BLACKROCK AMERICAN INCOME TRUST PLC
(LEI:549300WWOCXSC241W468)
All information is at 31 December
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 value
|
-5.4
|
3.0
|
1.5
|
8.2
|
15.8
|
42.5
|
|
Share
price
|
-5.2
|
3.6
|
3.0
|
9.0
|
10.6
|
29.3
|
|
Russell 1000
Value Index
|
-5.5
|
5.0
|
8.3
|
16.4
|
27.5
|
60.4
|
|
Russell 1000
Value Index (Net 15% WHT Total Return)*
|
-5.5
|
4.9
|
8.1
|
16.0
|
26.2
|
57.7
|
At month
end
|
Net
asset value - capital only:
|
216.13p
|
|
Net
asset value - cum income:
|
216.42p
|
|
Share
price:
|
199.00p
|
|
Discount to cum
income NAV:
|
8.1%
|
|
Net
yield1:
|
4.0%
|
|
Total
assets including current year revenue:
|
£151.8m
|
|
Net
gearing:
|
0.1%
|
|
Ordinary shares
in issue2:
|
70,145,325
|
|
Ongoing
charges3:
|
1.03%
|
1 Based on four
quarterly dividends of 2.00p per share declared on 14 March 2024, 29 May
2024, 1 August 2024 and
13 November 2024 for the year ended
31 October 2024, based on the share
price as at close of business on 31 December
2024.
²
Excluding 30,215,980 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 2023.
|
Sector
Analysis
|
Total
Assets (%)
|
|
Information
Technology
|
16.9
|
|
Health
Care
|
16.3
|
|
Financials
|
14.8
|
|
Consumer
Discretionary
|
12.4
|
|
Communication
Services
|
8.9
|
|
Industrials
|
7.3
|
|
Materials
|
6.8
|
|
Energy
|
6.1
|
|
Utilities
|
5.0
|
|
Consumer
Staples
|
3.8
|
|
Real
Estate
|
1.8
|
|
Net
Current Liabilities
|
-0.1
|
|
|
-----
|
|
|
100.0
|
|
|
=====
|
|
|
|
|
Country
Analysis
|
Total
Assets (%)
|
|
United
States
|
90.1
|
|
United
Kingdom
|
4.7
|
|
France
|
2.7
|
|
South
Korea
|
1.7
|
|
Canada
|
0.9
|
|
Net
Current Liabilities
|
-0.1
|
|
|
-----
|
|
|
100.0
|
|
|
=====
|
|
|
|
#
|
Top 10 Holdings
|
Country
|
% Total Assets
|
|
Citigroup
|
United
States
|
3.9
|
|
Cardinal
Health
|
United
States
|
3.3
|
|
Wells
Fargo
|
United
States
|
2.9
|
|
Sanofi
|
France
|
2.7
|
|
Amazon.Com
|
United
States
|
2.7
|
|
Willis Towers
Watson
|
United
States
|
2.6
|
|
Electronic Arts
Inc
|
United
States
|
2.6
|
|
First
Citizens BancShares
|
United
States
|
2.6
|
|
Microsoft
|
United
States
|
2.6
|
|
Labcorp
Holdings
|
United
States
|
2.6
|
|
|
|
|
|
|
Tony DeSpirito, David Zhao
and Lisa Yang, representing the
Investment Manager, noted:
For
the one-month period ended 30 November
2024, the Company’s NAV decreased by 5.4% and the share
price by 5.2% (all in sterling). The Company’s reference index, the
Russell 1000 Value Index, returned -5.5% for the period.
At
the sector level, the largest contributor to relative performance
stemmed from stock selection in consumer discretionary, with
investment decisions in household durables boosting relative
performance. Relative performance was also boosted by security
selection in industrials, specifically selection decisions in
building products. Other modest contributors during the period at
the sector level included selection decisions in energy and an
overweight position in consumer staples.
The
largest detractor from relative performance stemmed from stock
selection in health care, most notably selection decisions in
health care equipment and supplies. Selection decisions in
communication services also detracted from relative performance,
with an investment decision in entertainment dragging on relative
performance. Other modest detractors at the sector level included
selection decisions in information technology and real
estate.
Transactions
During the month,
the Company’s largest purchases were Aptiv and Verizon
Communications. The Company exited its positions in American
International Group and Aptiv.
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 communication services sectors. The Company’s
largest underweight positions relative to the reference index were
in the industrials, financials and real estate sectors.
Source:
BlackRock.
30 January 2025
Latest
information is available by typing blackrock.com/uk/brai
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.
