BlackRock Sustainable American Income Trust Plc Portfolio Update

 
TIDMBRSA 
 
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    Three      Six      One    Three     Five 
                              Month   Months   Months     Year    Years    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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

November 23, 2021 08:02 ET (13:02 GMT)