Jacqueline Broers, Joint Portfolio Manager at UEM takes a look back at March's portfolio performance.
UEM’s NAV total return: -3.1%, underperforming the MSCI Emerging Markets Index which declined by -1.8% (in GBP terms).
Over the past 12 months: UEM NAV total return -2.9%, MSCI EM Index +5.7%.
Key events included:
- US market volatility surged following multiple tariff announcements by President Trump, including a 25% auto tariff
- Global sentiment declined: S&P 500: -5.8%, NASDAQ: -8.2%
- Top portfolio performers include: (Aguas Andinas 9%, Ocean Wilsons 8%, Piraeus Port Authority 7.4%)
