Review: Recovery potential despite commodity slowdown
The BlackRock Latin American Investment Trust (BRLA) is a regional specialist offering diversified exposure to companies in Central and South America, with a significant weighting to Brazil and Mexico (c 90%). Although a stock-picking fund with a focus on valuation, BRLA’s manager acknowledges the importance of macroeconomic factors: the Brazilian election is a key swing factor in the near term, and the resource-rich region also faces an adjustment as slower growth in China dents demand for commodities. The trust currently yields an attractive 3.8%, boosted by writing covered call options on some holdings. LatAm markets have re-rated since the start of 2014 and BRLA’s wider-than-average discount may present an attractive entry point for those who feel this will continue.BlackRock Latin American Investment Trust is an investment trust company. Co. invests in quoted securities in Latin America. Co. invests across a range of sectors, including consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, telecommunications services, utilities, and fixed income. BlackRock Fund Managers Limited has been appointed as Co.'s Alternative Fund Manager while BlackRock Investment Management (UK) Limited acts as Co.'s Investment Manager.
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