money-2724241

BlackRock Latin American Inv. Trust

LN: BRLA

£204.9m market cap

522p last close

The BlackRock Latin American Trust seeks long-term capital growth and an attractive total return primarily through investing in quoted Latin American Securities. The trust was launched in 1990 and management as transferred to BlackRock on 31 March 2006 following a tender process. The manager follows a mainly bottom-up approach that is flexible but seeks growth at a reasonable price. The trust has an indefinite life subject to a biannual continuation vote. The benchmark is the MSCI Emerging Markets Latin America index.

Investment summary

BlackRock Latin American Investment Trust (BRLA) has two experienced new co-managers, Ed Kuczma and Sam Vecht, who are part of BlackRock’s well-resourced global emerging markets equities team and were appointed to manage BRLA in December 2018, following the resignation of former lead manager Will Landers. Kuczma had worked closely with Landers for a number of years and says the transition should be smooth. The managers are constructive on the outlook for Latin American equities in 2019, following a series of headwinds in 2018, citing improving economies, attractive valuations and a more benign political environment. BRLA’s board adopted a new, higher dividend policy in FY18. The trust yields 4.0% based on three interim payments during the last financial year; the total distribution should rise in FY19 based on four quarterly dividend payments.

Share price graph
Price performance
%
1m
3m
12m
Actual 1.8 9.2 18.4
Relative* 0.6 8.7 21.6
52-week high/low 538.0p/378.0p
*% relative to local index
Key management
Charlie Kilner Investment Trust Sales & IR
Sharon Faulkner Analyst - Investment Trusts
Simon White Head of investment trusts

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