BlackRock Sustainable American Income Trust Plc - Portfolio Update
All information is at 31 March
2024
and unaudited.
Performance at month end with net income reinvested
One Month Three Months Six Months One Year Three Years Five Years Net asset 4.9 8.7 14.7 16.7 31.2 61.2 value Share price 7.9 5.7 10.9 12.7 19.2 45.4 Russell 1000 5.1 10.0 15.3 17.7 38.0 68.5 Value Index
At month end
Net asset value - capital only: 223.33p Net asset value - cum income: 223.40p Share price: 198.75p Discount to cum income NAV: 11.0% Net yield1: 4.0% Total assets including current year revenue: £174.3m Net gearing: 1.3% Ordinary shares in issue2: 78,011,399 Ongoing charges3: 1.03%
1
Based on three quarterly dividends of 2.00p per share declared on
2 Excluding 22,349,906 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 20.4 Health Care 18.8 Information Technology 16.2 Consumer Discretionary 9.3 Industrials 8.0 Energy 7.3 Consumer Staples 6.5 Communication Services 5.2 Materials 4.2 Utilities 3.7 Real Estate 1.6 Net Current Liabilities -1.2 ----- 100.0 =====
Country Analysis Total Assets (%)United States 90.2United Kingdom 5.2France 2.0South Korea 1.5Australia 1.2Switzerland 1.1 Net Current Liabilities -1.2 ----- 100.0 =====
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Top 10 Holdings Country % Total Assets Citigroup United States 3.6 American International United States 3.0 Shell United Kingdom 2.6 Kraft Heinz United States 2.5 Cardinal Health United States 2.5 Baxter International United States 2.4 Johnson Controls International United States 2.4 Cisco Systems United States 2.4 Verizon Communications United States 2.4 Fidelity National Information Services United States 2.3
For the one-month period ended
The largest contributor to relative performance stemmed from stock selection in industrials, with investment decisions in building products boosting relative performance. Selection decisions in health care also boosted relative performance, most notably in health care equipment and supplies. Other modest contributors during the period at the sector level included selection decisions in consumer discretionary and information technology.
The largest detractor from relative performance stemmed from stock selection in energy, most notably in oil, gas and consumable fuels. Selection decisions in consumer staples detracted from relative performance, with stock selection in consumer staples distribution and retail proving to be detrimental. Other modest detractors during the period included stock selection in utilities, with the cash position also weighing down relative performance.
Transactions
During the month, the Company’s largest purchases included WPP. The Company exited its position in Acuity Brands.
Positioning
As of the period end, the Company’s largest overweight positions relative to the reference index were in the health care, information technology and consumer discretionary sectors. The Company’s largest underweight positions relative to the reference index were in the industrials, real estate and utilities sectors.
Source: BlackRock.
Latest information is available by typing blackrock.com/uk/brsa 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