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BRNA Blackrock North American Income Trust Plc

183.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

BlackRock North Amer Portfolio Update

17/01/2019 4:35pm

UK Regulatory


 
TIDMBRNA 
 
BLACKROCK NORTH AMERICAN INCOME TRUST plc (LEI: 549300WWOCXSC241W468) 
All information is at 31 December 2018 and unaudited. 
 
Performance at month end with net income reinvested 
 
                               One    Three      Six      One    Three      Five 
                             Month   Months   Months     Year    Years     years 
 
Net asset value              -8.3%   -10.1%    -4.0%    -2.4%    41.9%     70.3% 
 
Share price                  -9.4%    -9.0%    -4.9%     3.8%    57.4%     73.0% 
 
Russell 1000 Value Index     -9.4%    -9.6%    -3.3%    -2.6%    41.6%     73.6% 
 
Source: BlackRock 
 
At month end 
 
Net asset value - capital only:                                       160.11p 
 
Net asset value - cum income:                                         161.28p 
 
Share price:                                                          161.00p 
 
Discount to cum income NAV:                                              0.2% 
 
Net yield¹:                                                              5.0% 
 
Total assets including current year revenue:                          GBP111.8m 
 
Gearing:                                                                  Nil 
 
Options overwrite:                                                      16.0% 
 
Ordinary shares in issue²:                                         69,299,044 
 
Ongoing charges³:                                                        1.1% 
 
 
¹ In line with the dividend policy announced in the Annual Report on 17 
December 2018 of dividends amounting to 8.00p per share for the year ending 31 
October 2019 and based on the share price as at close of business on 31 
December 2018. 
² Excluding 31,062,261 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 2018. 
 
Benchmark Sector Analysis                                   Total Assets (%) 
 
Financials                                                              23.7 
 
Health Care                                                             18.4 
 
Information Technology                                                  11.3 
 
Energy                                                                  10.8 
 
Industrials                                                              7.8 
 
Consumer Staples                                                         7.5 
 
Communication Services                                                   6.2 
 
Utilities                                                                3.7 
 
Consumer Discretionary                                                   2.4 
 
Materials                                                                1.8 
 
Net current assets                                                       6.4 
 
                                                                       ----- 
 
                                                                       100.0 
 
                                                                       ===== 
 
 
 
Country Analysis                                            Total Assets (%) 
 
United States                                                           75.4 
 
United Kingdom                                                           5.7 
 
Netherlands                                                              2.7 
 
Canada                                                                   2.7 
 
Switzerland                                                              2.2 
 
Ireland                                                                  2.2 
 
Germany                                                                  1.2 
 
Denmark                                                                  0.8 
 
France                                                                   0.4 
 
China                                                                    0.3 
 
Net current assets                                                       6.4 
 
                                                                       ----- 
 
                                                                       100.0 
 
                                                                       ===== 
 
 
 
Ten Largest Investments 
 
Company                               Country of Risk           Total Assets (%) 
 
Verizon Communications                            USA                        4.3 
 
Pfizer                                            USA                        4.2 
 
JPMorgan Chase                                    USA                        3.7 
 
Wells Fargo                                       USA                        3.5 
 
Citigroup                                         USA                        2.8 
 
Bank of America                                   USA                        2.8 
 
Anthem                                            USA                        2.7 
 
Oracle                                            USA                        2.6 
 
Microsoft                                         USA                        2.4 
 
Astrazeneca                            United Kingdom                        2.1 
 
Tony DeSpirito, Franco Tapia and David Zhao, representing the Investment 
Manager, noted: 
 
For the one-month period ended 31 December 2018, the Company's NAV and share 
price fell by 8.3% and 9.4% respectively. The Company's benchmark, the Russell 
1000 Value Index, returned -9.4% during the period (all performance figures are 
in sterling terms). 
 
The portfolio's cash position, which averaged 8.1% during the month, was a 
significant contributor to relative performance amid falling U.S. stock prices. 
In health care, stock selection in the pharmaceuticals industry also boosted 
relative performance. Other notable contributors included stock selection in 
the consumer staples and industrials sectors. 
 
The largest detractor from relative performance was investment decisions in the 
financials sector. Notably, an overweight to the banks industry and a 
combination of stock selection and an underweight to diversified financial 
services proved costly. In utilities, an underweight to multi-utilities and 
electric utilities also weighed on relative returns. Other detractors during 
the month included an underweight to the real estate and materials sectors. 
 
The portfolio's option overwriting strategy contributed to portfolio returns in 
December. 
 
Transactions/Options 
 
Transactions: In December, new portfolio positions were initiated in Apple, 
Masco Corporation and Baker Hughes, a GE company. The portfolio's exposure to 
Dollar General Corporation, Humana, Samsung Electronics and Novartis AG were 
also increased during the month. Conversely, we exited our positions in 
Experian, Brighthouse Financial and nVent Electric We also trimmed our 
positions in U.S. Bancorp, UnitedHealth Group, Citigroup and CDW Corporation. 
 
Options:  As of 31 December 2018, the Company's options exposure was 16.0% and 
the delta of the options was 89.6. 
 
Positioning 
 
As of the period end, the Company's largest overweight positions relative to 
the benchmark were in the health care, information technology and energy 
sectors. The Company's largest underweight positions relative to the benchmark 
were in the real estate, utilities and consumer discretionary sectors. 
 
Source: BlackRock as at 31 December 2018. 
 
17 January 2019 
 
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 17, 2019 11:35 ET (16:35 GMT)

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