Trust Issues: Investing in frontier markets with BRFI’s Emily Fletcher

In this episode of Trust Issues, we speak to Emily Fletcher, manager of BlackRock Frontiers, about the investment case for frontier and emerging markets, including recent performance, portfolio allocations, navigating through geopolitical issue and the most exciting opportunities across the sector.

00:00 Introduction 00:38 How BRFI differs from other funds 02:24 What BRFI offers investors  03:52 Sourcing opportunities 05:37 Navigating geopolitical risk 11:44 Managing liquidity  13:06 Thoughts on performance 15:17 Income generation 16:51 Case for Saudi Arabia and the UAE 20:05 Balance of export v domestic growth 21:38 Exposure to smaller markets 23:38 Thoughts on current valuations 24:38 Key drivers over next year 25:28 Further information 25:46 Risk warning

Our latest note on BRFI - https://www.trustintelligence.co.uk/investor/articles?fund_id=12 

BRFI website - https://www.blackrock.com/uk/solutions/investment-trusts/our-range/blackrock-frontiers-investment-trust/trust-information 

Please note that this podcast was recorded on 14 January 2026.