BlackRock Sees Attractive Frontier Markets as Fund Gains 33% - Bloomberg

BlackRock Sees Attractive Frontier Markets as Fund Gains 33% - Bloomberg:



"BlackRock Frontiers Investment Trust Plc (BRFI), a $297 million frontier markets equity fund which returned 33 percent in 2013, expects attractive investment opportunities this year including a surge in initial public offerings.



While the performance of frontier markets has been “relatively strong” over the past three years and more, this has mainly been driven by earnings growth rather than an expansion in valuation multiples, investment managers Sam Vecht and Emily Fletcher said in a regulatory filing. Frontier markets are “no more expensive now than they were just over three years ago” and the fund continues to find “attractive” investment opportunities across various countries, they said.



The jump in net asset values in pounds compares with a 19 percent gain in the MSCI Frontiers Index, data compiled by Bloomberg show. The United Arab Emirates, the second-biggest Arab economy, overtook Nigeria as the fund’s biggest investment destination."



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