REG-BlackRock American Income Trust Plc: Portfolio Update

Blackrock American Income TrustAnnouncement

24/04/2025 16:30

 

BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 31 March 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                                       -4.2        -0.5          2.4         -1.0       10.0          75.6        
 Share price                                           -4.8        -0.5          3.1         2.7        6.0           74.3        
 Russell 1000 Value Index                              -5.2        -0.9          4.0         4.9        23.7          103.1       
 Russell 1000 Value Index (Net 15% WHT Total Return)*  -5.2        -1.0          3.9         4.6        22.5          99.7        

 

At month end

 Net asset value - capital only:               214.35p     
 Net asset value - cum income:                 215.32p     
 Share price:                                  198.00p     
 Discount to cum income NAV:                   8.0%        
 Net yield 1 :                                 4.0%        
 Total assets including current year revenue:  £146.1m     
 Net gearing:                                  0.1%        
 Ordinary shares in issue 2 :                  67,847,014  
 Ongoing charges 3 :                           1.06%       

 

1 Based on three quarterly dividends of 2.00p per share declared on 29 May
2024, 1 August 2024 and 13 November 2024 for the year ended 31 October 2024
and one quarterly dividend of 2.00p per share declared on 1 April 2025 for the
year ending 31 October 2025 and based on the share price as at close of
business on 31 March 2025.

² Excluding 27,514,291 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              18.0              
 Information Technology   15.6              
 Financials               15.1              
 Consumer Discretionary   11.7              
 Communication Services   10.5              
 Industrials              6.7               
 Materials                6.2               
 Energy                   6.2               
 Utilities                4.7               
 Consumer Staples         3.0               
 Real Estate              2.3               
 Net Current Liabilities  –                 
                          -----             
                          100.0             
                          =====             
                                            
 Country Analysis         Total Assets (%)  
 United States            88.4              
 United Kingdom           4.8               
 France                   2.7               
 South Korea              1.7               
 Canada                   0.9               
 Ireland                  0.9               
 Netherlands              0.6               
 Net Current Liabilities  –                 
                          -----             
                          100.0             
                          =====             
                                            

 #

 

 Top 10 Holdings       Country        % Total Assets  
 Electronic Arts       United States  4.0             
 Cardinal Health       United States  3.4             
 Citigroup             United States  3.3             
 CVS Health            United States  3.3             
 Comcast               United States  2.9             
 Wells Fargo           United States  2.8             
 Sanofi                France         2.7             
 Willis Towers Watson  United States  2.6             
 Dollar Tree           United States  2.3             
 Crown Castle          United States  2.3             
                                                      
                                                      

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

 

For the one-month period ended 31 March 2025, the Company’s NAV decreased by
4.2% and the share price by 4.8% (all in sterling). The Company’s reference
index, the Russell 1000 Value Index, returned -5.2% for the period.

 

At the sector level, the largest contributor to relative performance stemmed
from stock selection in communication services, with investment decisions in
entertainment boosting relative performance. Relative performance was also
boosted by security selection in real estate, specifically selection decisions
in specialized REITs. Another modest contributor during the period at the
sector level included selection decisions in information technology.

 

The largest detractor from relative performance stemmed from stock selection
in materials, most notably investment decisions in metals and mining.
Selection decisions in energy also detracted from relative performance, with
investment decisions in oil, gas and consumable fuels dragging on relative
performance. Another modest detractor at the sector level included security
selection in health care.

 

Transactions

During the month, the Company’s made no new purchases. The Company exited
its position in Westinghouse Air Brake Technologies and Sandisk.

 

Positioning

As of the period end, the Company’s largest overweight positions relative to
the reference index were in the communication services, information technology
and consumer discretionary sectors. The Company’s largest underweight
positions relative to the reference index were in the industrials, financials
and consumer staples sectors.

 

Source: BlackRock.

 

24 April 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/22399/4140215/3408998.pdf)  



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