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Data as at: 08/05/2026
In
Objective
To achieve long-term capital growth by investing in companies domiciled or listed in, or exercising the predominant part of their economic activity in, less developed countries.
AIC sector
Management group
Company website
Launch date
17/12/2010
September
Domicile
United Kingdom
Fund manager
Sam Vecht, Emily Fletcher
Dividend frequency
Semi-Annually
Wind-up provisions
The Company does not have a fixed life, however before the Company's fifth AGM, and at subsequent five yearly intervals, the Board will formulate proposals for Shareholders to realise the value of their ordinary shares at NAV less costs. The next opportunity to do so will take place in 2031
Continuation vote
5 yearly
| Market Cap (m) | Total assets (m) | Price (last close) | NAV | Discount / premium (%) | Gearing (%) | Dividend yield (%) | Dividend dates | Ongoing charge (%) |
|---|---|---|---|---|---|---|---|---|
| 312.34 | 379.60 | 190.00 | 185.97 | 2.17 | 5 | 3.93 | May, Dec | 1.42 (30/09/2025) |
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Dividends
Dividends declared in last 12 months
| Ex-dividend date | Payment date | Dividend amount | Special dividend | Financial year |
|---|---|---|---|---|
| 02/01/2026 | 26/02/2026 | 4.767 | No | 2025 |
| 05/06/2025 | 24/06/2025 | 2.707 | No | 2025 |
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Performance (%)
| Return type | 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|---|
| BlackRock Frontiers | Share price total return | 28.9 | 60.3 | 92.2 | 166.5 |
| Global Emerging Markets AIC sector | Share price total return | 67.4 | 100.4 | 56.9 | 251.4 |
| Morningstar Emerging Markets * | Total return | 46.9 | 70.3 | 52.8 | 199.4 |
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* The Morningstar market index is not necessarily the official benchmark of the investment trust, but it has been identified as an appropriate comparative index. Please hover over the definition for further detail on the index construction.
Share structure
Number of shares
164,391,520
77,431,281
Traded volumes (number of shares)
| Yesterday | 1 month | 1 year | 5 years | |
|---|---|---|---|---|
| Total | 177,066 | 5,987,962 | 119,621,433 | 390,242,031 |
| Average | N/A | 285,141 | 472,812 | 309,225 |
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Traded values (m)
| Yesterday | 1 month | 1 year | 5 years | |
|---|---|---|---|---|
| Total | 0.34 | 11.51 | 211.86 | 582.75 |
| Average | N/A | 0.55 | 0.84 | 0.46 |
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Trading details
| ISIN | Ticker | Traded currency | Stock exchange |
|---|---|---|---|
| GB00B3SXM832 | BRFI | GBX | London Stock Exchange - MAIN Chi-x Europe Limited London Stock Exchange |
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Top holdings
Data as at : 31/12/2025
| Investment | % of total assets |
|---|---|
| PT Bank Mandiri (Persero) Tbk | 4.9 |
| Bank Polska Kasa Opieki SA | 4.0 |
| LPP SA | 3.6 |
| OTP Bank PLC | 3.4 |
| Etihad Etisalat Co JSC | 3.4 |
| Halyk Bank of Kazakhstan JSC Shs Sponsored Global Deposit Rec Repr 40 Shs R | 3.4 |
| Emaar Properties PJSC | 3.3 |
| TBC Bank Group PLC | 3.2 |
| Lucky Cement Ltd | 3.1 |
| Rasan Information Technology Co | 3.0 |
Data provided by Morningstar.
Company documents provided by FE fundinfo.
