28th Mar 2019 14:21
LONDON (Alliance News) - BlackRock Latin American Investment Trust PLC on Thursday said it outperformed its benchmark in 2018 despite a decline in net asset value.
The company reported NAV per share of 650.15 US cents at December 31 compared to 710.17 cents at the end of 2017, a decrease of 8.5%.
The share price at the end of the year stood at 557.20 cents, representing 14% discount to NAV. The stock was trading 1.1% higher on Thursday at 450.34p a share in London.
BlackRock Latin American said its NAV total return in 2018 was negative a 5.4%, while its benchmark, the the MSCI EM Latin America Index, returned a negative 6.6%.
The company has paid interim dividends totalling 23.55 cents per share in 2018.
"Our portfolio managers are positive about the prospects for Brazil, which remains the portfolio's largest overweight country position," said Chair Carolan Dobson.
"The portfolio managers have also recently added to Mexico on a selective basis," Dobson continued. "The portfolio managers have a positive view on Argentina, where the sell-off in 2018 has left stocks trading at attractive valuations with some interesting investment opportunities."
Related Shares:
Blackrock Lat A