BlackRock Sustainable American Income Trust Plc - Portfolio Update
All information is at
Performance at month end with net income reinvested
One Three Six One Three Five Years Month Months Months Year Years Net asset value -2.2 5.3 15.0 13.6 23.9 51.9 Share price -0.6 7.0 15.9 6.5 12.8 35.3 Russell 1000 Value Index -3.4 6.0 14.8 13.9 28.6 57.2
At month end
Net asset value - capital only: 218.15p Net asset value - cum income: 218.39p Share price: 197.50p Discount to cum income NAV: 9.6% Net yield1: 4.1% Total assets including current year revenue: £168.3m Net gearing: 0.3% Ordinary shares in issue2: 77,076,813 Ongoing charges3: 1.03%
1
Based on three quarterly dividends of 2.00p per share declared on
² Excluding 23,284,492 ordinary shares held in treasury.
³ The Company’s ongoing charges calculated as a percentage of average daily net assets and using the management fee and all other operating expenses excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain non-recurring items for the year ended
Sector Analysis Total Assets (%) Financials 19.6 Health Care 17.3 Information Technology 13.6 Consumer Discretionary 10.4 Industrials 8.2 Energy 7.5 Communication Services 6.9 Consumer Staples 5.5 Utilities 5.4 Materials 4.1 Real Estate 1.7 Net Current Liabilities -0.2 ----- 100.0 ===== Country Analysis Total Assets (%)United States 88.6United Kingdom 5.6France 2.1South Korea 1.7Australia 1.2Switzerland 1.0 Net Current Liabilities -0.2 ----- 100.0 =====
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Top 10 Holdings Country % Total Assets Citigroup United States 3.4 Shell United Kingdom 2.9 American International United States 2.9 Kraft Heinz United States2.7 Dollar Tree United States 2.6 Johnson Controls International United States 2.5 Baxter International United States 2.4 Cardinal Health United States 2.3 Hasbro United States 2.2 Verizon Communications United States 2.2
For the one-month period ended
The largest contributor to relative performance, stemmed from stock selection in consumer discretionary, with selection decisions in leisure products boosting relative performance. Selection decisions in information technology also boosted relative performance, with stock selection and allocation decisions in semiconductors and semiconductor equipment particularly beneficial to relative performance. Other modest contributors during the period at the sector level included selection decisions in health care and financials.
The largest detractor from relative performance stemmed from stock selection in consumer staples, most notably in consumer staples distribution and retail. Allocation decisions in utilities modestly detracted from relative performance, with an underweight allocation in electric utilities dragging on relative performance. Other modest detractors during the period included stock selection in materials and an underweight allocation to industrials weighing down relative performance.
Transactions
During the month, the Company’s largest purchases included Electronic Arts, Sempra and HP. The Company exited its positions in Zebra Technologies,
Positioning
As of the period end, the Company’s largest overweight positions relative to the reference index were in the health care, consumer discretionary and communication services sectors. The Company’s largest underweight positions relative to the reference index were in the industrials, real estate and financials sectors.
Source: BlackRock.
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