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 1.4 4.0 12.6 18.7 25.6 57.3
Share price 0.5 7.8 10.8 12.9 18.5 38.7
Russell 1000 Value Index 1.5 3.0 13.0 18.5 30.9 64.9
At month end
Net asset value - capital only: 220.78p Net asset value - cum income: 221.49p Share price: 198.50p Discount to cum income NAV: 10.4% Net yield1: 4.0% Total assets including current year revenue: £168.8m Net gearing: 0.6% Ordinary shares in issue2: 76,199,781 Ongoing charges3: 1.03%
1
Based on two quarterly dividends of 2.00p per share declared on
² Excluding 24,161,524 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 18.5
Health Care 16.8
Information Technology 15.0
Consumer Discretionary 10.3
Industrials 8.2
Energy 7.4
Consumer Staples 6.2
Communication Services 6.1
Utilities 5.6
Materials 4.4
Real Estate 2.0
Net Current Liabilities -0.5
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100.0
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Country Analysis Total Assets (%)
United States 88.6
United Kingdom 5.9
France 2.0
South Korea 1.7
Australia 1.2
Switzerland 1.1
Net Current Liabilities -0.5
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100.0
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Top 10 Holdings Country % Total Assets Citigroup United States 3.4 Shell United Kingdom 2.8 Johnson Controls International United States 2.7 American International United States 2.7 Comcast United States2.7 Dollar Tree United States 2.5 CVS Health United States 2.4 Kraft Heinz United States 2.4 Cardinal Health 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 materials, with investment decisions in containers and packaging boosting relative performance. Selection decisions in information technology also boosted relative performance, with an overweight allocation to technology hardware, storage and peripherals particularly beneficial. Another modest contributor during the period at the sector level included selection decisions in industrials.
The largest detractor from relative performance stemmed from stock selection in health care, most notably in life sciences tools and services. Selection decisions in consumer staples modestly detracted from relative performance, with stock selection in food products dragging on relative performance. Another modest detractor at the sector level included utilities.
Transactions
During the month, the Company’s largest purchases included CVS Health, LabCorp and Lamb Weston. The Company exited its position in Verizon Communications, Cigna and Avantor.
Positioning
As of the period end, the Company’s largest overweight positions relative to the reference index were in the information technology, consumer discretionary and health care sectors. The Company’s largest underweight positions relative to the reference index were in the industrials, real estate and financials 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.
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