BlackRock Latin American Inv Tst Edison reviews BlackRock Latin American IT (BRLA)

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BlackRock Latin American Inv Tst

17 July 2018

London, UK, 17 July 2018

Edison issues review on BlackRock Latin American IT (BRLA)

BlackRock Latin American Investment Trust (BRLA) is managed by Will Landers, who says that investor attitudes towards Latin American equities have changed. 2017 was a period of confidence in the region's prospects, but now there is more scepticism about the growth outlook. However, the manager remains optimistic about potential returns from Latin American equities. In the key Brazilian economy, he cites higher domestic demand and a favourable interest rate environment, with the benchmark interest rate having more than halved to a record low level. BRLA has recently announced new dividend and discount management policies, which may lead to a narrowing in its discount over time. Dividends will now be paid four times a year, equivalent to 1.25% of the dollar-based, quarter-end NAV. As a result, the trust now offers an attractive prospective yield.

BRLA's current 13.4% share price discount to cum-income NAV is at the wider end of the range of discounts (8.0% to 17.0%) over the last 12 months. It compares with the historical averages over the last one, three, five and 10 years of 13.4%, 13.2%, 12.1% and 8.3% respectively. The trust's revised dividend policy, whereby distributions may be funded from reserves as well as income, means that BRLA now offers an attractive prospective yield of c 4.0%, rising to c 5.5% from FY19.

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July 17, 2018 09:53 ET (13:53 GMT)