BlackRock American Income Trust Plc - Portfolio Update
PR Newswire
LONDON, United Kingdom, February 20
BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 31 January 2025 and unaudited.
Performance at month end with net income reinvested
| One Month | Three Months | Six Months | One Year | Three Years | Five Years |
Net asset value | 4.7 | 5.8 | 3.6 | 12.4 | 20.6 | 52.4 |
Share price | 5.5 | 11.6 | 5.5 | 17.2 | 20.1 | 38.3 |
Russell 1000 Value Index | 5.5 | 7.3 | 10.4 | 22.5 | 36.3 | 72.0 |
Russell 1000 Value Index (Net 15% WHT Total Return)*
| 5.4 | 7.2 | 10.2 | 22.1 | 35.0 | 69.1 |
At month end
Net asset value - capital only: | 226.23p |
Net asset value - cum income: | 226.70p |
Share price: | 210.00p |
Discount to cum income NAV: | 7.4% |
Net yield1: | 3.8% |
Total assets including current year revenue: | £157.2m |
Net cash: | 0.5% |
Ordinary shares in issue2: | 69,344,549 |
Ongoing charges3: | 1.03% |
1 Based on four quarterly dividends of 2.00p per share declared on 14 March 2024, 29 May 2024, 1 August 2024 and 13 November 2024 for the year ended 31 October 2024, based on the share price as at close of business on 31 January 2025.
² Excluding 31,016,756 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 2023.
Sector Analysis | Total Assets (%) |
Health Care | 17.6 |
Information Technology | 16.3 |
Financials | 16.0 |
Consumer Discretionary | 12.1 |
Communication Services | 7.9 |
Industrials | 7.5 |
Materials | 6.5 |
Energy | 5.8 |
Utilities | 4.1 |
Consumer Staples | 3.8 |
Real Estate | 1.9 |
Net Current Assets | 0.5 |
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| 100.0 |
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Country Analysis | Total Assets (%) |
United States | 89.6 |
United Kingdom | 4.4 |
France | 2.9 |
South Korea | 1.6 |
Canada | 1.0 |
Net Current Assets | 0.5 |
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| 100.0 |
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Top 10 Holdings | Country | % Total Assets |
Citigroup | United States | 4.2 |
Cardinal Health | United States | 3.1 |
Wells Fargo | United States | 3.1 |
CVS Health | United States | 2.9 |
Sanofi | France | 2.9 |
Labcorp Holdings | United States | 2.6 |
Amazon.Com | United States | 2.6 |
First Citizens BancShares | United States | 2.6 |
Willis Towers Watson | United States | 2.5 |
Sony | United States | 2.5 |
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Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, noted:
For the one-month period ended 31 January 2025, the Company's NAV increased by 4.7% and the share price by 5.5% (all in sterling). The Company's reference index, the Russell 1000 Value Index, returned +5.5% for the period.
At the sector level, the largest contributor to relative performance stemmed from stock selection in health care, with a combination of investment decisions and an overweight allocation in health care providers and services boosting relative performance. Relative performance was also boosted by security selection in financials, specifically selection decisions in banks. Other modest contributors during the period at the sector level included selection decisions in energy and consumer discretionary.
The largest detractor from relative performance stemmed from stock selection in communication services, most notably an overweight allocation in media. Selection decisions in utilities also detracted from relative performance, with an investment decision in electric utilities dragging on relative performance. Other modest detractors at the sector level included selection decisions in information technology and consumer staples.
Transactions
During the month, the Company's largest purchase was Intercontinental Exchange. The Company exited its position in Nasdaq.
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 communication services sectors. The Company's largest underweight positions relative to the reference index were in the industrials, financials and real estate sectors.
Source: BlackRock.
20 February 2025
Latest information is available by typing blackrock.com/uk/brai 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.
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