BlackRock Sustainable American Income Trust Plc Portfolio Update

 
TIDMBRSA 
 
BLACKROCK SUSTAINABLE AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468) 
All information is at 31 July 2023 and unaudited. 
Performance at month end with net income reinvested 
 
 
              OneMonth  ThreeMonths  SixMonths  OneYear  ThreeYears  Five 
                                                                     Years 
Net asset       2.2         3.6        -3.3      -0.6       43.5     41.1 
value 
Share price     2.7        -0.2        -2.9      -2.9       39.0     37.6 
Russell 1000    2.3         3.7        -1.0       2.4       51.7     49.9 
Value Index 
 
At month end 
 
[][][] 
Net asset value - capital only:                  204.57p 
Net asset value - cum income:                    205.16p 
Share price:                                     191.00p 
Discount to cum income NAV:                         6.9% 
Net yield[1]:                                       4.2% 
Total assets including current year revenue:     £164.6m 
Net gearing:                                        0.8% 
Ordinary shares in issue[2]:                  80,229,044 
Ongoing charges[3]:                                1.01% 
 
[1] Based on one quarterly dividend of 2.00p per share declared on 2 November 
2022 for the year ended 31 October 2022 and three quarterly dividends of 2.00p 
per share declared on 22 March 2023, 11 May 2023 and 3 August 2023 for the year 
ending 31 October 2023 and based on the share price as at close of business on 
31 July 2023. 
 
² Excluding 20,132,261 ordinary shares held in treasury. 
 
³ The Company's ongoing charges calculated as a percentage of average daily net 
assets and using the management fee and all other operating expenses excluding 
finance costs, direct transaction costs, custody transaction charges, VAT 
recovered, taxation and certain non-recurring items for the year ended 31 
October 2022. 
 
Sector Analysis          Total Assets (%) 
Health Care                          20.4 
Financials                           19.4 
Information Technology               13.5 
Consumer Discretionary               12.1 
Industrials                           9.1 
Energy                                8.4 
Consumer Staples                      6.2 
Communication Services                3.9 
Utilities                             3.4 
Materials                             3.1 
Real Estate                           1.3 
Net Current Liabilities              -0.8 
                                    ----- 
                                    100.0 
                                    ===== 
 
Country Analysis         Total Assets (%) 
United States                        85.3 
United Kingdom                        5.9 
Japan                                 3.9 
France                                1.9 
Australia                             1.8 
Canada                                1.3 
Denmark                               0.7 
Net Current Liabilities              -0.8 
                                    ----- 
                                    100.0 
                                    ===== 
 
Top 10 Holdings                    Country         % Total Assets 
Laboratory Corporation of America  United States              2.9 
Cisco Systems                      United States              2.8 
Cognizant Technology Solutions     United States              2.7 
Kraft Heinz                        United States              2.6 
Shell                              United Kingdom             2.6 
Baxter International               United States              2.6 
Citigroup                          United States              2.5 
Cigna                              United States              2.5 
American International             United States              2.5 
Willis Towers Watson               United States              2.5 
 
Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, 
noted: 
 
For the one-month period ended 30 June 2023, the Company's NAV increased by 2.2% 
and the share price by 2.7% (all in sterling). The Company's reference index, 
the Russell 1000 Value Index, returned +2.3% for the period. 
 
The largest contributor to relative performance, stemmed from stock selection in 
industrials, particularly in ground transportation and machinery. Selection 
decisions in materials also boosted relative performance, with stock selection 
in containers & packaging proving beneficial. Other modest contributors during 
the period at the sector level included stock selection in consumer staples and 
consumer discretionary. 
 
The largest detractor from relative performance stemmed from selection decisions 
in financials, notably stock selection in insurance weighed on the relative 
performance. An overweight allocation to health care at the sector level, with 
stock selection in life sciences tools and services and health care equipment 
and supplies at the industry level proved costly. Other modest detractors during 
the period included stock selection in information technology and energy. 
 
Transactions 
 
During the month, the Company purchased Crown Castle, International Flavors and 
Fragrances and Unilever. The Company exited its positions in PPG Industries, 
CBRE Group and Charles Schwab. 
 
Positioning 
 
As of the period end, the Company's largest overweight positions relative to the 
reference index were in the health care, consumer discretionary and information 
technology sectors. The Company's largest underweight positions relative to the 
reference index were in the industrials, real estate and materials sectors. 
 
Source: BlackRock. 
 
22 August 2023 
 
Latest information is available by typing 
blackrock.com/uk/brsa (http://www.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. 
 
 
This information was brought to you by Cision http://news.cision.com 
The following files are available for download: 
https://mb.cision.com/Main/22399/3821635/2242765.pdf Release 
 
 
END 
 
 

(END) Dow Jones Newswires

August 22, 2023 12:17 ET (16:17 GMT)