UIL’s objective is to maximise shareholder returns by identifying and investing in investments worldwide where the underlying value is not reflected in the market price. The company’s investment performance is benchmarked against the FTSE All-Share index.
UIL Limited (UIL) is a specialist leveraged fund managed by long-term, deep-value investor ICM. The team, led by Charles Jillings, aims to generate strong total returns by investing in undervalued businesses across the globe. Around 80% of the portfolio is held in collective investment vehicles managed by ICM known as ‘platforms’, each of which has a specific mandate, while the other positions are direct investments. The fund’s three largest sector exposures are financial services, resources and technology (c 75%), while the largest geographic weighting is Australia (c 40%). Jillings is upbeat about UIL’s future prospects; he believes that over the last year the quality of the fund’s assets and its funding structure have improved, and he is encouraged by the company’s strong level of income and reserves.