BlackRock Frontiers Investment Trust plc(LEI: 5493003K5E043LHLO706)

 

SUBMISSION OF DOCUMENTS: Annual Report and Financial Statements for the year ended 30 September 2024

 

Copies of the following documents have been submitted to the National Storage Mechanism:

 

- Annual Report for year ended 30 September 2024

- Form of Proxy relating to the Company’s Annual General Meeting These documents will shortly be available for inspection at:

 

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

 

The Annual Report and Financial Statements for the year ended 30 September 2024 may also be viewed at:

 

www.blackrock.com/uk/brfi

20 December 2024

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 19 December 2024 were:

202.49c Capital only USD (cents) 161.38p Capital only Sterling (pence)209.31c Including current year income USD (cents)166.82p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 18 December 2024 were:

205.04c Capital only USD (cents) 161.57p Capital only Sterling (pence)211.87c Including current year income USD (cents)166.95p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 17 December 2024 were:

207.15c Capital only USD (cents)  162.98p Capital only Sterling (pence) 213.98c Including current year income USD (cents) 168.36p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

BLACKROCK FRONTIERS INVESTMENT TRUST PLC (LEI: 5493003K5E043LHLO706)

 

All information is at 30 November 2024 and unaudited.

Performance at month end with net income reinvested.

 

 

One month %

Three months %

One year %

Three years %

Five years %

Since  Launch* %

Sterling:

 

 

 

 

 

 

Share price

3.1

2.7

11.7

30.9

45.0

150.1

Net asset value

2.2

4.0

 12.8

32.8

58.2

179.3

Benchmark (NR)**

-1.0

-0.3

6.9

12.1

17.1

88.3

MSCI Frontiers Index (NR)

0.4

2.6

12.1

-5.1

15.8

84.9

MSCI Emerging Markets Index (NR)

-2.5

1.6

11.4

0.2

 

19.1

67.1

 

 

 

 

 

 

 

US Dollars:

 

 

 

 

 

 

Share price

1.9

-0.6

12.2

25.9

42.6

104.9

Net asset value

1.0

0.6

13.3

27.7

55.5

128.4

Benchmark (NR)**

-2.2

-3.6

7.4

7.7

15.1

54.7

MSCI Frontiers Index (NR)

-0.8

-0.8

12.5

-8.9

13.8

50.8

MSCI Emerging Markets Index (NR)

-3.6

-1.7

11.9

-3.7

17.1

36.3

 

Sources: BlackRock and Standard & Poor’s Micropal

* 17 December 2010.

** The Company’s benchmark changed from MSCI Frontier Markets Index to MSCI Emerging ex Selected Countries + Frontier Markets + Saudi Arabia Index (net total return, USD) effective 1/4/2018. 

At month end

 

US Dollar

 

Net asset value - capital only:

203.38c

Net asset value - cum income:

210.48c

Sterling:

 

Net asset value - capital only:

160.02p

Net asset value - cum income:

165.61p

Share price:

149.50p

Total assets (including income):

£313.5m

Discount to cum-income NAV:

9.7%

Gearing:

Nil

Gearing range (as a % of gross assets):

0-20%

Net yield*:

4.4%

Ordinary shares in issue**:

189,300,748

Ongoing charges***:

1.38%

Ongoing charges plus taxation and performance fee****:

3.78%

 

*The Company’s yield based on dividends announced in the last 12 months as at the date of the release of this announcement is 4.4%, and includes the 2023 final dividend of 4.90 cents per share, declared on 30 November 2023, and paid to shareholders on 14 February 2024, and the 2024 interim dividend of 3.50 cents per share, declared on 31 May 2024, and paid to shareholders on 01 July 2024.

** Excluding 52,522,053 ordinary shares held in treasury.

***The Company’s ongoing charges are calculated as a percentage of average daily net assets and using the management fee and all other operating expenses excluding performance fees, finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain non-recurring items for Year ended 30 September 2023.

**** The Company’s ongoing charges are calculated as a percentage of average daily net assets and using the management fee and all other operating expenses and including performance fees but excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain non-recurring items for Year ended 30 September 2023.

 

Sector Analysis

Gross market value as a % of net assets

 

Country Analysis

Gross market value as a % of net assets

 

 

 

 

 

Financials

43.2

 

Indonesia

14.1

Industrials

12.2

 

United Arab Emirates

10.8

Real Estate

12.1

 

Saudi Arabia

10.6

Materials

8.8

 

Poland

9.1

Consumer Discretionary

8.1

 

Kazakhstan

6.8

Communication Services

7.4

 

Philippines

6.1

Information Technology

7.2

 

Hungary

5.7

Consumer Staples

6.9

 

Turkey

5.4

Energy

2.3

 

Pakistan

5.2

Health Care

1.4

 

Vietnam

4.4

 

-----

 

Multi-International

4.3

 

109.6

 

Kenya

3.7

 

-----

 

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 16 December 2024 were:

207.32c Capital only USD (cents)  163.37p Capital only Sterling (pence) 214.16c Including current year income USD (cents) 168.76p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 13 December 2024 were:

206.86c Capital only USD (cents)  164.02p Capital only Sterling (pence) 213.69c Including current year income USD (cents) 169.44p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 12 December 2024 were:

208.26c Capital only USD (cents) 164.11p Capital only Sterling (pence)215.10c Including current year income USD (cents)169.50p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 11 December 2024 were:

209.13c Capital only USD (cents) 164.13p Capital only Sterling (pence)215.86c Including current year income USD (cents)169.41p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706

The unaudited net asset values for BlackRock Frontiers Investment Trust PLC at close of business on 10 December 2024 were:

208.78c Capital only USD (cents) 163.89p Capital only Sterling (pence)215.51c Including current year income USD (cents)169.18p Including current year income Sterling (pence)

Notes:

1.        Investments have been valued on a bid price basis.

2.        Revenue items included in net asset value, with dividends payable deducted on the ex-dividend date.

3.       Following the buyback of 30,500 Ordinary shares on 9th December 2024, the Company has 189,270,248 Ordinary Shares in issue, excluding 52,552,553 shares held in Treasury.