BlackRock Sustainable American Income Trust Plc Correction : Portfolio Update
03 Settembre 2021 - 10:29AM
UK Regulatory
TIDMBRSA
The top ten holdings have been adjusted to remove Woodside Petroleum from the
list of the Company's top ten portfolio holdings and to include instead SS&C
Technologies Holdings (2.7% of total assets).
The information contained in this release was correct as at 31 July 2021.
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 31 July 2021 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 -1.0% -0.8% 14.7% 25.9% 23.8% 60.9%
Share price -0.5% -6.4% 14.6% 23.1% 21.9% 63.0%
Russell 1000 Value Index 0.2% 1.5% 17.6% 31.5% 30.0% 63.9%
At month end
Net asset value - capital only: 194.08p
Net asset value - cum income: 194.48p
Share price: 183.5p
Discount to cum income NAV: 5.6%
Net yield1: 4.4%
Total assets including current year revenue: £156.0m
Gearing: Nil
Ordinary shares in issue2: 80,229,044
Ongoing charges3: 1.1%
1 Based on four quarterly interim dividends of 2.00p per share declared on 4
November 2020 for the year ended 31 October 2020, and on 23 March 2021, 5 May
2021 and 5 August 2021 for the year ending 31 October 2021, and based on the
share price as at close of business on 31 July 2021.
² Excluding 20,132,261 ordinary shares held in treasury.
³ Ongoing charges represent the management fee and all other operating expenses
excluding interest as a % of average shareholders' funds for the year ended 31
October 2020.
Sector Analysis Total Assets
(%)
Financials 23.4
Health Care 16.9
Information Technology 15.2
Consumer Discretionary 10.4
Communication Services 7.2
Industrials 6.2
Utilities 5.7
Consumer Staples 5.4
Materials 4.5
Energy 3.9
Real Estate 0.9
Net Current Assets 0.3
----
100.0
=====
Country Analysis Total Assets
(%)
United States 74.0
Canada 5.4
France 5.2
Japan 4.6
United Kingdom 3.4
Australia 2.4
Switzerland 2.1
Norway 1.5
Denmark 1.1
Net Current Assets 0.3
-----
100.0
=====
Top 10 Holdings Country % Total
Assets
Cisco Systems United States 4.7
Zimmer Biomet United States 3.5
AstraZeneca United Kingdom 3.4
Danone France 3.3
Cognizant Technology Solutions United States 3.2
Komatsu Japan 3.1
Wells Fargo United States 3.1
Comerica United States 2.9
General Motors United States 2.9
SS&C Technologies Holdings United States 2.7
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager,
noted:
For the one-month period ended 31 July 2021, the Company's NAV decreased by
1.0% and the share price by 0.5% (all in sterling). The Company's reference
index, the Russell 1000 Value Index, returned +0.2% for the period.
The largest detractor from relative performance was stock selection in health
care, as our selection decisions in the pharmaceuticals and health care
equipment and supplies industries proved costly. In real estate, an underweight
allocation to the equity real estate investment trusts (REITs) industry also
weighed on relative returns. Other detractors during the period included stock
selection in consumer discretionary and investment decisions in the financials
sector.
The largest contributor to relative performance was security selection in the
information technology (IT) sector. Specifically, selection decisions within IT
services and software helped relative returns, as did an underweight allocation
to the semiconductors and semiconductor equipment industry. In industrials,
stock selection in aerospace and defence boosted relative results. Lastly, at
the industry level, stock selection in food products and entertainment
contributed to relative performance during the period.
Following shareholder approval of the new investment objective and policy at a
General Meeting on 29 July the portfolio has been re-organised to reflect the
new objective of investing in a manner consistent with the principles of
sustainable investing. Additionally, the exposure to medium-cap companies has
increased and the number of portfolio holdings reduced, and the latter
currently stands at 53. As a consequence of these changes the Company has
changed its name to BlackRock Sustainable American Income Trust plc. Further
explanation of the recent changes is set out on the Company's website
www.blackrock.com/uk/brsa.
Transactions
Notable new purchases in the portfolio include Comerica, Woodside Petroleum,
PepsiCo and Ralph Lauren. The largest portfolio sales included exiting
positions in Comcast, Unilever, BAE Systems and Medtronic.
Positioning
As of the period end, the Company's largest overweight positions relative to
the benchmark were in the IT, consumer discretionary and financials sectors.
The Company's largest underweight positions relative to the benchmark were in
the industrials, real estate and consumer staples sectors.
Source: BlackRock. Data as of 31 July 2021.
3 September 2021
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
September 03, 2021 04:29 ET (08:29 GMT)
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