BlackRock Frontiers Investment Trust NAV increased by 27.9% since financial year end 7:31 am
BlackRock Frontiers Investment Trust plc (LON:BRFI) has announced its annual results for the year ended 30 September 2020.
OVERVIEW AND PERFORMANCE
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 UK Pounds Sterling. The Sterling amounts for performance returns shown below are presented for convenience. The difference in performance returns measured in US Dollars and UK Pounds Sterling reflects the movements in the exchange rate over the period.
126.85
2 (cents)
2 (pence)
93.30
4
5,6
6
4
4
5,6
6
4
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1 The change in net assets reflects shares issued/bought back in the year, dividends paid and market movements.
under the laws of Guernsey with registration number 45582
(the “Company”)
Corporate Update
It is now approximately twelve months since the completion of the corporate action in late 2019. Since that date, the Board of the Company has sought to implement the measures set out in the Company’s circular dated 8 October 2019 (the “
Circular”) to seek to address the discount to net asset value at which the Company’s shares trade. This includes a renewed buyback programme pursuant to which the Company has repurchased 1,629,532 ordinary shares representing circa 10.5% per cent. of the Company’s issued share capital, alongside improving shareholder communications through an updated website and revised newsletters.
under the laws of Guernsey with registration number 45582
(the “Company”)
Corporate Update
It is now approximately twelve months since the completion of the corporate action in late 2019. Since that date, the Board of the Company has sought to implement the measures set out in the Company’s circular dated 8 October 2019 (the “
Circular”) to seek to address the discount to net asset value at which the Company’s shares trade. This includes a renewed buyback programme pursuant to which the Company has repurchased 1,629,532 ordinary shares representing circa 10.5% per cent. of the Company’s issued share capital, alongside improving shareholder communications through an updated website and revised newsletters.
1 - The earnings per share of £3.44 relates to the six month period from 1 April 2020 to 30 September 2020 whereas loss per share of (£0.60) relates to the financial year from 1 April 2019 to 31 March 2020. I am pleased to report another excellent set of results for the period ended 30 September 2020. As was prefaced in the Chairman s statement accompanying the Annual Report, we had seen a substantial recovery from the lows of March, I am therefore pleased to report that the Net Asset Value per share rose by 39.20%. As you will see from the Manager s report set out below, there were notable successes during the period and encouragingly only two companies required support as a consequence of the effects of the Covid-19 crisis. This, once again, reflects the skills of the team at Harwood Capital led by Christopher Mills to invest in companies where they see opportunities for value creation through active manageme
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