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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Adv. Front. Npv | AFMF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 53.125 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 53.125 |
| Top Posts |
|---|
Posted at 07/1/2014 11:38 by davebowler Westhouse;Advance Developing Markets* (ADMF.L, -10.4%, Buy) This remains the key value play in the emerging market space, with the fund continuing to outperform higher-rated vehicles such as Templeton Emerging Markets (TEM.L, -8.0%). Value investors may also be interested in sister fund, Advance Frontier Markets (AFMF.L, -10.2%) at current levels. While Blackrock Frontiers (BRFI.L) continues to add often significantly greater value in terms of the NAV, meriting a pricing gap, this gap has ex panded significantly in recent weeks (see Daily Chart on page 1) and some players may be temp ted to switch at current differentials or allocate capital to AFMF in its own right. |
Posted at 30/5/2013 11:13 by davebowler Frontier MarketsBlackRock Frontiers (BRFI) interim to 31/03/13 ¢ The NAV total return was 22.4% vs MSCI Frontiers Index 18.6% (both in GBP, which flatters returns over the year). Outperformance was due to holdings in the Nigerian banking sector, positions in the UAE & an underweight in Kuwait. ¢ Since the period end, the company's NAV has increased by 8.6% and the share price has increased by 2.9% (both on a sterling basis with net income reinvested). ¢ The Board is currently in the process of identifying the extent of investor demand for a C-share issue and it is expected that a further announcement will be made in the next few weeks. ¢ The Board declared an interim dividend of 2.00 US cents per share payable on 5 July 2013 to shareholders on the Company's register on 7 June 2013. This was an increase of 67% in relation to the interim dividend of 1.20 US cents for the period to 31 March 2012. ¢ Consequently, to avoid dilution of revenue return to existing shareholders, the Board are also declaring a special interim dividend of 3.40 US cents, representing the additional revenue expected to be generated between 1 April 2013 and the anticipated C share conversion date. In total this will equal dividends of 5.40 US cents per share for the year to 30 September 2013, an increase of 42.1% over total dividends of 3.80 US cents paid in relation to the year ended 30 September 2012. ¢ At the company's fifth AGM in 2016 the board will provide shareholders with an opportunity to elect to realise the value of their ordinary shares at NAV per share less costs. The route which will be used to provide shareholders with an exit will depend on the level of uptake anticipated at the time and will be established following shareholder consultation and is likely to be achieved through a tender offer or a reorganisation of the company. To the extent shareholders elect for cash we expect that they will receive their proceeds within approximately six weeks of the relevant AGM. ¢ For the six month period ended 31 March 2013, the company's shares have traded at an average discount to NAV of 4.4%. Investec Insight: Download entire message oledata.mso Shame this is on such a discount to NAV compared to BRFI at a premium |
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