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BlackRock Latin American beats benchmark

13 August 2015 08:04

BlackRock Latin American Investment Trust's net asset value decreased by 6.1% in July and the shares fell by 6.7% while the trust’s benchmark, the MSCI EM Latin America Free Index, declined by 7.6%. (all in sterling).

Positive contributions to performance stemmed primarily from stock selection in Brazil.

A larger than benchmark exposure to Mexico also contributed positively as Mexico outperformed in July despite negative returns.

At the stock level, a lack of exposure to Petrobras benefited the portfolio as the energy sector led losses on the back of lower oil prices.

Weighing on performance was the trust's lower than benchmark exposure to Chile as the country benefited from President Bachelet’s moderating tone on market-unfriendly reforms. Peruvian gold/copper miner Buenaventura weighed on returns as the stock suffered along with the fall in commodity prices.

At 8:04am: (LON:BRLA) BlackRock Latin Am share price was +4p at 316.5p

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