money-2724241

BlackRock Latin American Inv. Trust

LN: BRLA

£125.6m market cap

320p last close

The BlackRock Latin American Trust seeks long-term capital growth and an attractive total return primarily through investing in quoted Latin American Securities. The trust was launched in 1990 and management was transferred to BlackRock on 31 March 2006 following a tender process. The managers follow a mainly bottom-up approach that is flexible but seeks growth at a reasonable price. The trust has an indefinite life subject to a two-yearly continuation vote. The benchmark is the MSCI Emerging Markets Latin America Index.

Investment summary

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.

Share price graph
Price performance
%
1m
3m
12m
Actual 1.3 (3.6) (28.4)
Relative* 0.6 2.5 (13.0)
52-week high/low 504.0p/253.0p
*% relative to local index
Key management
Charlie Kilner Investment Trust Sales & IR
Sharon Faulkner Analyst - Investment Trusts
Simon White Head of investment trusts

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