BLACKROCK NEW ENERGY INVESTMENT TRUST PLC
Interim Management Statement - 3 months to 31 July 2013
To the members of BlackRock New Energy Investment Trust plc
This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and Transparency Rules.
It should not be relied on by any other party for any other reason.
This interim management statement relates to the period from 1 May 2013 to
31 July 2013, and contains information that covers this period, and up to the
date of publication of this interim management statement.
The Company invests globally, and seeks to generate long term capital growth
for its shareholders by investing in companies that have a significant focus on
alternative energy or energy technology. The Company's portfolio is managed by
Robin Batchelor and Poppy Allonby of BlackRock Investment Management (UK)
Limited.
At a General Meeting of the Company held on 25 July 2012 shareholders approved
the removal of the requirement for an annual continuation vote and replaced it
with the obligation for the Board to put forward proposals that shareholders be
given the opportunity to elect to receive an amount per share in cash of NAV
less applicable costs, shortly after the AGM in 2014.
Financial position as at 31 July 2013 (unaudited)
Gross assets (£m) 105.79
Short term borrowings (£m) Nil
Net asset value per share (including income - undiluted) 45.02p
Net asset value per share (including income and diluted for
subscription shares) 45.02p
Ordinary share price 40.63p
Subscription share price 0.250p
Ordinary shares in issue* 234,970,781
Subscription shares in issue 45,629,030
Actual gearing Nil
Discount to NAV** 9.75%
* Excluding 11,900,000 ordinary shares held in treasury.
** Based on Net Asset Value per share (including income and diluted for
subscription shares).
Performance
Cumulative Performance (%):
One Three One Three Five
Month Months Year Years Years
Net asset value (undiluted) 5.9% 7.0% 29.7% -2.0% -33.9%
Share price 7.6% 7.6% 33.8% 6.0% -39.0%
Ten Largest Investments (in alphabetical order)
Company Country of Risk
ABB Switzerland
EDP Renovaveis Portugal
ITC Holdings USA
Johnson Controls USA
Johnson Matthey United Kingdom
NextEra Energy USA
Novozymes Denmark
Schneider Electric France
Scottish & Southern United Kingdom
Vestas Wind Systems Denmark
Material Events & Transactions
Following the fifteenth opportunity for shareholders to convert their
subscription shares, 374 subscription shares were converted into ordinary
shares on 8 May 2013.
There were no other material events or transactions during the three months to
31 July 2013 nor was the Company involved in any material transactions during
the period other than the purchase and sale of securities undertaken in the
normal course of its business.
Between 31 July 2013 and the date of publication of this interim management
statement, the sixteenth opportunity for shareholders to convert their
subscription shares took place, when 14,838 subscription shares were converted
into ordinary shares on 7 August 2013. Following this conversion, there were
234,985,619 ordinary shares (excluding shares held in treasury) and 45,614,192
subscription shares in issue.
Half Yearly Financial Report
The Company announced its half yearly financial results for the six months
ended 30 April 2013 on 25 June 2013.
Net Asset Value
The Company announces its NAV on a daily basis, which can be accessed via
http://www.blackrock.co.uk/brne, under the "Announcements" tab.
The unaudited net asset value for BlackRock New Energy Investment Trust plc at
close of business on 28 August 2013 was:
Capital only: 43.04p
Including income: 43.41p
The Board is not aware of any other material events or transactions occurring
between 31 July 2013 and the date of publication of this interim management
statement which would have a material impact on the financial position of the
Company.
Contact details:
Barbara Powley
Company Secretary
Tel: 020 7743 5610
30 August 2013
ENDS
Please note that more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/brne. 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.