Annual report summaries

Brazil and small caps focus good for earnings prospects - annual report summary

BlackRock Latin American Investment Trust (BRLA) targets long-term capital growth by investing primarily in quoted securities in Latin America. In the year to 31 December 2017 it reports shareholders’ funds of US$280 million (£197 million). Will Landers has managed BRLA since March 2006. He favours mispriced/undervalued companies with proven management, good governance, good medium-term earnings prospects, plus strong balance sheets and cash flows. Investment decisions also incorporate a macroeconomic overview.

Clever use of "shorting" boosts gains for UK small-cap trust

January 16, 2018

BlackRock Throgmorton Trust (THRG) invests in UK mid-sized and smaller companies, primarily for capital growth. Its report and accounts for the year to 30 November 2016 show shareholders’ assets of £301 million. The trust deploys a long-only portfolio of UK equities alongside a portfolio of contracts for difference (CFD) representing around 30 per cent of net assets.