Fiona Hamilton

Performance beats benchmark and dividend rises

BlackRock Greater Europe Investment Trust (BRGE) aims for capital growth through a concentrated portfolio of European companies, the majority of which have market capitalisations of more than €5 billion (£3.8 billion). BRGE’s annual report for the year to 31 August 2019 shows assets of £338 million.

Stefan Gries is co-manager of the trust along with Sam Vecht. They favour good-quality firms with strong management and healthy cash flows. The positioning of the portfolio in lower-yielding growth stocks has produced competitive NAV total returns.

Cash flow-driven investment approach pays off

BlackRock Income and Growth Investment Trust (BRIG) aims for growth in capital and income over the longer term from UK equities. Its report for the year to 31 October 2019 shows assets of £46.2 million.

Adam Avigdori has managed the trust since April 2012. David Goldman is co-manager. They invest on a bottom-up basis in their best ideas, while giving regard to ESG factors.

About 70% of the portfolio is in firms that are expected to sustain a high free cash flow and pay a growing yield while delivering a double-digit total return.

Dividend delight for adventurous portfolio

BlackRock Frontiers Investment Trust (BRFI) targets long-term capital growth from firms listed or mostly active in countries that are neither part of the MSCI World index of developed markets nor one of the eight largest countries by market capitalisation in the MSCI Emerging Markets index. Its accounts for the year to 30 September 2019 show shareholder assets of $411million (£313 million).* Issued share capital was 20% higher over the year.