BRSA Blackrock Sustainable American Income Trust Plc

 
TIDMBRSA 
 
BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468) 
All information is at 30 November 2023 and unaudited. 
Performance at month end with net income reinvested 
 
                          One    Three   Six     One   Three  Five Years 
 
                          Month  Months  Months  Year  Years 
Net asset value           3.6    1.7     5.5     -5.3  28.4   39.6 
Share price               5.1    0.4     1.9     -8.3  26.0   26.8 
Russell 1000 Value Index  3.1    -0.2    4.9     -4.7  33.8   44.8 
 
At month end 
 
Net asset value - capital only:               198.18p 
Net asset value - cum income:                 198.52p 
Share price:                                  181.00p 
Discount to cum income NAV:                   8.8% 
Net yield1:                                   4.4% 
Total assets including current year revenue:  £158.3m 
Net gearing:                                  0.8% 
Ordinary shares in issue2:                    79,718,091 
Ongoing charges3:                             1.01% 
 
1 Based on four quarterly dividends of 2.00p per share declared on 22 March 
2023, 11 May 2023, 3 August 2023 and 2 November 2023 for the year ended 31 
October 2023 and based on the share price as at close of business on 30 November 
2023. 
 
² Excluding 20,643,214 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               20.1 
Health Care              18.7 
Information Technology   13.5 
Consumer Discretionary   10.3 
Industrials              8.9 
Energy                   8.7 
Consumer Staples         7.0 
Communication Services   4.4 
Materials                3.8 
Utilities                3.7 
Real Estate              1.7 
Net Current Liabilities  -0.8 
                         ----- 
                         100.0 
                         ===== 
 
Country Analysis         Total Assets (%) 
United States            87.5 
United Kingdom           4.4 
Japan                    3.0 
France                   1.9 
Canada                   1.7 
Australia                1.7 
Denmark                  0.6 
Net Current Liabilities  -0.8 
                         ----- 
                         100.0 
                         ===== 
 
Top 10 Holdings         Country         % Total Assets 
Citigroup               United States   2.9 
Shell                   United Kingdom  2.9 
Willis Towers Watson    United States   2.8 
American International  United States   2.8 
Verizon Communications  United States   2.8 
L3Harris Technologies   United States   2.7 
Kraft Heinz             United States   2.7 
Cardinal Health         United States   2.6 
Cheniere Energy         United States   2.5 
Cisco Systems           United States   2.5 
 
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, 
noted: 
 
For the one-month period ended 30 November 2023, the Company's NAV increased by 
3.6% and the share price by 5.1% (all in sterling). The Company's reference 
index, the Russell 1000 Value Index, returned +3.1% for the period. 
 
The largest contributor to relative performance, stemmed from stock selection in 
consumer staples, particularly in consumer staples distribution and retail. 
Selection decisions in consumer discretionary also boosted relative performance, 
with stock selection in textiles and apparel proving beneficial. Other modest 
contributors during the period at the sector level included selection decisions 
in health care and energy. 
 
The largest detractor from relative performance stemmed from stock selection in 
information technology; notably at the industry level the decision to not invest 
in semiconductors and semiconductor equipment weighed on the relative 
performance. An underweight allocation to industrials, with selection decisions 
in machinery, proved costly. Other modest detractors during the period included 
stock selection in utilities and communication services. 
 
Transactions 
 
During the month, the Company purchased Aptiv. The Company exited its position 
in Lear Corp. 
 
Positioning 
 
As of the period end, the Company's largest overweight positions relative to the 
reference index were in the health care, consumer discretionary and financials 
sectors. The Company's largest underweight positions relative to the reference 
index were in the industrials, real estate and utilities sectors. 
 
Source: BlackRock. 
 
20 December 2023 
 
Latest information is available by typing 
blackrock.com/uk/brsa (http://www.blackrock.co.uk/brna) 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. 
 
 
This information was brought to you by Cision http://news.cision.com 
The following files are available for download: 
https://mb.cision.com/Main/22399/3896959/2509024.pdf Release 
 
 
END 
 
 

(END) Dow Jones Newswires

December 20, 2023 12:34 ET (17:34 GMT)

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