Shareholders effectively vote to wind up BlackRock Emerging Europe


#1

Originally published at: https://whichinvestmenttrust.com/shareholders-effectively-vote-to-wind-up-blackrock-emerging-europe/

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…


#2

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.


#3

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


#4

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.