Shareholders effectively vote to wind up BlackRock Emerging Europe


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A majority of shareholders vote to tender stock leading to the demise of a trust that has substantially outperformed its benchmark. BlackRock Emerging Europe (LON:BEEP) Investment Trust, a £122 million trust that invests in Easter Europe including Turkey and Russia, is set to wind up following a tender offer, which is an invitation for shareholders…


That is a shame, Sam Vecht is a great fund manager. I was a shareholder in this a couple of years ago and had been considering investing again because Russia is pretty cheap and Russia and Turkey make up the bulk of the portfolio.

If they find a way of keeping the trust afloat I might still invest, though I suppose it’s unlikely they will.


I like Vecht’s BlackRock Frontier markets but this trust has always seemed like too dodgy an investment proposition to be necessary.


A while back the trust was fully of oil companies. As i was underweight on energy i bought in. not sure if the manager thought oil was going to do well or there was nothing worth buying in eastern europe and russia. it was a contrarian play at the time because of averse political climate and the disruption from fracking.