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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 December 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 0.9% 3.9% 4.4% 5.2% 52.7% 108.4%
Share price -0.3% 5.6% 5.8% -1.1% 53.7% 93.7%
Russell 1000 Value Index 1.5% 4.5% 4.3% 3.8% 47.9% 132.0%
Source: BlackRock
*Launched on 24 October 2012.
At month end
Net asset value - capital only: 172.20p
Net asset value - cum income: 173.00p
Share price: 162.50p
Discount to cum income NAV: 6.1%
Net yield*: 3.0%
Total assets including current year revenue: GBP119.2m
Gearing: Nil
Options overwrite: 14.6%
Ordinary shares in issue**: 68,874,044
Ongoing charges***: 1.07%
* Based on dividends of 1.20p per share declared on 21 February 2017 and 1.25p
per share declared on 3 May 2017, 8 August 2017 and 2 November 2017.
** Excluding 31,487,261 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 2017.
Benchmark
Sector Analysis Total Assets (%)
Financials 27.6
Health Care 17.1
Energy 11.3
Industrials 9.3
Information Technology 9.0
Consumer Staples 7.1
Utilities 5.0
Consumer Discretionary 3.8
Materials 3.0
Telecommunication Services 2.8
Net current assets 4.0
-----
100.0
=====
Country Analysis Total Assets (%)
USA 78.6
Netherlands 4.5
United Kingdom 4.1
Canada 3.0
Ireland 2.3
France 1.8
Denmark 0.9
China 0.4
South Korea 0.4
Net current assets 4.0
-----
100.0
=====
Ten Largest Investments
Company Country of Risk Total Assets (%)
Bank of America USA 4.1
JPMorgan Chase USA 4.1
Pfizer USA 3.7
Citigroup USA 3.7
Wells Fargo USA 3.1
Oracle USA 2.9
Anthem USA 2.6
Royal Dutch Shell Netherlands 2.3
Microsoft USA 2.2
Verizon Communications USA 2.0
Tony DeSpirito, Franco Tapia and David Zhao, representing the Investment
Manager, noted:
For the one-month period ended 31 December 2017, the Company's NAV increased by
0.9% while the share price decreased by 0.3% (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 consumer staples sector. Notably, our selection in the
beverages industry proved to be beneficial, as seen in our overweight exposure
to Diageo and Dr. Pepper Snapple Group. In real estate, the Company benefited
from a lack of exposure, as performance was challenged during the month of
December. Stock selection in the energy sector also contributed to relative
performance during the month, most notably in the oil, gas, & consumable fuels
industry.
The largest detractor from relative performance was a combination of stock
selection and allocation decisions in the information technology sector. Most
notably, an overweight to software, an underweight to internet software &
services, and stock selection among semiconductors & semiconductor equipment
firms proved to be performance headwinds. Stock selection and allocation
decisions in industrials also proved to be costly, with relative
underperformance stemming from our selection among aerospace & defence firms
and our decision to hold overweight exposure to industrial conglomerates.
Lastly, stock selection in the materials and telecommunication services sectors
dampened relative performance, as did an elevated cash balance.
Transactions/Options
Transactions: Notable portfolio transactions during the month included
initiating new positions in Edison International and Regions Financial, while
conversely exiting our position in Johnson & Johnson.
Options: As of 31 December 2017, the Company's options exposure was 14.6% and
the delta of the options was 89.1.
Positioning
As of period end, the Company's largest overweight positions relative to the
benchmark were in the health care, financials, information technology and
materials sectors. The Company's largest underweight positions relative to the
benchmark were in the real estate, consumer discretionary and consumer staples
sectors.
Source: BlackRock.
15 January 2018
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
January 15, 2018 07:52 ET (12:52 GMT)
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