BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC
(LEI:549300WWOCXSC241W468)
All information is at 31 May
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
|
1.4
|
4.0
|
12.6
|
18.7
|
25.6
|
57.3
|
|
Share
price
|
0.5
|
7.8
|
10.8
|
12.9
|
18.5
|
38.7
|
|
Russell 1000
Value Index
|
1.5
|
3.0
|
13.0
|
18.5
|
30.9
|
64.9
|
At month
end
|
Net
asset value - capital only:
|
220.78p
|
|
Net
asset value - cum income:
|
221.49p
|
|
Share
price:
|
198.50p
|
|
Discount to cum
income NAV:
|
10.4%
|
|
Net
yield1:
|
4.0%
|
|
Total
assets including current year revenue:
|
£168.8m
|
|
Net
gearing:
|
0.6%
|
|
Ordinary shares
in issue2:
|
76,199,781
|
|
Ongoing
charges3:
|
1.03%
|
1 Based on two
quarterly dividends of 2.00p per share declared on 3 August 2023 and 2
November 2023 for the year ended 31
October 2023 and two quarterly dividends of 2.00p per share
declared on 14 March 2024 and
29 May 2024 for the year ending
31 October 2024 and based on the
share price as at close of business on 31
May 2024.
²
Excluding 24,161,524 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 (%)
|
|
|
Financials
|
18.5
|
|
|
Health
Care
|
16.8
|
|
|
Information
Technology
|
15.0
|
|
|
Consumer
Discretionary
|
10.3
|
|
|
Industrials
|
8.2
|
|
|
Energy
|
7.4
|
|
|
Consumer
Staples
|
6.2
|
|
|
Communication
Services
|
6.1
|
|
|
Utilities
|
5.6
|
|
|
Materials
|
4.4
|
|
|
Real
Estate
|
2.0
|
|
|
Net
Current Liabilities
|
-0.5
|
|
|
|
-----
|
|
|
|
100.0
|
|
|
|
=====
|
|
|
Country
Analysis
|
Total
Assets (%)
|
|
United
States
|
88.6
|
|
United
Kingdom
|
5.9
|
|
France
|
2.0
|
|
South
Korea
|
1.7
|
|
Australia
|
1.2
|
|
Switzerland
|
1.1
|
|
Net
Current Liabilities
|
-0.5
|
|
|
-----
|
|
|
100.0
|
|
|
=====
|
|
|
|
|
|
|
#
|
Top 10 Holdings
|
Country
|
% Total Assets
|
|
Citigroup
|
United
States
|
3.4
|
|
Shell
|
United
Kingdom
|
2.8
|
|
Johnson Controls
International
|
United
States
|
2.7
|
|
American
International
|
United
States
|
2.7
|
|
Comcast
|
United
States
|
2.7
|
|
Dollar
Tree
|
United
States
|
2.5
|
|
CVS
Health
|
United
States
|
2.4
|
|
Kraft
Heinz
|
United
States
|
2.4
|
|
Cardinal
Health
|
United
States
|
2.4
|
|
Fidelity National
Information Services
|
United
States
|
2.3
|
|
|
|
|
|
|
Tony DeSpirito, David Zhao
and Lisa Yang, representing the
Investment Manager, noted:
For
the one-month period ended 31 May
2024, the Company’s NAV increased by 1.4% and the share
price by 0.5% (all in sterling). The Company’s reference index, the
Russell 1000 Value Index, returned 1.5% for the period.
The
largest contributor to relative performance stemmed from stock
selection in materials, with investment decisions in containers and
packaging boosting relative performance. Selection decisions in
information technology also boosted relative performance, with an
overweight allocation to technology hardware, storage and
peripherals particularly beneficial. Another modest contributor
during the period at the sector level included selection decisions
in 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 staples modestly
detracted from relative performance, with stock selection in food
products dragging on relative performance. Another modest detractor
at the sector level included utilities.
Transactions
During the month,
the Company’s largest purchases included CVS Health, LabCorp and
Lamb Weston. The Company exited its position in Verizon
Communications, Cigna and Avantor.
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, real estate and financials sectors.
Source:
BlackRock.
27 June 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.