Bermuda Stock Exchange

c/o Appleby Securities (Bermuda) Ltd
22 Victoria Street
Hamilton HM 12
Bermuda

Tel: 441 295 1330
Fax: 441 292 9471
Email: schroter@fbs.bm

ISIN: BMG931151069
CFI code: CICIXX

Website: www.uem.bm

The Fund was incorporated on 9 June 2005 under the laws of Bermuda as a close-ended investment vehicle.

The Ordinary Shares and Warrants have a primary listing on AIM and secondary listing on the BSX. Both listings were effective as of 20 July 2005.

The investment objective of the Fund is to provide long-term capital appreciation by investing predominantly in utilities and related companies in Emerging Markets.

Bloomberg Ticker: UTILEMU.BH

Voluntarily delisted from BSX upon gaining primary listing on the LSE in the UK.

NAV History (GBP)

Date	NAV	Change	% Change
2011/11/14	163.3800	0.0000	0.00
2011/11/08	159.7400	0.0000	0.00
2011/11/07	159.1700	0.0000	0.00
2011/11/04	159.2100	0.0000	0.00
2011/11/03	158.9600	0.0000	0.00
2011/11/02	160.3300	0.0000	0.00
2011/11/01	160.4400	0.0000	0.00
2011/10/31	161.7900	0.0000	0.00
2011/10/28	161.9600	0.0000	0.00
2011/10/27	159.2900	0.0000	0.00
2011/10/25	155.8800	0.0000	0.00
2011/10/21	154.2000	0.0000	0.00
2011/10/19	0.0761	0.0000	0.00
2011/10/17	156.7300	0.0000	0.00
2011/10/15	155.0700	0.0000	0.00
2011/10/13	154.3000	0.0000	0.00
2011/10/12	151.6400	0.0000	0.00
2011/10/11	151.8400	0.0000	0.00
2011/10/10	150.6400	0.0000	0.00
2011/10/06	149.1000	0.0000	0.00
2011/10/04	144.5000	0.0000	0.00
2011/09/30	149.8500	0.0000	0.00
2011/09/29	149.2400	0.0000	0.00
2011/09/28	149.9800	0.0000	0.00
2011/09/27	149.5200	0.0000	0.00
2011/09/26	147.1900	0.0000	0.00
2011/09/23	152.5700	0.0000	0.00
2011/09/22	156.9200	0.0000	0.00
2011/09/20	160.2800	0.0000	0.00
2011/09/16	164.1700	0.0000	0.00
2011/09/15	163.9800	0.0000	0.00
2011/09/13	164.9700	0.0000	0.00
2011/09/12	165.5700	0.0000	0.00
2011/09/08	167.6300	0.0000	0.00
2011/09/02	169.2500	0.0000	0.00
2011/09/01	169.6700	0.0000	0.00
2011/08/31	167.1300	0.0000	0.00
2011/08/30	166.3100	0.0000	0.00
2011/08/29	164.5000	0.0000	0.00
2011/08/25	164.2000	0.0000	0.00
2011/08/24	163.2000	0.0000	0.00
2011/08/19	162.6400	0.0000	0.00
2011/08/18	165.3700	0.0000	0.00
2011/08/16	167.5700	0.0000	0.00
2011/08/04	178.4000	0.0000	0.00
2011/08/03	175.5100	0.0000	0.00
2011/08/01	180.2000	0.0000	0.00
2011/07/29	177.9200	0.0000	0.00
2011/07/26	179.5100	0.0000	0.00
2011/07/25	179.4500	0.0000	0.00
2011/07/15	181.9300	0.0000	0.00
2011/07/13	181.8000	0.0000	0.00
2011/07/11	184.6800	0.0000	0.00
2011/07/08	184.5100	0.0000	0.00
2011/07/07	184.8500	0.0000	0.00
2011/07/05	183.8000	0.0000	0.00
2011/07/04	183.9500	0.0000	0.00
2011/07/01	181.8700	0.0000	0.00
2011/06/30	180.8300	0.0000	0.00
2011/06/29	179.6400	0.0000	0.00
2011/06/27	178.0400	0.0000	0.00
2011/06/24	178.4200	0.0000	0.00
2011/06/23	178.2400	0.0000	0.00
2011/06/21	176.6200	0.0000	0.00
2011/06/13	178.0600	0.0000	0.00
2011/06/09	179.4400	0.0000	0.00
2011/06/08	179.7800	0.0000	0.00
2011/06/07	179.9700	0.0000	0.00
2011/06/06	181.0200	0.0000	0.00
2011/06/03	182.2800	0.0000	0.00
2011/06/02	182.6100	0.0000	0.00
2011/06/01	181.9000	0.0000	0.00
2011/05/31	180.0300	0.0000	0.00
2011/05/30	180.5200	0.0000	0.00
2011/05/26	179.0200	0.0000	0.00
2011/05/25	178.9700	0.0000	0.00
2011/05/24	181.0100	0.0000	0.00
2011/05/19	182.5900	0.0000	0.00
2011/05/18	182.0600	0.0000	0.00
2011/05/17	181.5900	0.0000	0.00
2011/05/16	179.3800	0.0000	0.00
2011/05/11	179.2400	0.0000	0.00
2011/05/10	179.9000	0.0000	0.00
2011/05/05	177.4800	0.0000	0.00
2011/04/30	177.0200	0.0000	0.00
2011/04/27	178.2900	0.0000	0.00
2011/04/25	178.8700	0.0000	0.00
2011/04/20	178.9800	0.0000	0.00
2011/04/19	178.7400	0.0000	0.00
2011/04/15	178.6400	0.0000	0.00
2011/04/14	177.9000	0.0000	0.00
2011/04/12	177.1600	0.0000	0.00
2011/04/11	176.3400	0.0000	0.00
2011/04/06	175.6800	0.0000	0.00
2011/04/04	174.8200	0.0000	0.00
2011/03/30	172.8100	0.0000	0.00
2011/03/28	171.2300	0.0000	0.00
2011/03/25	171.7700	0.0000	0.00
2011/03/22	168.3900	0.0000	0.00
2011/03/17	168.6200	0.0000	0.00
2011/03/11	173.5900	0.0000	0.00
2011/03/09	173.1900	0.0000	0.00
2011/03/07	172.8000	0.0000	0.00
2011/03/03	170.6900	0.0000	0.00
2011/03/01	169.9600	0.0000	0.00
2011/02/28	168.3400	0.0000	0.00
2011/02/21	172.1100	0.0000	0.00
2011/02/18	172.2800	0.0000	0.00
2011/02/17	172.3500	0.0000	0.00
2011/02/15	171.6000	0.0000	0.00
2011/02/11	171.2900	0.0000	0.00
2011/02/10	171.6000	0.0000	0.00
2011/02/07	173.1500	0.0000	0.00
2011/01/27	176.5400	0.0000	0.00
2011/01/26	177.0600	0.0000	0.00
2011/01/25	177.4700	0.0000	0.00
2011/01/18	178.8200	0.0000	0.00
2011/01/11	181.2600	0.0000	0.00
2010/12/21	177.9200	0.0000	0.00
2010/12/07	176.3300	0.0000	0.00
2010/11/23	173.2800	0.0000	0.00
2010/11/16	172.5600	0.0000	0.00
2010/10/31	174.1600	0.0000	0.00
2010/10/26	174.4700	0.0000	0.00
2010/10/19	174.5300	0.0000	0.00
2010/10/05	169.4600	0.0000	0.00
2010/09/30	168.6900	0.0000	0.00
2010/09/28	166.2700	0.0000	0.00
2010/09/21	167.3300	0.0000	0.00
2010/09/14	1.6717	0.0000	0.00
2010/09/07	165.8400	0.0000	0.00
2010/08/24	160.1800	0.0000	0.00
2010/08/17	156.4100	0.0000	0.00
2010/07/20	161.5300	0.0000	0.00
2010/07/13	162.0000	0.0000	0.00
2010/06/30	163.0200	0.0000	0.00
2010/06/22	165.7500	0.0000	0.00
2010/06/08	157.7800	0.0000	0.00
2010/06/07	160.8700	0.0000	0.00
2010/05/31	158.7200	0.0000	0.00
2010/05/18	164.2600	0.0000	0.00
2010/05/11	161.9000	0.0000	0.00
2010/04/30	162.6500	0.0000	0.00
2010/04/13	160.3000	0.0000	0.00
2010/03/31	156.3800	0.0000	0.00
2010/03/23	153.5000	0.0000	0.00
2010/02/16	144.7200	0.0000	0.00
2010/02/09	142.8400	0.0000	0.00
2010/02/04	48.4100	0.0000	0.00
2010/01/31	142.3800	0.0000	0.00
2010/01/26	143.2500	0.0000	0.00
2010/01/19	147.6400	0.0000	0.00
2010/01/12	149.2200	0.0000	0.00
2009/12/31	145.2800	0.0000	0.00
2009/12/15	143.0400	0.0000	0.00
2009/11/17	135.8900	0.0000	0.00
2009/11/10	139.3800	0.0000	0.00
2009/10/31	137.2200	0.0000	0.00
2009/10/27	140.0100	0.0000	0.00
2009/10/20	140.8400	0.0000	0.00
2009/10/13	144.1500	0.0000	0.00
2009/10/06	140.5700	0.0000	0.00
2009/09/30	137.0900	0.0000	0.00
2009/09/22	137.6400	0.0000	0.00
2009/09/15	134.1100	0.0000	0.00
2009/08/31	131.9900	0.0000	0.00
2009/08/25	132.3700	0.0000	0.00
2009/07/31	127.1500	0.0000	0.00
2009/07/28	127.4000	0.0000	0.00
2009/07/21	124.9500	0.0000	0.00
2009/07/14	121.5200	0.0000	0.00
2009/07/07	121.6700	0.0000	0.00
2009/06/23	119.7300	0.0000	0.00
2009/06/09	126.2300	0.0000	0.00
2009/05/31	124.9100	0.0000	0.00
2009/05/26	122.7900	0.0000	0.00
2009/05/19	123.8800	0.0000	0.00
2009/04/28	118.0800	0.0000	0.00
2009/04/14	113.3800	0.0000	0.00
2009/03/31	106.8600	0.0000	0.00
2009/03/10	105.2800	0.0000	0.00
2009/02/28	102.1700	0.0000	0.00
2009/02/17	105.4100	0.0000	0.00
2009/02/10	103.2400	0.0000	0.00
2009/01/31	101.1300	0.0000	0.00
2009/01/27	102.4100	0.0000	0.00
2009/01/20	103.1700	0.0000	0.00
2009/01/06	107.6300	0.0000	0.00
2008/12/31	106.0500	0.0000	0.00
2008/12/16	19.5700	0.0000	0.00
2008/11/25	94.9200	0.0000	0.00
2008/11/18	99.3800	0.0000	0.00

FINANCIAL AND OTHER INFORMATION

Date Posted	Description
22 Jun 2011	2011 Financials
10 Dec 2010	Interim Financials to 30 Sep 2010
09 Jun 2010	2010 Financials

Listing Type:	Investment Fund
Listing Status:	Delisted
Listed:	20 Jul 2005
Delisted:	15 Nov 2011

Utilico Emerging Markets Limited - Ordinary Shares

NAV History (GBP)

FINANCIAL AND OTHER INFORMATION

Date Posted

Description

22 Jun 2011

2011 Financials

10 Dec 2010

Interim Financials to 30 Sep 2010

09 Jun 2010

2010 Financials