BlackRock Latin American Inv Tst Edison update on BlackRock Latin American IT
July 28 2023 - 1:15AM
RNS Non-Regulatory
TIDMBRLA
BlackRock Latin American Inv Tst
28 July 2023
London, UK, 28 July 2023
Edison issues update on BlackRock Latin American IT (BRLA)
BlackRock Latin American Investment Trust's (BRLA's) lead
manager Sam Vecht and deputy manager Christoph Brinkmann have a
high degree of confidence in the positive prospects for the trust's
portfolio. It has an overweight exposure to Brazil versus its
benchmark, the MSCI Emerging Markets Latin America Index. Vecht
highlights high real interest rates in the country, providing scope
for a lower base rate. Brazil now has a more stable political
situation, and the manager anticipates that the economy should turn
around in H223, which he believes would be positive for equity
performance. Vecht and Brinkmann consider that BRLA's portfolio has
real potential to deliver better absolute and relative
performance.
BRLA's 13.6% discount is wider than the 9.9% to 11.5% range of
average discounts over the last one, three, five and 10 years. Over
the last 12 months the trust has traded between a 0.6% premium
(around the time of a tender offer) and a 19.6% discount. There is
scope for a higher valuation if the trust's performance improves or
investors' risk appetite increases. BRLA has a clearly defined
dividend policy; payments are based on 1.25% of its quarterly NAV.
The trust currently offers an attractive 5.4% yield.
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