Blackrock Frontiers Investment Trust PLC - investment in frontier markets such as Kazakhstan, Indonesia, Kenya and Philippines
Net assets on March 31 were USD255.3 million, down 36% from USD400.8 million on September 30. Net asset value per share 105.56 US cents, down from 166.54 cents. NAV per share performance with dividends reinvested in half-year was negative 35%, versus negative 28% for benchmark, the MSCI Emerging Markets Index ex-Selected Countries + MSCI Frontier Markets Index. Declares 2.75 US cents interim dividend. In UAE, investment in NMC Health hurt returns, despite exiting in December; the former FTSE 100 stock's price fell amid allegations over the company's accounting practices and debt position and now has been delisted.
Current stock price: 92.66 pence
12-month change: down 30%
By Tom Waite; thomaslwaite@alliancenews.com
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Blackrock Fr (BRFI)