LONDON (Alliance News) - BlackRock Frontiers Investment Trust PLC on Monday said it outperformed the MSCI Frontier Markets Index in the first half of its financial year.
The trust, whose objective is to generate long-term capital growth by investing in companies operating in frontier markets, said its net asset value fell by 0.1% in the six months ended March 31 and its share price remained flat. The index fell by 2.2% in that period.
"The six months under review have been a challenging period for world equity markets, with exceptional volatility driven by reaction to concerns over weakening economic growth in China, the impact of higher interest rates in the US, and the significance of the ongoing decline in the oil price," Chairman Audley Twiston-Davies said in a statement.
Shares in BlackRock Frontiers Investment Trust were down 1.7% at 109.12 pence on Monday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Blackrock Fr (BRFI)