BlackRock Sustainable American Income Trust Plc Portfolio Update
24 November 2021 - 12:02AM
UK Regulatory
TIDMBRSA
The information contained in this release was correct as at 31 October 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 October 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 3.6% 7.0% 6.2% 36.0% 34.5% 59.8%
Share price 3.8% 9.2% 2.3% 42.4% 34.4% 57.5%
Russell 1000 Value Index 3.4% 4.9% 6.5% 35.6% 37.8% 59.7%
At month end
Net asset value - capital only: 205.42p
Net asset value - cum income: 206.09p
Share price: 198.25p
Discount to cum income NAV: 3.8%
Net yield1: 4.0%
Total assets including current year revenue: £165.3m
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 23
March 2021, 5 May 2021, 5 August 2021 and 3 November 2021 for the year ended 31
October 2021, and based on the share price as at close of business on 29
October 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 25.3
Health Care 18.5
Information Technology 14.9
Consumer Discretionary 11.3
Communication Services 5.7
Energy 5.3
Utilities 5.2
Industrials 4.9
Consumer Staples 3.9
Materials 3.9
Real Estate 0.9
Net Current Assets 0.2
----
100.0
=====
Country Analysis Total Assets
(%)
United States 79.3
Japan 4.8
United Kingdom 3.5
France 3.3
Canada 2.7
Switzerland 1.9
Norway 1.8
Australia 1.3
Denmark 1.2
Net Current Assets 0.2
-----
100.0
=====
Top 10 Holdings Country % Total
Assets
Cisco Systems United States 4.0
AstraZeneca United Kingdom 3.5
Comerica United States 3.4
Wells Fargo United States 3.3
Cognizant Technology Solutions United States 3.2
Komatsu Japan 3.0
Zimmer Biomet United States 2.9
American International Group United States 2.9
SS&C Technologies Holdings United States 2.8
Ralph Lauren United States 2.5
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager,
noted:
For the one-month period ended 31 October 2021, the Company's NAV increased by
3.6% and the share price by 3.8% (all in sterling). The Company's reference
index, the Russell 1000 Value Index, returned 3.4% for the period.
The largest contributor to relative performance was security selection in the
information technology sector. Specifically, selection decisions within
software helped relative returns as did an underweight exposure to the
semiconductors and semiconductor equipment industry. Within industrials,
selection decisions boosted relative results including stock selection within
road and rail and machinery, as well as an underweight exposure to aerospace
and defence. Consumer discretionary stock selection also proved accretive,
particularly within the specialty retail industry. Other meaningful
contributors during the period included an underweight exposure to
communication services and security decisions within financials.
The largest detractor from relative performance was stock selection in the
energy sector, specifically the oil, gas and consumable fuels industry. Our
selection decisions in real estate also hurt relative returns. Notably, stock
choices in the equity real estate investment trusts (REITs) proved costly as
did an underweight exposure to the sector overall. In consumer staples, our
security selection in food products also weighed on relative returns. Other
modest detractors during the period included stock decisions in health care and
utilities.
Transactions
Notable new purchases in the portfolio during the month included CDK Global,
Dollar General and EQT. Conversely, the Company exited its position in Carrier
Global, Open Text and Omnicom Group and trimmed its positions in Danone S.A.,
Gildan Activewear and Consolidated Edison.
Positioning
As of the period end, the Company's largest overweight positions relative to
the reference index were in the consumer discretionary, information technology
and financial sectors. The Company's largest underweight positions relative to
the reference index were in the industrials, real estate and consumer staples
sectors.
Source: BlackRock. Data as of 31 October 2021.
23 November 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
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