BlackRock Latin American Inv Tst Edison review on BlackRock Latin American IT
27 2월 2020 - 12:48AM
RNS Non-Regulatory
TIDMBRLA
BlackRock Latin American Inv Tst
26 February 2020
London, UK, 26 February 2020
Edison issues review on BlackRock Latin American IT (BRLA)
BlackRock Latin American Investment Trust (BRLA) has been
managed by Sam Vecht and Ed Kuczma since late December 2018. They
have created a more concentrated portfolio comprising their
highest-conviction ideas in the region. The managers are employing
gearing in a more tactical way, which they report has proved
successful in both up and down markets, and they have been more
active in adding to and trimming positions when deemed appropriate.
As a result of the changes made, BRLA now has higher stock-specific
risk, but lower country and sector risk. The managers say the
success of the strategy was evidenced in the trust's strong
relative performance in Q419. They are constructive on the
prospects for Latin America in 2020 based on an expectation of
higher economic growth, low interest rates and the potential for a
weaker US dollar.
BRLA's valuation has improved in recent months, and the current
8.8% share price discount to cum-income NAV compares with the
11.6%, 13.1% and 12.9% average discounts over the last one, three
and five years respectively. There is scope for the valuation to
continue to improve given the change in the trust's managers and
the move to a higher distribution policy.
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February 26, 2020 10:48 ET (15:48 GMT)
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