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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Blackrock Emg | LSE:BEEP | London | Ordinary Share | GB00B0BN1P96 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 318.50 | 315.00 | 322.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
BLACKROCK EMERGING EUROPE PLC All information is at 30 September 2014 and unaudited. Performance at month end with net income reinvested One Three One Three Five *Since Month Months Year Years Years 30.04.09 Sterling: Share price -1.8% -12.7% -13.2% 4.2% 7.5% 58.4% Net asset value -2.3% -10.6% -12.4% 5.9% 7.9% 56.9% MSCI EM Europe 10/40(NR) -3.7% -7.5% -13.3% 2.5% 3.8% 45.2% US Dollars: Share price -4.1% -17.2% -13.2% 8.5% 9.1% 73.4% Net asset value -4.6% -15.2% -12.3% 10.2% 9.5% 71.8% MSCI EM Europe -5.9% -12.3% -13.2% 6.7% 5.2% 58.9% 10/40(NR) Sources: BlackRock, Standard & Poor's Micropal *BlackRock took over the investment management of the Company with effect from 1 May 2009 Annual Performance to the Last Quarter End (Sterling) 30/9/13 30/9/12 30/9/11 30/9/10 30/9/09 30/9/14 30/9/13 30/9/12 30/9/11 30/9/10 NAV Performance -12.45% 6.05% 14.02% -20.83% 28.79% Share Price Performance -13.24% 6.07% 13.25% -20.11% 29.16% At month end Net asset value - capital only: 253.41p Net asset value*** - cum income: 257.75p Share price: 230.63p Total assets^: £99.5m Discount (share price to cum income NAV): 10.5% Gross market exposure^^^: 104.5% Gearing at month end: 0.0% Gearing range as a % of Net assets: 0-20% Net Yield: 0.9%* Issued Capital - Ordinary Shares^^ 36,242,928 Ongoing charges** 1.3% *Based on a dividend of 3.50 cents (2.08407 pence) per share for the year ended 31 January 2014. ** calculated in accordance with AIC guidelines. ***Includes year to date net revenue equal to 4.34 pence per share. ^Total assets include current year revenue. ^^ Excluding 5,400,000 shares held in treasury. ^^^ Long positions plus short positions as a percentage of net asset value. Sector % Net Country % Net Analysis Assets Analysis Assets Financials 36.6 Russia 47.9 Energy 33.7 Turkey 20.4 Consumer Staples 10.5 Poland 10.2 Materials 5.8 Turkmenistan 7.5 Information Technology 4.5 Hungary 6.4 Telecommunications 4.1 Romania 4.1 Industrials 3.9 Ukraine 3.8 Consumer Discretionary 1.8 Lithuania 1.8 Health Care 1.2 ----- ----- 102.1 102.1 ===== ===== Short positions (2.4) (2.4) Fifteen Largest Investments (in % order of Total Market Value as at 30.09.14) Total Market Company Region of Risk Value % Dragon Oil Turkmenistan 7.5 Sberbank Russia 7.5 Novatek Russia 6.9 Garanti Bank Turkey 6.0 Turkiye Sinai Kalkinma Turkey 5.3 Lukoil Russia 4.9 PKO Bank Polski Poland 4.9 BRD Groupe Société Generale - CFD Romania 4.1 Gazprom Russia 4.1 Turkcell Turkey 4.1 Surgutneftegas Russia 4.0 MHP Ukraine 3.8 Uralkali Russia 3.7 OTP Bank Hungary 3.2 Jeronimo Martins Poland 3.2 Commenting on the markets, Sam Vecht and David Reid, representing the Investment Manager noted; Market overview The MSCI Emerging Europe 10/40 Market Index returned -5.9% in USD terms during September. The weakest market was Turkey. The Istanbul bourse sold off as part of a broader Emerging Market decline in response to strong data in the US. This increased the prospects of a US rate hike and strengthened the US Dollar, which has implications for countries that have a current account deficit such as Turkey. Russia outperformed the index during September. The beginning of the month saw a moderate tightening of EU sanctions as their scope was broadened. This had no impact on the Company’s ability to own or trade equities of listed companies. Towards the end of the month the situation on the ground in Ukraine appeared to be easing. The ceasefire has been holding, with minor violations and on September 23rd NATO’s spokesperson said that “there has been a significant pullback of Russian conventional forces” from Ukraine. The worst performing stocks over the period were Russian conglomerate Sistema and its oil producing subsidiary Bashneft. The stocks fell precipitously after Chairman, Vladimir Yevtushenkov, was detained under house arrest pending an investigation into the privatization process of Bashneft. The Company does not own shares in either company. Focus on: Lukoil Lukoil was formed in 1991 following the merger of three state-run companies in western Siberia. The three companies were called Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz and this heritage is preserved in the company's current name. Today, the company is the largest privately-owned company by proved oil reserves. The stock is a relatively new entry to the largest 15 stocks held by the Company. We had previously avoided exposure due to Lukoil's extensive capital expenditure programme. This capital expenditure cycle is coming to an end and there has been a shift in management attitudes towards greater investment discipline. We believe that this new focus will allow the company to generate free cash flow which will enable it to pay a 6% dividend yield. Being an exporter, the company is also a beneficiary of the weakening Rouble. Activity We added to the position in Turkish telecom Turkcell. The company's shares have pulled back further than the Turkish market since the summer, despite the company's defensive profile and progress in the shareholder legal dispute which has been holding back dividend payments. 21 October 2014 ENDS Latest information is available by typing www.blackrock.co.uk/beep on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager's website nor the contents of any website accessible from hyperlinks on the Manager's website (or any other website) is incorporated into, or forms part of, this announcement.
Copyright r 17 PR Newswire
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