Overview
BlackRock Frontiers aims to achieve long term capital growth by investing in companies domiciled or listed in, or exercising the predominant part of their economic activity in, less developed countries. These countries are any country which is neither part of the MSCI World Index of developed markets nor one of the eight largest countries by market capitalisation in the MSCI Emerging Markets Index as at 1 April 2018: being Brazil, China, India, Korea, Mexico, Russia, South Africa, and Taiwan.
The fund manager’s website can be reached here.
Fundamentals
Price
Research History
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05 Jan 2023 90 min read
QuotedData’s Economic and Political Monthly Roundup January 2023
Economic and Political Monthly Roundup Investment companies | Monthly | January 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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08 Jun 2020 8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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11 Sep 2019 3 min read
QuotedData’s investment companies roundup – September 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over August, we published notes on Aberdeen Emerging Markets and JLEN Environmental Assets . You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite for risk was generally down in August, as […]
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18 Jan 2019 1 min read
QuotedData’s economic roundup – January 2019
QuotedData’s economic roundup – January 2019 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
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14 Jun 2017 1 min read
QuotedData’s economic round up – June 2017
QuotedData’s economic round up – June 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
News
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05 Dec 2024 4 min read
BlackRock Frontiers extends lead over benchmark
BlackRock Frontier Markets has announced results for the 12 month period ended 30 September 2024. Over that period, the NAV return was 16.5% (in US dollar terms, or 6.0% in sterling terms) ahead of the 15.7% (+5.3% in £) return posted by the trust’s benchmark index (MSCI World Frontier Markets). The discount widened marginally from […]
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30 Nov 2023 3 min read
BlackRock Frontiers delivers impressive performance
Over the year to 30 September 2023, BlackRock Frontier Markets produced an NAV total return of +25.1% (in US dollars), compared to an increase in its benchmark index of +5.0%. For Sterling based shareholders, the equivalent return for the year was +14.3%, with the index returning -3.9%, representing an outperformance of 18.2%. The discount narrowed […]
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20 Oct 2023 3 min read
QD view – Back an alpha hero
Calling the direction of global markets is not an easy task. Be it the whims of central bankers, the next hottest thing in tech up-ending the market, or the seemingly constant stream of geopolitical crises – what we once thought was the calm after the COVID-19 storm may have only been the eye, as today […]
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06 Jun 2023 1 min read
QuotedData’s morning briefing 6 June 2023
Marwyn Value Investors (MVI) announced the appointment of Will Self to the company’s board as CEO, leading the development and execution of MVI’s overall company strategy. James Corsellis, CIO commented: “We are delighted to be working with Will in his new role as CEO, alongside Mark Hodges as chairman, as the company continues in the […]
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01 Mar 2023 2 min read
QuotedData’s morning briefing 1 March 2023
In QuotedData’s morning briefing 1 March 2023: Aquila Energy Efficiency (AEEE/AEET) did fail its continuation vote (as flagged 27 August). By 28 August 2023 (six months after the meeting), the directors will recommend to shareholders whether the company be reconstructed, re-organised or placed into liquidation, having explored all options and determined the best solution including […]
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08 Dec 2022 2 min read
War holds back BlackRock Frontiers despite no direct Russian exposure
BlackRock Frontier Markets underperformed its benchmark over the 12 months ended 30 September 2022, returning -10.9% to the benchmark’s -7.3% (in US dollar terms – in sterling the figures were +7.7% versus +12.0%). The benchmark is a complex beast (MSCI Emerging Markets Index ex Selected Countries + MSCI Frontier Markets Index + MSCI Saudi Arabia […]
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10 Dec 2021 3 min read
QD view – Opportunities on the forefront(iers)
COVID-19 has monopolised headlines across all industries for the past two years, so you’d be forgiven for missing many other stories, especially those in already niche areas of the global investment market. But there are plenty of things to get excited about in the under-owned and under-represented frontier markets, which despite representing approximately 30% of […]
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15 Jun 2021 2 min read
QuotedData’s morning briefing 15 June 2021
In QuotedData’s morning briefing 15 June 2021: RTW Venture, who we had on the weekly show last Friday, said yesterday that it is planning to issue new ordinary shares at a price of US$2.07. This is an 11.9% premium to the last NAV. The results of this should be out later today. CIP Merchant Capital (CIP) has […]
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26 Feb 2021 1 min read
QuotedData’s weekly news show 26 February 2021
QuotedData’s weekly news show 19 February 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Law Debenture’s results Troy Income & Growth change of manager BlackRock Frontier Markets shrinking Richard Williams also covered: […]
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23 Feb 2021 1 min read
Blackrock Frontiers set to shrink
Blackrock Frontiers set to shrink – BlackRock Frontiers Investment Trust has announced the result of its tender offer. The tender closed at 1.00 p.m. on 19 February 2021 and was approved by shareholders today. 51,884,770 ordinary shares, representing 21.51% of the shares in issue as at 19 February 2021 were validly tendered. Now, the company’s assets […]
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19 Feb 2021 3 min read
QD view – Resurgent emergence
QD view – Resurgent emergence: What are the prospects for emerging markets funds as the global economy recovers from COVID-19? The place to be Quite a few commentators have been picking emerging markets as the place to be in 2021. Part of the argument is that many of them (particularly in parts of Asia) coped […]
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11 Dec 2020 3 min read
BlackRock Frontiers sees discounts in key markets as not reflective of economic reality
Over BlackRock Frontiers’s (BRFI’s) year to 30 September 2020, its NAV returned -20.0% while the benchmark delivered -15.6%. Performance has been much better over the post reporting period, with the NAV up 27.9% from 30 September to 8 December, compared to the benchmark’s 15.5% return. BRFI’s managers, Sam Vecht and Emily Fletcher, believe that the value […]
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22 Apr 2020 2 min read
BlackRock Frontiers reflects on March performance with Indonesia, Egypt and Vietnam hit particularly hard
BlackRock Frontiers (BRFI) In their capacity representing BRFI’s manager, Sam Vecht and Emily Fletcher, said: “The company’s NAV returned -25.6% (as at 31 March 2020) versus its benchmark the MSCI emerging ex selected countries + frontier markets + Saudi Arabia benchmark index which returned -19.4% in March. For reference, the MSCI emerging markets index ended the […]
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11 Dec 2018 6 min read
BlackRock Frontiers completes a transition year
BlackRock Frontiers (BRFI) has announced its final results for the year ended 30 September 2018. During the year, which the trust’s chairman describes as being a transition year, BRFI provided an NAV total return of -6.6% (in US dollar terms) thereby underperforming its reference index, which rose by 2.3%. (With effect from 1 April 2018, […]
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27 Nov 2018 1 min read
BlackRock Frontier announces result of rollover
BlackRock Frontier announces result of rollover- BlackRock Frontier Markets (BRFI) has announced today the results of the C share issue from BlackRock Emerging Europe plc (BEEP) windup (read more here). BlackRock Frontier will be issuing C shares for 100 pence per C share in exchange for the transfer to it of cash, cash equivalent and […]
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17 Aug 2018 2 min read
BlackRock Emerging Europe’s liquidation plans announced
BlackRock Emerging Europe’s liquidation plans announced – on 14th June, the Board of BlackRock Emerging Europe (BEEP) announced that its tender offer had not secured enough money to make continuing running the company viable. Click here to read more on our coverage of that decision. The Board of BEEP have looked at the options and have come up with […]
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04 Dec 2017 1 min read
BlackRock Frontiers premium persists despite share issues
BlackRock Frontiers premium persists despite share issues – BlackRock Frontiers Income reports that, during the year to 30 September 2017, the NAV increased by 21.5%, compared with the benchmark, the MSCI Frontier Markets Index, which rose by 25.5%. The MSCI Emerging Markets Index rose by 22.5% over the same period. (All performance figures are in US […]
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23 Nov 2016 3 min read
BlackRock Frontiers’ Argentinian exposure does well
BlackRock Frontier Markets reports that, during the year to 30 September 2016, its NAV increased by 9.3%, significantly outperforming the benchmark, the MSCI Frontier Markets Index, which rose by 0.9%. The MSCI Emerging Markets Index rose by 16.8% over the same period. The Directors are recommending the payment of a final dividend of 4.00 cents […]
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10 Oct 2016 1 min read
‘When people were worried about Pakistan and Argentina, we were buying’
In some ways, frontier markets are the start-ups of the investment world. They have huge untapped growth potential but are precarious propositions with no guarantee of success and are difficult for investors to access. On its own, each individual market is incredibly risky. Bundled together in indices and funds, they offer a potentially compelling investment […]
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17 May 2016 4 min read
BlackRock Frontiers benefits from sterling weakness
BlackRock Frontiers, managed by Sam Vecht (pictured) and Emily Fletcher, has announced its interim report for the six months ended 31 March 2016. During the period, the trust provided an NAV total return of -0.1% and share price total return of 0.1%, thereby outperforming the MSCI Frontier markets index which returned -2.2% but underperforming the MSCI […]
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28 Jan 2016 2 min read
F&C Managed Portfolio beats UK market
F&C Managed Portfolio Trust has published interim results for the six months ended 30 November 2015, announcing a net asset value total return of -5.1% for the Income shares and -2.4% for the Growth shares compared to the FTSE All-Share Index return of -6.4%. The key drivers of the performance of the Growth Portfolio were […]
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18 Dec 2015 3 min read
BlackRock Frontiers will hold tender but aims to expand overall
BlackRock Frontier Markets managed to outperform its benchmark over the year to the end of September 2015, returning -12.2% on net assets against a -18.9% return on the MSCI Frontier Markets Index. Frontier Markets underperformed wider emerging markets as evidenced by a -13.6% return on the MSCI Emerging Markets Index. The return to shareholders was […]
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18 May 2015 1 min read
BlackRock Frontier outperforms in difficult market
The six months to the end of March 2015 have been a difficult time for BlackRock Frontier Markets. the MSCI Frontier Markets Index has returned -7.4% over this time – well behind the 6.6% return generated by the MSCI Emerging Markets Index. The fund’s asset value outperformed its benchmark, returning -4.2% but the shares moved […]
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02 Dec 2014 1 min read
Relatively poor year for BlackRock Frontiers
BRFI : Relatively poor year for BlackRock Frontiers BlackRock Frontier Markets generated a total return on net assets of 21.1% over the year to the end of September 2014 which is good in absolute terms, a lot better than the MSCI Emerging markets Index which returned 4.2% but well behind its benchmark, the MSCI Frontier […]
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21 May 2014 1 min read
BlackRock Frontiers : BRFI – interims
BlackRock Frontiers, managed by Sam Vecht (pictured), says that over the six months ended 31 March 2014 the total return on its net asset value was 7.8% in Sterling (11.0% in US dollars). The return lagged that of the MSCI Frontiers Index which returned 11.2% in Sterling and 14.4% in US dollars. The report attributes the […]
Upcoming Events
Videos
In The Press
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09 Dec 2024 1 min read
Investment trust insider on discounts on European trusts
Investment trust insider on discounts on European trusts – James Carthew: Grab the value in Europe before the discount players do Political and economic uncertainty is piling up in Europe and that is creating investment opportunities, particularly among smaller company investment trusts. A year ago, I wrote an article about Saba Capital’s dealings with European […]
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20 Feb 2023 1 min read
Deep Dive: Frontier markets investment opportunities continue to shrink
Eve Maddock-Jones, Investment Week, 17 February 2023: Investors seeking broader portfolio diversification and higher risk returns via frontier markets have fewer options available today than in 2021. Persistent poor performance encouraged several liquidations of emerging markets portfolios, such as the Jupiter Emerging & Frontier Markets trust. This has meant “investors wanting to invest in frontier […]
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20 Dec 2022 1 min read
As Terry Smith’s emerging market trust closes, where should investors turn?
Jennifer Hill from interactive investor, 20 December 2022: We asked financial advisers, fund analysts and wealth managers to share 10 emerging market fund and investment trust ideas for shareholders in Fundsmith Emerging Equities Trust who are looking for a new home for their capital. Shareholders in Fundsmith Emerging Markets Trust (FEET) overwhelmingly gave their blessing […]
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12 Dec 2022 1 min read
Investment trust insider on EMEA
Investment trust insider on EMEA – James Carthew: In emerging market turmoil, ‘eclectic’ EMEA has surprise appeal China still dominates the MSCI Emerging Markets Index, accounting for 30% of the benchmark at the end of November 2022. Its weak markets, largely a product of its zero-Covid policy, have weighed on the returns of global emerging […]
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11 Oct 2022 1 min read
Bargain Hunter: 12 investment trusts near biggest discount in five years
by Kyle Caldwell, interactive investor, 11th October 2022: Investment trust discounts have widened notably since the beginning of the year, rising from 1.5% to 15.7% for the average discount, according to analyst Winterflood. The bear market that’s played out this year in response to high levels of inflation, increases in interest rates and geopolitical tensions, […]
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03 Oct 2022 1 min read
Terry Smith is dubbed Britain’s Warren Buffett but as even he winds up his trust… should YOU steer clear of emerging markets too or is it time to buy?
By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 2 October 2022: Making money from emerging markets is not easy. Even veteran investor Terry Smith, hailed as Britain’s Warren Buffett, has announced he is winding up his fund that operates in the region, because it has ‘underperformed expectations’… But these fund disappointments do not mean that emerging […]
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21 Jan 2022 1 min read
The expensive and cheap Asian and emerging market trusts
Eve Maddock-Jones, Reporter, Trustnet, 10 January 2022: There were several bargains to be had among IT Asia Pacific and IT Global Emerging Market trusts, with many moving to a much wider discount that its five-year average. The Asia Pacific and Emerging Market sectors struggled in 2021, ranking in the bottom half of all regional sectors […]
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24 Jun 2021 2 min read
Is now the time to move on these historically cheap trusts?
Trustnet searched across the AIC sectors to find the investment trusts that are trading on a historically attractive discount compared to five years ago and that have still maintained performance. By Rory Palmer, Reporter, Trustnet 17 June 2021 Henderson EuroTrust, Miton UK Microcap and BlackRock Frontiers are just three of the investment trusts that are trading […]
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17 May 2021 1 min read
There is more to emerging markets than China
DIY Investor, 6 May 2021 James Carthew, head of investment trusts, QuotedData Markets are trying to get to grips with the long term effects of COVID-19 on the global economy, but the prognosis is hard to call. That has led to some volatility this year, which may be a feature of markets for a while […]
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03 Dec 2020 2 min read
Investment trust insider on emerging markets
Investment trust insider on emerging markets – James Carthew: Who to back in the emerging markets rally? The good news that we have had over the past few weeks on the US election and vaccines to tackle Covid-19 have helped drive a recovery in emerging markets investment trusts. Shares in JPMorgan Emerging Markets (JMG), Mobius (MMIT) […]
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02 Jun 2020 2 min read
Investment trust insider on emerging markets
Investment trust insider on emerging markets – James Carthew: there’s value in emerging markets as investors rush to take cover In uncertain times, it makes sense that investors turn to sectors with defensive earnings, such as utilities and infrastructure. Ecofin Global Utilities and Infrastructure (EGL), which I hold, is trading at asset value and issuing shares. […]
