BlackRock Sustainable American Income Trust Plc Portfolio Update
January 24 2023 - 11:46AM
UK Regulatory
TIDMBRSA
The information contained in this release was correct as at 31 December 2022.
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 December 2022 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 -4.9% 4.0% 4.1% 2.9% 26.6% 49.1%
Share price -5.8% 1.5% 5.8% -0.8% 16.0% 49.2%
Russell 1000 Value Index -5.0% 4.3% 7.1% 4.1% 31.0% 55.3%
At month end
Net asset value - capital only: 207.16p
Net asset value - cum income: 207.47p
Share price: 194.00p
Discount to cum income NAV: 6.5%
Net yield1: 4.1%
Total assets including current year revenue: £166.5m
Gearing: 2.2%
Ordinary shares in issue2: 80,229,044
Ongoing charges3: 1.0%
1 Based on four quarterly dividends of 2.00p per share declared on 22 March
2022, 11 May 2022, 4 August 2022 and 2 November 2022 for the year ended 31
October 2022 and based on the share price as at close of business on 30
December 2022.
² Excluding 20,132,261 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 2021.
Sector Analysis Total Assets
(%)
Financials 22.2
Health Care 20.1
Information Technology 13.7
Consumer Discretionary 9.1
Energy 8.1
Consumer Staples 5.9
Communication Services 5.3
Industrials 5.3
Materials 4.7
Utilities 4.6
Real Estate 1.4
Net Current Liabilities -0.4
-----
100.0
=====
Country Analysis Total Assets
(%)
United States 82.4
United Kingdom 8.1
Japan 3.6
France 3.3
Australia 2.0
Denmark 1.0
Net Current Liabilities -0.4
-----
100.0
=====
Top 10 Holdings Country % Total
Assets
Verizon Communications United States 3.3
Sanofi France 3.3
Willis Towers Watson United States 3.0
Laboratory Corporation of America United States 2.9
Cigna United States 2.9
Cisco Systems United States 2.8
American International United States 2.8
Shell United Kingdom 2.5
Wells Fargo United States 2.5
Cognizant Technology Solutions United States 2.5
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager,
noted:
For the one-month period ended 31 December 2022, the Company's NAV decreased by
4.9% and the share price by 5.8% (all in sterling). The Company's reference
index, the Russell 1000 Value Index, returned -5.0% for the period.
The largest contributor to relative performance was due to stock selection
within the financials sector. Specifically, selection decisions in the
insurance industry proved to be beneficial to relative performance. Our
investment decisions in the health care sector also boosted relative results,
mainly due to our stock selection in the pharmaceuticals industry. Other
notable contributors during the period included our stock selection in the
communication services and utilities sectors.
The largest detractor from relative performance was due to stock selection
within the energy sector, as selection decisions in the oil, gas and consumable
fuels industry weighed on relative returns. Investment decisions in consumer
discretionary also hurt relative performance. At the industry level, the
portfolio's overweight position in automobiles hampered relative returns. Other
notable detractors for the period included investment decisions in the
industrials sector.
Transactions
During the month, the Company initiated one new purchase in Comcast.
Conversely, the Company exited its positions in Rogers Communications and F&G
Annuities and Life.
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 communication
services sectors.
Source: BlackRock.
24 January 2023
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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