| Fund Inception | 09/01/1989 |
| Name of Issuer | BlackRock |
| Fund Advisor(s) | BlackRock Advisors, LLC |
| Sub-Advisor(s) | BlackRock Asset Management North Asia Ltd BlackRock International Limited |
Fund Managers for MADCX
Gordon Fraser
Portfolio Manager since 03/29/2017
Gordon Fraser, CFA, Managing Director, is Co-Head of Global Emerging Markets Equities for BlackRock’s Fundamental Equity Group. Mr. Fraser is lead portfolio manager for the Core Global Emerging Markets strategy and co-manages the Emerging Frontiers Hedge Fund. Mr. Fraser is also named manager on the Emerging Markets Equity Strategies Fund. Mr. Fraser is platform lead for macroeconomic analysis.
He joined BlackRock as an Analyst in 2006.
Mr. Fraser earned a BA (1st class) and an MPhil (distinction) in Economics from Cambridge University in 2006. He is also a CFA Charterholder.
Kevin Jia
Portfolio Manager since 04/01/2020
Kevin Jia, Director, is a portfolio manager and research analyst on the Global Emerging Markets Equities Team within BlackRock’s Fundamental Equity Group. Mr Jia co-manages the Global Emerging Markets Core Strategy with Gordon Fraser. He is also a member of the North Asia Consumers and Communication Services research pod.
Prior to joining BlackRock in 2015, Mr. Jia was with KKR, based in Beijing, responsible for private equity investment due diligence and portfolio company management.
Mr. Jia earned a BA degree in Economics & Finance from Tsinghua University in 2013.
Emily Fletcher
Portfolio Manager since 04/25/2024
Emily Fletcher, CFA, Managing Director, is a portfolio manager and a research analyst on the Global Emerging Markets Equities Team within BlackRock’s Fundamental Equity Group. She is responsible for co-managing the BlackRock Frontier Investment Trust, the Emerging Frontier hedge fund, Emerging Markets Sustainable Equity and the Emerging Market Equity Income strategies.
Mrs. Fletcher joined the Emerging Markets team in 2008 and since then has covered African, ASEAN, Frontier and Latam equities and is based in London.
Prior to moving to her current role in 2008, Ms. Fletcher was a member of the Multi-Asset Portfolio Strategies (MAPS) group and the UK Equity team. She joined BlackRock as an Analyst in 2006.
Mrs. Fletcher earned a BA degree and an MSc degree in experimental and theoretical physics, both from the University of Cambridge in 2005 and 2006, respectively.
Egon Vavrek
Portfolio Manager since 04/16/2025
Egon Vavrek, Managing Director, is Head of the EM & Asia Core Team as a part of BlackRock's Fundamental Equity Global Emerging Markets Platform. Mr. Vavrek is lead PM for the Global Emerging Markets Core, Emerging Markets Equity Income, Emerging Markets Sustainable and Emerging Markets ex-China strategies. He is also responsible for the overall research process for the EM & Asia Core Team.
Mr. Vavrek joined BlackRock as a Managing Director on April 16, 2025. He joined BlackRock from Alma Capital Group, where he was an emerging market equity consultant. Before that, he was at APG Asset Management for 10 years and was most recently Hong Kong-based director and Head of the Global Emerging Markets team and a Portfolio Manager on internal Global Emerging Market Fundamental Equity product. Mr. Vavrek also sat on APG's ESG inclusion board and was a member of SASB/ISSB's Investor Advisory Group for 6 years. Prior to his time at APG, he was a Senior Portfolio Manager at LGT Capital Management/Partners for 5 years, where he launched and managed a 5-star Morningstar Emerging European and Middle East fund. He held previous roles at different emerging market boutique asset managers as analyst and portfolio manager.
Mr. Vavrek earned an MSc in International Securities, Investment and Banking at Henley Business School, ICMA Centre, UK in 2006, and a BSc in Economics at University of Szeged, Hungary in 2000. He also completed the IMD Leadership program in Lausanne in 2017.
