Insightful stock selections are generating strong returns

Share selection is based on political and macroeconomic insights, and on bottom-up company analysis assisted by BlackRock’s well-resourced research team.

BlackRock Emerging Europe (BEEP) seeks long-term capital growth by investing in companies doing business primarily in eastern Europe, Russia, central Asia and Turkey. Its shares are quoted in sterling, but its accounts are presented in US dollars. Its report for the year to 31 January 2018 shows shareholders’ assets of £145 million*. Sam Vecht has managed BEEP since May 2009, with Chris Colunga as co-manager since March 2016. The portfolio holds 20 to 30 high conviction holdings and derivatives are used for hedging and investment purposes.

Share selection is based on political and macroeconomic insights, and on bottom-up company analysis assisted by BlackRock’s well-resourced research team. BEEP’s NAV and share price total returns last year were 19.9 per cent* and 30.9 per cent* respectively, comfortably exceeding the 14.9 per cent* gain from its benchmark, the MSCI Emerging Europe 10_40 index. Over _ ve years the trust’s NAV total returns rank third in the 40-strong Morningstar peer group of funds investing in emerging Europe equities. The dollar-denominated dividend was doubled to $0.15 . Ongoing charges were trimmed to 1.1 per cent. A tender is being finalised for holders to realise their shares at close to NAV this summer.  

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