The information contained in this release was correct as at
31 October 2021. Information on the
Company’s up to date net asset values can be found on the London
Stock Exchange Website at:
https://www.londonstockexchange.com/exchange/news/market-news/market-news-home.html.
BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC
(LEI:549300WWOCXSC241W468)
All information is at 31 October
2021 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 |
3.6% |
7.0% |
6.2% |
36.0% |
34.5% |
59.8% |
| Share price |
3.8% |
9.2% |
2.3% |
42.4% |
34.4% |
57.5% |
| Russell 1000 Value Index |
3.4% |
4.9% |
6.5% |
35.6% |
37.8% |
59.7% |
At month end
| Net asset value - capital only: |
205.42p |
| Net asset value - cum income: |
206.09p |
| Share price: |
198.25p |
| Discount to cum income NAV: |
3.8% |
| Net yield1: |
4.0% |
| Total assets including current year
revenue: |
£165.3m |
| Gearing: |
Nil |
| Ordinary shares in
issue2: |
80,229,044 |
| Ongoing charges3: |
1.1% |
1 Based on four quarterly interim dividends of 2.00p
per share declared on 23 March 2021,
5 May 2021, 5
August 2021 and 3 November
2021 for the year ended 31 October
2021, and based on the share price as at close of business
on 29 October 2021.
² Excluding 20,132,261 ordinary shares held in treasury.
³ Ongoing charges represent the management fee and all other
operating expenses excluding interest as a % of average
shareholders’ funds for the year ended 31
October 2020.
| Sector Analysis |
Total Assets
(%) |
| Financials |
25.3 |
| Health Care |
18.5 |
| Information Technology |
14.9 |
| Consumer Discretionary |
11.3 |
| Communication Services |
5.7 |
| Energy |
5.3 |
| Utilities |
5.2 |
| Industrials |
4.9 |
| Consumer Staples |
3.9 |
| Materials |
3.9 |
| Real Estate |
0.9 |
| Net Current Assets |
0.2 |
|
---- |
|
100.0 |
|
===== |
| Country Analysis |
Total Assets
(%) |
| United States |
79.3 |
| Japan |
4.8 |
| United Kingdom |
3.5 |
| France |
3.3 |
| Canada |
2.7 |
| Switzerland |
1.9 |
| Norway |
1.8 |
| Australia |
1.3 |
| Denmark |
1.2 |
| Net Current Assets |
0.2 |
|
----- |
|
100.0 |
|
===== |
|
| Top 10 Holdings |
Country |
% Total
Assets |
| Cisco Systems |
United States |
4.0 |
| AstraZeneca |
United Kingdom |
3.5 |
| Comerica |
United States |
3.4 |
| Wells Fargo |
United States |
3.3 |
| Cognizant Technology Solutions |
United States |
3.2 |
| Komatsu |
Japan |
3.0 |
| Zimmer Biomet |
United States |
2.9 |
| American International Group |
United States |
2.9 |
| SS&C Technologies Holdings |
United States |
2.8 |
| Ralph Lauren |
United States |
2.5 |
|
Tony
DeSpirito, David Zhao and
Lisa Yang, representing the
Investment Manager, noted:
For the one-month period ended 31 October
2021, the Company’s NAV increased by 3.6% and the share
price by 3.8% (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 was security
selection in the information technology sector. Specifically,
selection decisions within software helped relative returns as did
an underweight exposure to the semiconductors and semiconductor
equipment industry. Within industrials, selection decisions boosted
relative results including stock selection within road and rail and
machinery, as well as an underweight exposure to aerospace and
defence. Consumer discretionary stock selection also proved
accretive, particularly within the specialty retail industry. Other
meaningful contributors during the period included an underweight
exposure to communication services and security decisions within
financials.
The largest detractor from relative performance was stock
selection in the energy sector, specifically the oil, gas and
consumable fuels industry. Our selection decisions in real estate
also hurt relative returns. Notably, stock choices in the equity
real estate investment trusts (REITs) proved costly as did an
underweight exposure to the sector overall. In consumer staples,
our security selection in food products also weighed on relative
returns. Other modest detractors during the period included stock
decisions in health care and utilities.
Transactions
Notable new purchases in the portfolio during the month included
CDK Global, Dollar General and EQT. Conversely, the Company exited
its position in Carrier Global, Open Text and Omnicom Group and
trimmed its positions in Danone S.A., Gildan Activewear and
Consolidated Edison.
Positioning
As of the period end, the Company’s largest overweight positions
relative to the reference index were in the consumer discretionary,
information technology and financial sectors. The Company’s largest
underweight positions relative to the reference index were in the
industrials, real estate and consumer staples sectors.
Source: BlackRock. Data as of 31 October
2021.
23 November 2021
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.