Last checked at 12 Oct 2020 16:42
London, UK, 12 October 2020
Edison issues review on BlackRock Latin American IT (BRLA)
BlackRock Latin American Investment Trust (BRLA) is managed by Sam Vecht and Ed Kuczma. Since their appointment in late December 2018, they have concentrated the portfolio and employed gearing more tactically. While mindful of the risks surrounding the global pandemic, the managers are cautiously optimistic on the outlook for Latin America, expecting a sharp improvement in Brazilian economic growth in 2021 helped by robust Chinese demand for commodities. US dollar weakness has also historically been very supportive for equities in the region. Although Latin American earnings estimates have been under significant pressure due to COVID-19, the managers anticipate a sharp rebound in coming quarters.
BRLA is currently trading at a 10.6% share price discount to cum-income NAV, which compares with average discounts of 10.5%, 12.3%, 12.7% and 10.4% over the last one, three, five and 10 years, respectively. There is potential for a narrower discount if there is a step-up in the trust's performance or there is increased investor appetite for Latin American equities.
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