BlackRock Frontiers Investment Trust PLC released its portfolio update as of February 28, 2026, highlighting strong performance across various metrics. The trusts net asset value (NAV) returned +0.7% in February, aligning with its benchmark, the MSCI Frontier + Emerging ex Selected Countries Index (+0.5%). Key markets like Thailand (+20.5%), Oman (+19.7%), and Kenya (+13.1%) drove gains, while Colombia (-12.2%) and Pakistan (-8.7%) underperformed. Top contributors included Kenyan banks KCB Group and Equity Group, Thai retailer CP All, and Philippine gaming company Digiplus. Detractors were led by IT services firm EPAM, Argentinian oil company YPF, and Saudi digital platform Derayah. Portfolio adjustments included increasing stakes in Kazakh fintech Kaspi and initiating Bank of the Philippine Islands, while exiting Ayala and LPP. The trust remains optimistic about smaller emerging and frontier markets, citing easing inflation, stable U.S. bond yields, and attractive valuations as supportive factors for future growth.
| Metric | 2025 | 2026 | Change |
|---|---|---|---|
| Total Assets (£m) | 326.6 | N/A | N/A |
| Net Asset Value (US Dollar, cum income) | 268.30c | 268.30c | 0.00% |
| Net Asset Value (Sterling, cum income) | 199.56p | 199.56p | 0.00% |
| Share Price (Sterling) | 206.00p | N/A | N/A |
| Premium to cum-income NAV (%) | 3.2% | N/A | N/A |
| Gearing | Nil | Nil | N/A |
| Net Yield (%) | 3.6% | N/A | N/A |
| Ongoing Charges (%) | 1.42% | N/A | N/A |
| Ongoing Charges + Taxation and Performance Fee (%) | 2.87% | N/A | N/A |
| Market Exposure - Long (%) | 110.9 (Dec 2025) | 121.3 (Feb 2026) | +9.36% |
| Market Exposure - Short (%) | 1.9 (Dec 2025) | 2.0 (Feb 2026) | +5.26% |
| Market Exposure - Gross (%) | 112.8 (Dec 2025) | 123.3 (Feb 2026) | +9.31% |
| Market Exposure - Net (%) | 109.0 (Dec 2025) | 119.3 (Feb 2026) | +9.45% |