BlackRock 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 -2.6 4.9 10.8 18.7 37.2 54.1
Share price -2.9 4.6 13.7 27.6 47.6 56.2
Russell 1000 Value Index -3.0 4.1 8.2 13.4 40.0 64.2
Russell 1000 Value Index (Net 61.6
15% WHT Total Return)* -3.0 4.1 8.0 13.1 38.7
*The Company’s performance reference index (the Russell 1000 Value Index) may be calculated on either a gross or a net return basis. Net return (NR) indices calculate the reinvestment of dividends net of withholding taxes using the tax rates applicable to non-resident institutional investors and hence give a lower total return than indices where calculations are done on a gross basis. As the Company is subject to the same withholding tax rates for the countries in which it invests, the NR basis is felt to be the most accurate, appropriate, consistent and fair comparison of performance returns for the Company.
At month end
Net asset value - capital only: 237.98p Net asset value - cum income: 238.20p Share price: 235.00p Discount to cum income NAV: 1.3% Net yield 1 : 5.6% Total assets including current year revenue: £134.4mNet Gearing : Nil Ordinary shares in issue 2 : 56,412,138 Ongoing charges 3 : 0.73%
1
Based on
one quarterly dividend of 3.03p per share declared on
² Excluding 38,949,167 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 20.3 Industrials 14.4 Information Technology 13.2 Health Care 11.8 Consumer Discretionary 8.4 Energy 7.2Communication Services 7.1 Consumer Staples 7.0 Materials 4.1 Utilities 3.2 Real Estate 2.8 Net Current Assets 0.5 ----- 100.0 ===== Country Analysis Total Assets (%)United States 99.5 Net Current Assets 0.5 ---- 100.0 =====
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Top 10 Holdings Country % Total Assets Alphabet United States 4.1 Berkshire Hathaway United States 2.7 JPMorgan Chase United States 2.7 Amazon United States 2.5 Chevron United States 2.3 Procter & Gamble United States 2.0 Bank Of America United States 2.0 Exxon Mobil United States 2.0 Morgan Stanley United States 1.7 Micron TechnologyUnited States 1.6
For the month ended
March saw fresh US / Israeli led military action against
Positions in the materials sector were the top contributors from a sector perspective, helped by an overweight in chemicals firm Lyondellbasell, which benefitted from being based in the US as there were severe disruptions to supplies from the
Both quality and value signals, as well as insights that focus on momentum in fundamentals contributed to performance – despite the somewhat chaotic geopolitical situation, the stock market appeared to actually be quite focused on fundamentals, while sentiment and macro signals experienced flatter performance. In terms of specific signals, using Large Language Models to identify market themes and the stocks exposed to them proved highly effective in identifying winners and losers from the conflict-driven oil price rise. However, some consumer-oriented insights that track metrics such as online sales and internet search activity struggled as markets focused more on the macro situation.
Latest information is available by typing blackrock.com/uk/brai on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.
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