BlackRock Sustainable American Income Trust Plc - Portfolio Update
PR Newswire
LONDON, United Kingdom, October 17
BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 30 September 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 | -2.5 | -1.4 | -3.3 | 10.9 | 19.5 | 38.7 |
| Share price | -1.9 | -0.5 | -0.4 | 10.4 | 14.7 | 26.3 |
| Russell 1000 Value Index | -0.7 | 3.1 | 0.8 | 16.3 | 30.3 | 52.7 |
At month end
| Net asset value - capital only: | 211.52p |
| Net asset value - cum income: | 212.04p |
| Share price: | 194.00p |
| Discount to cum income NAV: | 8.5% |
| Net yield1: | 4.1% |
| Total assets including current year revenue: | £156.4m |
| Net gearing: | 0.5% |
| Ordinary shares in issue2: | 73,755,707 |
| Ongoing charges3: | 1.03% |
1 Based on one quarterly dividend of 2.00p per share declared on 2 November 2023 for the year ended 31 October 2023 and three quarterly dividends of 2.00p per share declared on 14 March 2024, 29 May 2024 and 1 August 2024 for the year ending 31 October 2024 and based on the share price as at close of business on 30 September 2024.
² Excluding 26,605,598 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 (%) |
| Health Care | 18.2 |
| Information Technology | 15.9 |
| Financials | 15.9 |
| Consumer Discretionary | 10.7 |
| Energy | 7.0 |
| Communication Services | 6.3 |
| Consumer Staples | 6.2 |
| Industrials | 6.1 |
| Materials | 5.6 |
| Utilities | 5.5 |
| Real Estate | 2.3 |
| Net Current Assets | 0.3 |
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| ----- |
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| 100.0 |
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| Country Analysis | Total Assets (%) |
| United States | 87.6 |
| United Kingdom | 4.5 |
| France | 2.3 |
| South Korea | 1.6 |
| Ireland | 1.5 |
| Canada | 1.1 |
| Australia | 1.1 |
| Net Current Assets | 0.3 |
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| ----- |
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| 100.0 |
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| Top 10 Holdings | Country | % Total Assets |
| Citigroup | United States | 3.3 |
| Cardinal Health | United States | 2.9 |
| CVS Health | United States | 2.7 |
| Comcast | United States | 2.7 |
| Baxter International | United States | 2.4 |
| Willis Towers Watson | United States | 2.3 |
| American International | United States | 2.3 |
| Kraft Heinz | United States | 2.3 |
| Sanofi | France | 2.3 |
| Johnson Controls International | United States | 2.3 |
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Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, noted:
For the one-month period ended 30 September 2024, the Company’s NAV decreased by 2.5% and the share price by 1.9% (all in sterling). The Company’s reference index, the Russell 1000 Value Index, returned -0.7% for the period.
At the sector level, the largest contributor to relative performance stemmed from stock selection in materials, with selection decisions in containers and packaging boosting relative performance. Relative performance was also boosted by the underweight allocation to financials, specifically in financial services. Other modest contributors during the period at the sector level included selection decisions in real estate and industrials.
The largest detractor from relative performance stemmed from stock selection in health care, most notably in life sciences tools and services. Selection decisions in consumer discretionary also detracted from relative performance, with stock selection in automobiles dragging on relative performance. Other modest detractors at the sector level included selection decisions in information technology and consumer staples.
Transactions
During the month, the Company’s largest purchases included Amazon and Nasdaq. The Company exited its positions in Citizens Financial Group and UBS Group.
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 health care sectors. The Company’s largest underweight positions relative to the reference index were in the industrials, financials and real estate sectors.
Source: BlackRock.
17 October 2024
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.
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