BlackRock Sustainable American Income Trust Plc Portfolio Update

 
TIDMBRSA 
 
The information contained in this release was correct as at 31 May 2022. 
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 May 2022  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                1.5%     4.2%     9.6%    14.2%    43.0%    60.2% 
 
Share price                   -2.9%     3.5%     4.8%    12.2%    31.3%    63.0% 
 
Russell 1000 Value Index       1.6%     5.3%     6.6%    13.8%    43.4%    61.2% 
 
At month end 
 
Net asset value - capital only:                                                 215.50p 
 
Net asset value - cum income:                                                   215.51p 
 
Share price:                                                                    202.00p 
 
Discount to cum income NAV:                                                        6.3% 
 
Net yield1:                                                                        4.0% 
 
Total assets including current year revenue:                                    £172.9m 
 
Gearing:                                                                           4.1% 
 
Ordinary shares in issue2:                                                   80,229,044 
 
Ongoing charges3:                                                                  1.1% 
 
1 Based on two quarterly interim dividends of 2.00p per share declared on 5 
August 2021 and 3 November 2021 for the year ended 31 October 2021, and two 
quarterly dividends of 2.00p per share declared on 22 March 2022 and 11 May 
2022 for the year ending 31 October 2022 and based on the share price as at 
close of business on 31 May 2022. 
 
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 2021. 
 
Sector Analysis           Total Assets 
                                   (%) 
 
Financials                        20.8 
 
Health Care                       19.6 
 
Information Technology            14.7 
 
Consumer Discretionary             9.8 
 
Energy                             8.3 
 
Materials                          7.1 
 
Communication Services             6.3 
 
Consumer Staples                   5.0 
 
Utilities                          4.5 
 
Industrials                        4.4 
 
Real Estate                        0.9 
 
Net Current Liabilities           -1.4 
 
                                  ---- 
 
                                 100.0 
 
                                 ===== 
 
 
 
 
Country Analysis         Total Assets 
                                  (%) 
 
United States                    82.4 
 
United Kingdom                    5.4 
 
Japan                             4.8 
 
France                            3.3 
 
Canada                            2.1 
 
Australia                         1.9 
 
Switzerland                       1.5 
 
Net Current Liabilities          -1.4 
 
                                ----- 
 
                                100.0 
 
                                ===== 
 
 
 
 
Top 10 Holdings                                  Country              % Total 
                                                                       Assets 
 
AstraZeneca                                      United Kingdom           3.7 
 
Verizon Communications                           United States            3.5 
 
Sanofi                                           France                   3.4 
 
Cisco Systems                                    United States            2.9 
 
Komatsu                                          Japan                    2.8 
 
Cigna                                            United States            2.8 
 
Wells Fargo                                      United States            2.7 
 
Willis Towers Watson                             United States            2.6 
 
Citigroup                                        United States            2.5 
 
Hess                                             United States            2.5 
 
 
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, 
noted: 
 
For the one-month period ended 31 May 2022, the Company's NAV increased by 1.5% 
and the share price decreased by 2.9% (all in sterling). The Company's 
reference index, the Russell 1000 Value Index, returned +1.6% for the period. 
 
The largest contributor to relative performance was investment decisions in the 
consumer staples sector. Specifically, an underweight allocation to the food 
and staples retailing industry helped relative returns, as did selection 
decisions in the household products industry. Investment decisions within 
industrials boosted relative results, mainly due to stock selection within the 
machinery industry. Other contributors during the period included allocation 
decisions within the real estate sector. 
 
The largest detractor from relative performance was due to stock selection in 
the information technology sector. Specifically, selection decisions within IT 
services and allocation decisions within communications equipment dampened 
relative results. Our stock selection within materials also hurt relative 
returns. Within utilities, selection decisions in the multi-utilities industry 
proved costly. 
 
Transactions 
 
Notable new purchases in the portfolio during the month included Humana, 
Western Digital and Axalta Coating Systems. The Company added to its positions 
in JPMorgan Chase, General Motors, Newell Brands and Sealed Air. Conversely, 
the Company trimmed its positions in Anthem, CDK Global, Steel Dynamics and 
Comerica. Lastly, the only complete sale in the portfolio during the month was 
Novo-Nordisk. 
 
Positioning 
 
As of the period end, the Company's largest overweight positions relative to 
the reference index were in the information technology, consumer discretionary 
and materials sectors. The Company's largest underweight positions relative to 
the reference index were in the industrials, real estate and consumer staples 
sectors. 
 
Source: BlackRock. 
 
20 June 2022 
 
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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

June 20, 2022 12:06 ET (16:06 GMT)