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Given the delay in vaccination rollout, many frontier and emerging countries are now just starting to see the acceleration in economic activity which more developed countries have been enjoying through 2021. September saw our benchmark extend its YTD outperformance over Emerging Markets. For reference, the MSCI Emerging Markets Index ended the period +18.2% while MSCI Frontier Markets was up 32.2% over this period (all performance figures are on a US Dollar basis with net income reinvested). Over the twelve months ended 30 September 2021, the Company returned +53.0%, while its Benchmark Index returned +27.3%. For reference, the MSCI Emerging Markets Index ended the month -4.0% and the MSCI Frontier Markets Index +1.2% over the same period. The Company’s NAV returned 0.0% versus its benchmark the MSCI Emerging ex Selected Countries + Frontier Markets + Saudi Arabia Index (“Benchmark Index”), which returned -1.1% in September. *reflects gross market exposure from contracts for difference (CFDs).Ĭommenting on the markets, Sam Vecht and Emily Fletcher, representing the Investment Manager noted: ***Calculated as a percentage of average net assets and using expenses, excluding Performance fees and interest costs for the year ended 30 September 2020. ** Excluding 52,497,053 ordinary shares held in treasury. Also included is the 2021 interim dividend of 2.75 cents per share, announced on 01 June 2021 and paid to shareholders on 25 June 2021. *The Company’s yield based on dividends announced in the last 12 months as at the date of the release of this announcement is 3.4% and includes the 2020 final dividend of 4.25 cents per share declared on 11 December 2020 which paid on 12 February 2021. Ongoing charges plus taxation and performance fee: ** The Company’s benchmark changed from MSCI Frontier Markets Index to MSCI Emerging ex Selected Countries + Frontier Markets + Saudi Arabia Index (net total return, USD) effective. Sources: BlackRock and Standard & Poor’s Micropal Performance at month end with net income reinvested. You can discover more about the BlackRock Frontiers Investment Trust at /uk/brfi BlackRock Frontiers Investment Trust plc ( LON:BRFI) has announced its latest portfolio update.Īll information is at 30 September 2021 and unaudited.