BlackRock Energy and Resources Income Trust Plc - Portfolio Update
22 Enero 2020 - 4:05AM
PR Newswire (US)
BLACKROCK ENERGY AND
RESOURCES INCOME TRUST plc (LEI:54930040ALEAVPMMDC31) |
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All information is at
31 December 2019 and unaudited. |
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Performance at month
end with net income reinvested |
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One |
Three |
Six |
One |
Three |
Five |
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Month |
Months |
Months |
Year |
Years |
Years |
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Net asset value |
4.5% |
0.2% |
-4.0% |
12.4% |
6.2% |
20.8% |
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Share price |
8.5% |
0.3% |
-1.6% |
5.3% |
-5.4% |
8.9% |
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Sources: Datastream,
BlackRock |
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At month end |
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Net asset value –
capital only: |
77.31p |
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Net asset value cum
income*: |
77.71p |
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Share price: |
70.60p |
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Discount to NAV (cum
income): |
9.2% |
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Net yield: |
5.7% |
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Gearing - cum
income: |
8.5% |
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Total assets: |
£93.7m |
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Ordinary shares in
issue: |
113,870,349 |
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Gearing range (as a % of
net assets): |
0-20% |
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Ongoing charges**: |
1.5% |
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* Includes
net revenue of 0.40p.
** Calculated as a percentage of average net assets and using
expenses, excluding any interest costs and excluding taxation for
the year ended 30 November 2019. |
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Sector
Analysis |
% Total
Assets^ |
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Country
Analysis |
% Total
Assets^ |
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Integrated Oil |
31.0 |
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Global |
65.9 |
Diversified Mining |
23.5 |
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USA |
12.7 |
Gold |
16.3 |
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Canada |
11.2 |
Copper |
10.0 |
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Latin America |
4.6 |
Exploration &
Production |
5.9 |
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Australia |
3.6 |
Industrial Minerals |
5.1 |
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Asia |
2.3 |
Silver |
3.5 |
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South Africa |
1.8 |
Distribution |
3.1 |
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Africa |
0.4 |
Diamonds |
2.1 |
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Net Current
Liabilities^ |
-2.5 |
Electricity |
2.0 |
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----- |
Net Current
Liabilities^ |
-2.5 |
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100.0 |
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-----
100.0
===== |
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^ Total
Liabilities for the purposes of these calculations exclude bank
overdrafts, and the Net Current Liabilities figure shown in
the tables above therefore exclude bank overdrafts equivalent to
5.9% of the Company’s net asset value. |
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Ten Largest
Investments |
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Company |
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Region
of Risk |
% Total
Assets |
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BHP |
Global |
8.5 |
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First Quantum
Minerals* |
Global |
7.4 |
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Royal Dutch Shell
‘B’ |
Global |
6.2 |
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Barrick Gold |
Global |
5.7 |
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BP Group |
Global |
5.0 |
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Exxon Mobil |
Global |
4.0 |
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Rio Tinto |
Global |
3.9 |
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Total |
Global |
3.7 |
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ConocoPhillips |
USA |
3.6 |
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Chevron |
Global |
3.5 |
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Commenting on the
markets, Olivia Markham and Tom Holl, representing the Investment
Manager noted: |
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The
Company’s NAV increased by 4.5% during the month of December (in
Sterling terms).
Global equity markets continued to rise in December with the MSCI
World Index returning 3.0%. Geopolitical risk moderated somewhat as
the US and China tentatively reached a phase one trade deal, which
continued to support equity markets into year end. In terms of
economic data, consumer confidence indicators and services
Purchasing Managers’ Index (PMI) data remained supportive, whilst
manufacturing PMI data in December was broadly weaker across the
major economic blocs.
It was a strong end to the year for the mining sector on the back
of the improved equity market sentiment as well as rising mined
commodity prices. Mined commodity prices were up almost across the
board, with copper, gold and iron ore prices up 5.2%, 4.0% and 4.5%
respectively (figures in US Dollars).
Within the energy sector, The Organisation of the Petroleum
Exporting Countries (OPEC+) agreed to remove 500,000 barrels per
day from the oil market in their December meeting, which is in
addition to the previously agreed reduction of 1.2 million barrels
per day announced in December 2018. Voluntary cuts in addition to
these by Saudi Arabia will also continue. Against this backdrop,
oil prices increased over the month, with the Brent and West Texas
Intermediate indices returning +5.1% and +10.7%, to end the period
at prices of $67/bbl and $61/bbl respectively. This positive return
reflected the improving macroeconomic sentiment, the OPEC+
commitment to constraining production combined with a lower oil rig
count suggesting US shale growth continues to decline. Natural Gas
and Natural Gas Liquids (NGL) prices also continued to weaken
during the month, due to an oversupplied market.
All data points in US Dollar terms unless otherwise specified.
Commodity price moves sourced from Thomson Reuters Datastream. |
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Source:
BlackRock. Data as at 31 December 2019.
22 January 2020 |
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ENDS |
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Latest information is
available by typing www.blackrock.co.uk/brci 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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*The holding in First Quantum Minerals includes both an equity
holding and a holding in several bonds. |
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