BlackRock Sustainable American Income Trust Plc Portfolio Update
14 Marzo 2023 - 9:44AM
UK Regulatory
TIDMBRSA
The information contained in this release was correct as at 28 February 2023.
Information on the Company's up to date net asset values can be found on the
London Stock Exchange website at:
https://www.londonstockexchange.com/exchange/news/market-news/
market-news-home.html.
BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 28 February 2023 and unaudited.
Performance at month end with net income reinvested
One Three Six One Three Five
Month Months Months Year Years Years
Net asset value -2.1% -2.8% 0.1% 4.4% 40.9% 56.0%
Share price 2.5% 0.0% 2.7% 7.6% 41.7% 59.0%
Russell 1000 Value Index -1.9% -4.2% 0.0% 7.7% 44.1% 61.2%
At month end
Net asset value - capital only: 210.87p
Net asset value - cum income: 211.96p
Share price: 206.00p
Discount to cum income NAV: 2.8%
Net yield1: 3.9%
Total assets including current year revenue: £170.1m
Gearing: 1.0%
Ordinary shares in issue2: 80,229,044
Ongoing charges3: 1.0%
1 Based on four quarterly dividends of 2.00p per share declared on 22 March
2022, 11 May 2022, 4 August 2022 and 2 November 2022 for the year ended 31
October 2022 and based on the share price as at close of business on 28
February 2023.
² Excluding 20,132,261 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 31
October 2022.
Sector Analysis Total Assets
(%)
Financials 21.7
Health Care 19.9
Information Technology 14.4
Consumer Discretionary 9.9
Energy 8.7
Industrials 6.1
Consumer Staples 5.3
Communication Services 4.1
Utilities 3.8
Materials 3.5
Real Estate 1.6
Net Current Assets 1.0
-----
100.0
=====
Country Analysis Total Assets
(%)
United States 80.7
United Kingdom 7.9
Japan 3.7
France 2.3
Australia 2.0
Canada 1.3
Denmark 1.1
Net Current Assets 1.0
-----
100.0
=====
Top 10 Holdings Country % Total
Assets
Laboratory Corporation of America United States 2.9
Willis Towers Watson United States 2.9
Wells Fargo United States 2.8
Shell United Kingdom 2.7
Citigroup United States 2.7
Cognizant Technology Solutions United States 2.7
American International United States 2.6
Cisco Systems United States 2.6
Verizon Communications United States 2.5
Cigna United States 2.4
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager,
noted:
For the one-month period ended 28 February 2023, the Company's NAV decreased by
2.1% and the share price increased by 2.5% (all in sterling). The Company's
reference index, the Russell 1000 Value Index, returned -1.9% for the period.
The largest contributor to relative performance was due to stock selection in
energy, most notably in oil, gas and consumables. Selection decisions in health
care, specifically in pharmaceuticals, was another positive driver of relative
performance. Stock selection in utilities also proved beneficial during the
month. Another modest contributor stemmed from investment decisions in real
estate.
The largest detractor from relative performance was due to selection decisions
in the information technology sector, especially in the IT services
industry. Stock selection in communication services also weighed on relative
performance, as the decision to not invest in interactive media proved costly.
Another detractor for the period included selection decisions in the financial
sector. Allocation decisions in the industrials sectors hampered relative
performance as well.
Transactions
During the month, the Company initiated a number of trades, the buys being in
Union Pacific, Zimmer Biomet and Kosmos Energy. The three largest sales during
the period included Norfolk Southern, Morgan Stanley and Robert Half.
Positioning
As of the period end, the Company's largest overweight positions relative to
the reference index were in the information technology, health care and
consumer discretionary sectors. The Company's largest underweight positions
relative to the reference index were in the industrials, communication services
and real estate sectors.
Source: BlackRock.
14 March 2023
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.
END
(END) Dow Jones Newswires
March 14, 2023 11:44 ET (15:44 GMT)
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