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Blackrock Frontiers Investment Trust PLC- investment in frontier markets such as Kazakhstan, Indonesia, Kenya and Philippines - Net asset value per ordinary share as at September 30 was 186.3 US cents, a 47% increase from 126.9 cents at the same time last year. Says net assets rose to USD352.8 million during financial year, up 15% from USD306.0 million the year prior. Attributes improved results to recovery in many countries, particularly in Eastern Europe and the Middle East. Says both of these markets contributed "strongly" to its performance this year. Final dividend remains flat at 4.25 cents. States portfolio revenue recovered to pre-pandemic levels. Confident it can deliver on performance on this year, specifically by investing in emerging markets.
Chair Audley Twiston-Davies says: "The board remains confident that our investment manager can continue to deliver on the performance achieved this year, having extensive resources deployed to these inefficient markets and the local market knowledge required to capitalise in this dynamic and exciting asset class."
Current stock price: 130.78 pence
Year-to-date change: up 10%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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