REG-BlackRock American Income Trust Plc: Portfolio Update

Blackrock American Income TrustAnnouncement

18/03/2025 11:15

 

BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 28 February 2025 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                                       -0.8        -1.8          4.3         8.4        19.5          61.2        
 Share price                                           -1.0        -1.0          6.2         16.4       18.1          55.5        
 Russell 1000 Value Index                              -0.9        -1.2          9.0         16.3       36.7          82.9        
 Russell 1000 Value Index (Net 15% WHT Total Return)*  -0.9        -1.3          8.8         15.9       35.3          79.8        

 

At month end

 Net asset value - capital only:               224.13p     
 Net asset value - cum income:                 224.79p     
 Share price:                                  208.00p     
 Discount to cum income NAV:                   7.5%        
 Net yield 1 :                                 3.8%        
 Total assets including current year revenue:  £153.9m     
 Net cash:                                     0.1%        
 Ordinary shares in issue 2 :                  68,451,984  
 Ongoing charges 3 :                           1.06%       

 

1 Based on four quarterly dividends of 2.00p per share declared on 14 March
2024, 29 May 2024, 1 August 2024 and 13 November 2024 for the year ended 31
October 2024, based on the share price as at close of business on 28 February
2025.

² Excluding 26,909,321 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 2024.

 

 

 Sector Analysis         Total Assets (%)  
 Health Care             18.1              
 Information Technology  16.1              
 Financials              15.6              
 Consumer Discretionary  12.5              
 Communication Services  8.5               
 Industrials             7.7               
 Materials               6.5               
 Energy                  6.0               
 Utilities               4.2               
 Consumer Staples        2.6               
 Real Estate             2.0               
 Net Current Assets      0.2               
                         -----             
                         100.0             
                         =====             
                                           
 Country Analysis        Total Assets (%)  
 United States           88.4              
 United Kingdom          4.5               
 France                  2.8               
 South Korea             1.6               
 Canada                  1.0               
 Ireland                 1.0               
 Netherlands             0.5               
 Net Current Assets      0.2               
                         -----             
                         100.0             
                         =====             

 #

 

 Top 10 Holdings            Country        % Total Assets  
 Citigroup                  United States  3.6             
 CVS Health                 United States  3.3             
 Cardinal Health            United States  3.2             
 Wells Fargo                United States  3.0             
 Sanofi                     France         2.8             
 Comcast                    United States  2.7             
 Willis Towers Watson       United States  2.6             
 Sony                       United States  2.5             
 Electronic Arts Inc        United States  2.4             
 First Citizens BancShares  United States  2.4             
                                                           
                                                           

Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager,
noted:

 

For the one-month period ended 28 February 2025, the Company’s NAV decreased
by 0.8% and the share price by 1.0% (all in sterling). The Company’s
reference index, the Russell 1000 Value Index, returned -0.9% for the period.

 

At the sector level, the largest contributor to relative performance stemmed
from stock selection in health care, with investment decisions in health care
providers and services boosting relative performance. Relative performance was
also boosted by security selection in industrials, specifically selection
decisions in building products. Other modest contributors during the period at
the sector level included selection decisions in consumer discretionary and
utilities.

 

The largest detractor from relative performance stemmed from stock selection
in consumer staples, most notably investment decisions in food products.
Selection decisions in financials also detracted from relative performance,
with investment decisions in financial services dragging on relative
performance. Other modest detractors at the sector level included an
overweight allocation in information technology and selection decisions in
materials. 

 

Transactions

During the month, the Company’s largest purchases were Charles Schwab and
Icon. The Company exited its position in Discover Financial Services and
Diageo ADR.

 

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 communication services sectors. The Company’s largest underweight
positions relative to the reference index were in the industrials, financials
and real estate sectors.

 

Source: BlackRock.

 

18 March 2025

 

Latest information is available by typing blackrock.com/uk/brai
(http://www.blackrock.co.uk/brna) 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.

 

 Release (https://mb.cision.com/Main/22399/4120333/3326827.pdf)  



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