Edison issues review: BlackRock Latin American IT

RNS Number : 0509F

BlackRock Latin American Inv Tst

15 February 2018

 

London, UK, 15 February 2018

Edison issues review on BlackRock Latin American IT (BRLA)

BlackRock Latin American Investment Trust (BRLA) is managed by Will Landers, who has 26 years of experience at BlackRock. He is optimistic on the outlook for Latin American equities in 2018, due to relatively attractive company valuations and improving economies in the region, especially in Brazil, where he describes the recovery as "slow and sure". He says that in 2017, emerging market equity performance was led by Asian companies and there is potential for Latin American companies to catch up if investors have confidence in the improving economic outlook. After a recent improvement in investment performance, BRLA's NAV total return is now outperforming the benchmark over one, three and five years.

Over the last three years, BRLA's share price discount to cum-income NAV has been broadly in a range of c 8% to c 16%. The current 14.6% discount is wider than the range of averages over the last one, three, five and 10 years of 8.0% to 13.2%. Effective from 2016, there is a biennial 24.99% tender offer in place, which is triggered if BRLA underperforms the benchmark total return by more than 1% pa and the share price discount to cum-income NAV has averaged more than 5% over the same two-year period. The performance threshold was achieved in the two years ending 31 December 2017, so there will be no 2018 tender.  

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