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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Blackrock North American Income Trust Plc | LSE:BRNA | London | Ordinary Share | GB00B7W0XJ61 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 183.50 | 181.00 | 183.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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TIDMBRNA
BLACKROCK NORTH AMERICAN INCOME TRUST plc (LEI: 549300WWOCXSC241W468)
All information is at 31 March 2017 and unaudited.
Performance at month end with net income reinvested
One Three Six One Three Since
Month Months Months Year Years Launch*
Net asset value -1.0% 1.9% 16.0% 36.7% 68.5% 101.8%
Share price -2.6% -5.2% 11.2% 36.8% 64.4% 85.6%
Russell 1000 Value Index -1.5% 2.0% 14.4% 37.0% 71.1% 128.0%
Source: BlackRock
*Launched on 24 October 2012.
At month end
Net asset value - capital only: 170.41p
Net asset value - cum income: 171.33p
Share price: 159.50p
Discount to cum income NAV: 6.9%
Net yield*: 3.0%
Total assets including current year revenue: GBP118.1m
Gearing: Nil
Options overwrite: 16.67%
Ordinary shares in issue**: 68,949,044
Ongoing charges***: 1.04%
*Based on dividends of 1.20p per share declared on 21 February 2017, 3 November
2016, 3 August 2016 and 4 May 2016.
** Excluding 31,412,261 ordinary shares held in treasury.
*** 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 2016.
Benchmark
Sector Analysis Total Assets (%)
Financials 27.0
Health Care 14.3
Industrials 10.8
Energy 10.6
Information Technology 9.6
Consumer Staples 6.5
Consumer Discretionary 5.4
Utilities 5.0
Materials 3.6
Telecommunication Services 2.1
Net current assets 5.1
-----
100.0
=====
Country Analysis Total Assets (%)
USA 84.5
United Kingdom 2.8
Canada 2.2
France 2.2
Netherlands 2.1
Ireland 0.7
China 0.4
Net current assets 5.1
-----
100.0
=====
Ten Largest Investments
Company Country of Risk Total Assets (%)
JP Morgan Chase USA 4.4
Bank of America USA 4.2
Pfizer USA 3.7
Citigroup USA 3.2
Wells Fargo USA 2.9
Dow Chemical USA 2.7
General Electric USA 2.5
Oracle USA 2.5
Microsoft USA 2.4
Anthem USA 2.2
Bob Shearer and Tony DeSpirito, representing the Investment Manager, noted:
Performance
For the month of March, the Company's NAV decreased by 1.0% while the share
price fell by 2.6% (all in sterling). The Company's benchmark, the Russell
1000 Value Index, returned -1.5% for the period.
The largest contributor to relative performance during the month was stock
selection in the information technology sector. Notably, selection decisions
in the software and technology hardware, storage & peripherals industries
proved to be beneficial. Stock selection in health care also added to relative
returns, led by portfolio holdings in the pharmaceuticals and health care
providers & services industries. Lastly, stock selection in the industrials
and materials sectors also added to relative returns during the month.
The largest detractor from relative performance was stock selection in the
financials sector. Notably, our overweight positions in Morgan Stanley and
Bank of America Corporation proved to be costly. Other modest detractors
included stock selection in the utilities, consumer staples and energy sectors
during the period.
Transactions/Options
Transactions: Notable portfolio transactions during the month included exiting
our positions in Intel Corporation, CMS Energy Corporation, Raytheon Company
and Pioneer Natural Resources Company. Proceeds from these trades were used to
initiate a position in Constellation Software Inc. and to increase our exposure
to portfolio holdings PG&E Corporation, Taiwan Semiconductor Manufacturing
Company Limited and The Dow Chemical Company.
Options: As of 31 March 2017, the Company's options exposure was 16.67% and
the delta of the options was 88.39%.
Positioning
As at the period end, the Company's largest overweight positions relative to
the benchmark were in the health care, consumer discretionary, materials and
industrials sectors. The Company was approximately equal-weight in the
financials sector, and was underweight to the real estate, consumer staples,
energy, telecommunication services, utilities and information technology
sectors.
25 April 2017
Latest information is available by typing 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.
END
(END) Dow Jones Newswires
April 25, 2017 11:28 ET (15:28 GMT)
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