election started. However, Vietnam's Ho Chi Minh Index was down 5.8%, higher U.S. interest rates has put pressure on the Vietnamese Dong. Moreover, Brazil's index was down 1.7% as U.S. rate cuts resulted in repricing of the yield curve. The were no changes in the UEM's portfolio for April. Read the factsheet via London South East - https://static.lse.co.uk/downloads/investment-trusts/factsheets/icm-group/trusts/utilico-emerging-markets-trust/april-2024-factsheet.pdf