BLACKROCK SUSTAINABLE AMERICAN
INCOME TRUST PLC
(LEI:549300WWOCXSC241W468)
All information is at 31
March 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 |
4.9 |
8.7 |
14.7 |
16.7 |
31.2 |
61.2 |
Share
price |
7.9 |
5.7 |
10.9 |
12.7 |
19.2 |
45.4 |
Russell 1000 Value
Index |
5.1 |
10.0 |
15.3 |
17.7 |
38.0 |
68.5 |
At
month end
Net asset value - capital
only: |
223.33p |
Net asset value - cum
income: |
223.40p |
Share
price: |
198.75p |
Discount
to cum income
NAV: |
11.0% |
Net
yield1: |
4.0% |
Total assets including current
year revenue: |
£174.3m |
Net
gearing: |
1.3% |
Ordinary shares in
issue2: |
78,011,399 |
Ongoing
charges3: |
1.03% |
1 Based on three quarterly dividends of 2.00p per share
declared on 11 May 2023, 3 August 2023 and 2
November 2023 for the year ended 31
October 2023 and one quarterly dividend of 2.00p per share
declared on 14 March 2024 for the
year ending 31 October 2024 and based
on the share price as at close of business on 31 March
2024.
2 Excluding
22,349,906
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 |
20.4 |
Health
Care |
18.8 |
Information
Technology |
16.2 |
Consumer
Discretionary |
9.3 |
Industrials |
8.0 |
Energy |
7.3 |
Consumer
Staples |
6.5 |
Communication
Services |
5.2 |
Materials |
4.2 |
Utilities |
3.7 |
Real
Estate |
1.6 |
Net
Current
Liabilities |
-1.2 |
|
----- |
|
100.0 |
|
===== |
Country
Analysis |
Total Assets
(%) |
United
States |
90.2 |
United
Kingdom |
5.2 |
France |
2.0 |
South
Korea |
1.5 |
Australia |
1.2 |
Switzerland |
1.1 |
Net
Current
Liabilities |
-1.2 |
|
----- |
|
100.0 |
|
===== |
|
|
#
Top 10
Holdings |
Country |
% Total
Assets |
Citigroup |
United
States |
3.6 |
American
International |
United
States |
3.0 |
Shell |
United
Kingdom |
2.6 |
Kraft
Heinz |
United
States |
2.5 |
Cardinal
Health |
United
States |
2.5 |
Baxter
International |
United
States |
2.4 |
Johnson
Controls
International |
United
States |
2.4 |
Cisco
Systems |
United
States |
2.4 |
Verizon
Communications |
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 March 2024, the Company’s NAV
increased by 4.9% and the share price by 7.9% (all in sterling).
The Company’s reference index, the Russell 1000 Value Index,
returned +5.1% for the period.
The largest contributor to
relative performance stemmed from stock selection in industrials,
with investment decisions in building products boosting relative
performance. Selection decisions in health care also boosted
relative performance, most notably in health care equipment and
supplies. Other modest contributors during the period at the sector
level included selection decisions in consumer discretionary and
information technology.
The largest detractor from
relative performance stemmed from stock selection in energy, most
notably in oil, gas and consumable fuels. Selection decisions in
consumer staples detracted from relative performance, with stock
selection in consumer staples distribution and retail proving to be
detrimental. Other modest detractors during the period included
stock selection in utilities, with the cash position also weighing
down relative performance.
Transactions
During the month, the Company’s
largest purchases included WPP. The Company exited its position in
Acuity Brands.
Positioning
As of the period end, the
Company’s largest overweight positions relative to the reference
index were in the health care, information technology and consumer
discretionary sectors. The Company’s largest underweight positions
relative to the reference index were in the industrials, real
estate and utilities
sectors.
Source:
BlackRock.
17 April
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.