BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC
(LEI:549300WWOCXSC241W468)
All information is at 30 April
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
|
-2.2
|
5.3
|
15.0
|
13.6
|
23.9
|
51.9
|
Share
price
|
-0.6
|
7.0
|
15.9
|
6.5
|
12.8
|
35.3
|
Russell 1000
Value Index
|
-3.4
|
6.0
|
14.8
|
13.9
|
28.6
|
57.2
|
At month
end
Net
asset value - capital only:
|
218.15p
|
Net
asset value - cum income:
|
218.39p
|
Share
price:
|
197.50p
|
Discount to cum
income NAV:
|
9.6%
|
Net
yield1:
|
4.1%
|
Total
assets including current year revenue:
|
£168.3m
|
Net
gearing:
|
0.3%
|
Ordinary shares
in issue2:
|
77,076,813
|
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 30 April
2024.
²
Excluding 23,284,492 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
|
19.6
|
|
Health
Care
|
17.3
|
|
Information
Technology
|
13.6
|
|
Consumer
Discretionary
|
10.4
|
|
Industrials
|
8.2
|
|
Energy
|
7.5
|
|
Communication
Services
|
6.9
|
|
Consumer
Staples
|
5.5
|
|
Utilities
|
5.4
|
|
Materials
|
4.1
|
|
Real
Estate
|
1.7
|
|
Net
Current Liabilities
|
-0.2
|
|
|
-----
|
|
|
100.0
|
|
|
=====
|
|
Country
Analysis
|
Total
Assets (%)
|
United
States
|
88.6
|
United
Kingdom
|
5.6
|
France
|
2.1
|
South
Korea
|
1.7
|
Australia
|
1.2
|
Switzerland
|
1.0
|
Net
Current Liabilities
|
-0.2
|
|
-----
|
|
100.0
|
|
=====
|
|
|
|
|
|
#
Top 10 Holdings
|
Country
|
% Total Assets
|
Citigroup
|
United
States
|
3.4
|
Shell
|
United
Kingdom
|
2.9
|
American
International
|
United
States
|
2.9
|
Kraft
Heinz
|
United
States
|
2.7
|
Dollar
Tree
|
United
States
|
2.6
|
Johnson Controls
International
|
United
States
|
2.5
|
Baxter
International
|
United
States
|
2.4
|
Cardinal
Health
|
United
States
|
2.3
|
Hasbro
|
United
States
|
2.2
|
Verizon
Communications
|
United
States
|
2.2
|
|
|
|
|
Tony DeSpirito, David Zhao
and Lisa Yang, representing the
Investment Manager, noted:
For
the one-month period ended 30 April
2024, the Company’s NAV decreased by 2.2% and the share
price by 0.6% (all in sterling). The Company’s reference index, the
Russell 1000 Value Index, returned -3.4% for the period.
The
largest contributor to relative performance, stemmed from stock
selection in consumer discretionary, with selection decisions in
leisure products boosting relative performance. Selection decisions
in information technology also boosted relative performance, with
stock selection and allocation decisions in semiconductors and
semiconductor equipment particularly beneficial to relative
performance. Other modest contributors during the period at the
sector level included selection decisions in health care and
financials.
The
largest detractor from relative performance stemmed from stock
selection in consumer staples, most notably in consumer staples
distribution and retail. Allocation decisions in utilities modestly
detracted from relative performance, with an underweight allocation
in electric utilities dragging on relative performance. Other
modest detractors during the period included stock selection in
materials and an underweight allocation to industrials weighing
down relative performance.
Transactions
During the month,
the Company’s largest purchases included Electronic Arts, Sempra
and HP. The Company exited its positions in Zebra Technologies,
Visa and Dollar General.
Positioning
As of
the period end, the Company’s largest overweight positions relative
to the reference index were in the health care, consumer
discretionary and communication services sectors. The Company’s
largest underweight positions relative to the reference index were
in the industrials, real estate and financials sectors.
Source:
BlackRock.
23 May 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.