BlackRock Frontiers Investment Trust plc (LON:BRFI) has announced its annual results announcement for the year ended 30 September 2023.
Performance record
The Company’s financial statements are presented in US Dollars. The Company’s shares are listed on the London Stock Exchange and quoted in British Pound Sterling. The British Pound Sterling amounts for performance returns shown below are presented for convenience. The difference in performance returns measured in US Dollars and in British Pound Sterling reflects the change in the value of British Pound Sterling versus the US Dollar over the period.
As at 30 September 2023 | As at 30 September 2022 | | |
US Dollar | |||
Net assets (US$’000)1 | 363,598 | 302,656 | |
Net asset value per ordinary share (cents) | 192.05 | 159.86 | |
Ordinary share price (mid-market)2 (cents) | 175.76 | 142.61 | |
————— | ————— | ||
British Pound Sterling | |||
Net assets (£’000)1,2 | 297,897 | 271,124 | |
Net asset value per ordinary share2 (pence) | 157.35 | 143.21 | |
Ordinary share price (mid-market) (pence) | 144.00 | 127.75 | |
Discount3 | 8.5% | 10.8% | |
========= | ========= |
Performance | For the year ended 30 September 2023 % | For the year ended 30 September 2022 % | Since inception4 % |
US Dollar | |||
Net asset value per share (with dividends reinvested)3 | +25.1 | -10.9 | +100.0 |
Benchmark Index (NR)5,6 | +5.0 | -7.3 | +42.1 |
MSCI Frontier Markets Index (NR)6 | +6.5 | -25.2 | +32.8 |
MSCI Emerging Markets Index (NR)6 | +11.7 | -28.1 | +17.3 |
Ordinary share price (with dividends reinvested)3 | +28.8 | -10.0 | +81.1 |
————— | ————— | ————— | |
British Pound Sterling | |||
Net asset value per share (with dividends reinvested)3 | +14.3 | +7.7 | +154.6 |
Benchmark Index (NR)5,6 | -3.9 | +12.0 | +80.1 |
MSCI Frontier Markets Index (NR)6 | -2.6 | -9.6 | +69.6 |
MSCI Emerging Markets Index (NR)6 | +2.2 | -13.2 | +49.9 |
Ordinary share price (with dividends reinvested)3 | +17.7 | +8.7 | +130.2 |
========= | ========= | ========= |
1 The change in net assets reflects dividends paid and portfolio movements during the year.
2 Based on an exchange rate of US$1.2206 to £1 at 30 September 2023 and US$1.1163 to £1 at 30 September 2022.
3 Alternative Performance Measures, see Glossary in the Company’s Annual Report for the year ended 30 September 2023.
4 The Company was incorporated on 15 October 2010 and its shares were admitted to trading on the London Stock Exchange on 17 December 2010.
5 With effect from 1 April 2018, the Benchmark Index changed to the MSCI Emerging Markets Index ex Selected Countries + MSCI Frontier Markets Index + MSCI Saudi Arabia Index. Prior to 1 April 2018, the Benchmark Index was the MSCI Frontier Markets Index. The performance returns of the Benchmark Index since inception have been blended to reflect this change.
6 Net return (NR) indices calculate the reinvestment of dividends net of withholding taxes.
Sources: BlackRock and Datastream.
You can discover more about the BlackRock Frontiers Investment Trust at blackrock.com/uk/brfi