London, UK, 13 November 2023

Edison issues review on BlackRock Latin American IT (BRLA): Last man standing – committed to the region

BlackRock Latin American Investment Trust (BRLA) has two managers, Sam Vecht (lead) and Christoph Brinkmann (deputy). They highlight that Latin America has been overlooked by investors and the trust is now the only fund in the AIC Latin America sector. The managers are finding interesting opportunities in the region in their search for companies offering a niche product or service, which have long-term growth potential and are reasonably priced. BRLA offers a broad exposure to Latin America, with around 60% of the fund invested in Brazil, the largest country in the region. The Brazilian central bank was proactive in raising interest rates to combat higher inflation, real interest rates remain relatively high and the economy should benefit now that interest rates are coming down.

BRLA has an attractive 5.6% dividend yield, based on the level of quarter-end NAVs rather than portfolio income, meaning that yield considerations do not interfere with stock selection. The trust is also attractively valued as its 14.8% discount is wider than its historical averages, with scope to narrow if there is an improvement in investor sentiment or the fund’s performance.

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