Bermuda Stock Exchange

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

http://www.uem.bm

Listed Since: 2005/07/20
Delisted on: 2011/11/15
ISIN: BMG931151069
Tel: 441 295 1330
Fax: 441 292 9471
Email: Schroter@fbs.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

Title	Description	Date Posted
2011 Financials	2011 Financials	2011/06/22
Interim Financials to 30 Sep 2010	Interim Financials to 30 Sep 2010	2010/12/10
2010 Financials	2010 Financials	2010/06/09

BSX Listing Type:	Investment Fund
BSX Listing Status:	Delisted

Name	Position	Email
Alexander Eleftherios	Chairman
John Michael Collier	Director
Charles David Owen Jillings	Director
Garth Peter Denis Milne	Director
Kevin James O'Connor	Director

Utilico Emerging Markets Limited - Ordinary Shares

NAV History (GBP)

FINANCIAL AND OTHER INFORMATION

DIRECTORY