Last checked at 5 Mar 2019 11:20
London, UK, 5 March 2019
Edison issues review on BlackRock Latin American IT (BRLA)
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.
BRLA's current 14.9% discount to cum-income NAV is wider than the 14.7%, 13.8% and 12.7% average discounts over the last one, three and five years respectively. The trust has adopted a new dividend policy, paying quarterly dividends based on 1.25% of quarter-end $ NAV, rather than semi-annual dividends based on BRLA's level of income. FY18 was a transitional year with three quarterly dividends paid totalling 23.55c per share, which is equivalent to a 4.0% dividend yield.
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