BLACKROCK ENERGY AND RESOURCES INCOME TRUST plc
(LEI:54930040ALEAVPMMDC31)
All information is at 31 May 2026 and unaudited.
Performance at month end with net income reinvested
One Three Six One Three Five
Month Months Months Year Years Years
Net asset 1.5% 4.2% 26.8% 73.9% 84.8% 142.6%
value
34.9%
Share price 4.2% 4.0% 85.9% 99.6% 134.3%
Sources: Datastream, BlackRock
At month end
Net asset value – capital only: 204.16p
Net asset value cum income 1 : 204.97p
Share price: 199.00p
Discount to NAV (cum income): 2.9%
Net yield: 2.9%
Net Gearing - cum income: 4.8%
Total assets: £207.2m
Ordinary shares in issue 2 : 101,076,997
Gearing range (as a % of net assets): 0-20%
Ongoing charges 3 : 1.15%
1 Includes net revenue of 0.81p.
2 Excluding 34,509,197 ordinary shares held in treasury.
3 The Company’s ongoing charges are 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 other non-recurring items for the year
ended 30 November 2025. In addition, the Company’s Manager has also agreed to
cap ongoing charges by rebating a portion of the management fee to the extent
that the Company’s ongoing charges exceed 1.15% of average net assets.
Sector Overview
Mining 36.5%
Energy Transition 32.5%
Traditional Energy 30.4%
Other 0.6%
Net Current Liabilities –%
-----
100.0%
=====
Sector Analysis % Total Assets^ Country Analysis % Total Assets^
Mining: Global 52.4
Diversified 22.9 United States 12.5
Gold 5.2 Latin America 6.3
Copper 4.6 Canada 5.7
Industrial Minerals 2.0 North America 5.3
Steel 0.7 France 2.7
Aluminium 0.6 Italy 2.7
Platinum Group Metals 0.5 Germany 2.3
Subtotal Mining: 36.5 United Kingdom 1.9
China 1.8
Energy Transition: Europe 1.8
Renewables 11.0 Spain 1.6
Electrification 9.9 Australia 1.2
Storage 6.8 Ireland 1.0
Energy Efficiency 4.8 South Africa 0.5
Subtotal Energy 32.5 Other Africa 0.3
Transition:
Traditional Energy: Net Current –
Liabilities^
Integrated 13.0 -----
Oil Services 8.7 100.0
E&P 4.9 =====
Distribution 2.3
Refining & Marketing 1.5
Subtotal Traditional 30.4
Energy:
Other:
Other 0.6
Subtotal Other: 0.6
Net Current Liabilities^ –
-----
100.0
=====
^ Total Assets for the purposes of these calculations exclude bank overdrafts,
and the net current assets figure shown in the tables above therefore exclude
bank overdrafts equivalent to 4.9% of the Company’s net asset value.
Ten Largest Investments
Company Region of Risk % Total Assets
Glencore Global 5.7
Anglo American Global 4.9
Vale - ADS Latin America 4.7
Abaxx Technologies Global 4.5
Chevron Corporation Global 4.3
Shell Global 3.6
TotalEnergies Global 3.2
Prysmian SpA Italy 2.7
Nextpower United States 2.5
EDP Renovaveis Global 2.5
Commenting on the markets, Tom Holl and Mark Hume, representing the Investment
Manager noted:
Performance across the Company’s underlying components remained mixed in May.
The energy transition and mining segments generated positive returns, while
conventional energy declined.
Conventional energy equities came under pressure as Brent crude fell by 19.4%,
reflecting increased expectations of a resolution to the US–Israel conflict
with Iran. However, there was no meaningful change in conditions around the
Strait of Hormuz, with shipping still severely constrained by month-end.
Within the energy transition allocation, the renewables sub-sector was the most
significant contributor to performance. Ongoing energy security concerns,
alongside rising expectations for global power demand, partly driven by
artificial intelligence, supported momentum in the space. Several solar
companies also reported strong earnings during the month, benefiting from
robust utility-scale demand.
In mining, copper and aluminium holdings led performance, supported by supply
constraints, with prices of the metals rising by 4.6% and 2.8%, respectively.
Figures sourced from Datastream; prices quoted in US dollar terms unless
specified otherwise as at 31 May 2026.
18 June 2026
ENDS
Latest information is available by typing www.blackrock.com/uk/beri 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.
Release
