|Blackrock Lat A
||EPS - Basic
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Blackrock Lat A Share Discussion Threads
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|I see Edison has come out with a note.
I am not in at the moment-and indeed sold too early- and not inclined to go back in as to me Brazil is very messy-even with falling inflation and even if there are no further car wash cabinet resignations I do not see the Government having the political authority to push through the reforms needed.|
|Just been through the prelims; of course with the good monthly fact sheets no surprises; after their decent out performance of the benchmark in 2014, in 2015 they underperformed the benchmark by 0.1% as the positive 1.4% of asset allocation was not enough to compensate for the -0.3% in stock selection and opex/fees of 1.2%.
I have reduced a bit in the last fortnight as I cannot fathom why both the real and bovespa have been so strong-and as the end of January 42% of the portfolio was in Brazil.
PS Interesting to see that NAV as of yesterday March 7 was 498c- a good increase from the 459 at 31.12.15 which means the shares are at an approx. 12% discount.|
|Been having a look at these especially comparing with ALAI. It is different from ALAI in that it is 100% equities and no fixed income; currently has no gearing and also more than twice the size of ALAI
Note that trading on a decent discount to the NAV yesterday at 320p and also yield 6.8%
While underweight Brazil compared to the index still has more than 50% of its portfolio there and still think we have more bad news so will be watching and waiting but seems to be a well run trust.|
|I started watching at 370p but thought it would decline further. It's now at a yield level that makes it interesting though I feel another 6-18 months may be required before a turnaround may occur... worth a punt soonish.|
|Any holders out there. Chunky yield but will Latin America ever recover?|
its the oxman
|IC section this week on Brazil, featuring BRLA:
|You should have received details of the tender offer in the post by now....price is 98% of the NAV on 30th March. Tender is for up to 5% of the company's shares. Can tender for more than your 5% but will only get more if other holders do not take up their full entitlement. Closing date is 3pm 19th March.
I intend to tender for as many as possible then buy back at a lower price.|
|does anyone know anything about the tender offer please|
|Nice steady recovery.|
I am still with BRLA despite its autumn price consolidation. Winter seems to have brought back some growth.
What do you think about GPM Golden Promise Precious Metals-an IT on steroids? Listened to their enthusiastic and knowledgable manager and their performance is suberb. It's now also suitable for an ISA
The AIC site use the last NAV currently 777 for calculating Discount however has never been more than + or - 5% so irrelevant to me. More important to me is the long term capital growth. It could be bought for £1 in 2003 and its now worth nearly £8
The accepted wisdom with IT's is to buy in a bull market to take advantage of the gearing but sell when you think a correction is about to take place. They can't ungear easily as the money is borrowed.
I did use to be a buy and hold investor but not any longer.
|Anyone know which figure to use for calculating discount?|
|I'm with you FJ. I have slowly moved into several IT's over last two years. partly for the spread of shares, but mostly to get exposure to different global markets at, in my opinion, less risk than direct shares. So far has worked well. The fact that IT's are out of favour is another plus for me.|
|Hi guys 6 posts in a year seems light for this IT. Is everyone buying ETR's now instead of IT's?
I have held BRLA since July 2007 when it was sub £5 and see no reason to sell. It's just unexciting however keeps ticking up and hopefully can break through resistance at £6.70
Direct investment in shares seems to many to be more attractive but often market prices, overhangs or permit problems can severely affect single company share prices.
For this reason I recently also bought into Templeton Emerging Markets Investment Trust however my timing has not been all that good and I am still down 5%
Strange however it seems Investment Trusts seem to be a little out of favour compared to say 10 years ago. Buying ETR's seems very impersonal to me however I might be a bit old fashioned!
|Just down with the market? Or am I missing something? The surge has definitely stopped and it's having difficulty getting going again.|
|I've bought in today. Have taken a deliberate approach to investing in companies that have either direct or indirect exposure to Brazil, India and Far East - infact anywhere except the UK. Have added it to my holdings in SST and JII. A good long term investment for me - I think it's high probability to be higher in 5 years time compared to the FTSE All Share.|
|Looking to invest in BRLA and Invesco Perpetual Latin America (which I have in the past) but just wary of the rise. I guess for long term investing this should not make too much a difference but feel there has to be a correction at some point.|
2 Stocks outperforming the market.
BRLA=Blackrock Latin America I.T
cyn=City Natural Resouces High Yield Trust
CLICK GRAPH TO ENLARGE
Hope this helps to build the possible future picture!
Brazil and the IMF
Published: October 5 2009 14:45 | Last updated: October 5 2009 23:49
What a fortnight for Brazil . Rio 's victory over three developed-world metropolises to host the 2016 Olympics boosted the self-esteem of a country keen for respect on the world stage. It was accompanied by two other events that led to fewer sambas but which were still important: the upgrading of Brazil to investment grade by Moody's, the final holdout among ratings agencies, and Brazil's agreement to provide the International Monetary Fund with a $10bn loan giving after years of taking. The IMF deal is part of a long-discussed $80bn likely to come from the Brics, rounded out by Russia , India and China . The holders of a collective $2,800bn in reserves are looking for more influence at the institution. With under 10 per cent of voting power less than a third of what European Union nations collectively wield they feel under-represented. Reforms approved to expand voting power of developed nations by 5 percentage points do not do enough to dispel the perception that the IMF is a primarily North Atlantic institution.
Critics of larger changes to the status quo might say that swollen reserves in part reflect a fleeting commodity windfall for countries such as Brazil and Russia , which were among the funds' largest supplicants in the past 11 years. Though richer, the Brics still have more primitive financial systems than, say, Belgium . But the banking meltdown of the past two years has demolished such arguments. For the first time, a crisis of developed countries' own making was eased by developing ones. Brics are an obvious source of funds to underpin the global recovery, so why not demand more clout? As western institutions have reminded them through periodic crises over the decades, money talks.|
|How long will the current Olympics-sparked euphoria last? or how far can the share price go?|
To obtain long term capital appreciation through investment in quoted Latin American securities.
Ten Largest Investments as at 30-Nov-15:
Company - Country of Risk
6.6% Femsa - Mexico
6.1% Itaú Unibanco - Brazil
5.6% AmBev - Brazil
5.1% Grupo Financiero Banorte - Mexico
4.3% Walmart de Mexico
4.3% Cemex - Mexico
3.9% América Móvil - Mexico
3.9% Banco Bradesco - Brazil
3.8% BB Seguridade Participacoes - Brazil
3.4% Fibria Celulose - Brazil|
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