BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at
Performance at month end with net income reinvested
|
|
One Month |
Three Months |
Six Months |
One Year |
Three Years |
Five Years |
|
Net asset value |
3.9 |
8.4 |
-2.5 |
1.0 |
13.3 |
63.5 |
|
Share price |
5.2 |
8.4 |
-0.3 |
5.2 |
13.2 |
62.1 |
|
Russell 1000 Value Index |
4.1 |
8.7 |
-4.3 |
5.6 |
24.4 |
84.2 |
|
Russell 1000 Value Index (Net 15% WHT Total Return)*
|
4.1 |
8.6 |
-4.5 |
5.3 |
23.1 |
81.2
|
*The Company’s performance reference index (the Russell 1000 Value Index) may be calculated on either a gross or a net return basis. Net return (NR) indices calculate the reinvestment of dividends net of withholding taxes using the tax rates applicable to non-resident institutional investors and hence give a lower total return than indices where calculations are done on a gross basis. As the Company is subject to the same withholding tax rates for the countries in which it invests, the NR basis is felt to be the most accurate, appropriate, consistent and fair comparison of performance returns for the Company.
At month end
|
Net asset value - capital only: |
214.77p |
|
Net asset value - cum income: |
215.53p |
|
Share price: |
204.00p |
|
Discount to cum income NAV: |
5.3% |
|
Net yield 1 : |
5.0% |
|
Total assets including current year revenue: |
£121.6m |
|
Net gearing: |
Nil |
|
Ordinary shares in issue 2 : |
56,431,142 |
|
Ongoing charges 3 : |
1.06% |
1
Based on one quarterly dividend of 2.00p per share declared on
² Excluding 38,930,163 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
|
Sector Analysis |
Total Assets (%) |
|
Financials |
22.1 |
|
Industrials |
12.9 |
|
Information Technology |
12.6 |
|
Health Care |
12.4 |
|
Consumer Discretionary |
9.1 |
|
|
7.5 |
|
Consumer Staples |
6.9 |
|
Energy |
5.6 |
|
Utilities |
4.3 |
|
Real Estate |
3.1 |
|
Materials |
2.9 |
|
Net Current Assets |
0.6 |
|
|
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|
|
100.0 |
|
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|
|
|
|
Country Analysis |
Total Assets (%) |
|
|
99.4 |
|
Net Current Assets |
0.6 |
|
|
----- |
|
|
100.0 |
|
|
===== |
|
|
|
#
|
Top 10 Holdings |
Country |
% Total Assets |
|
Alphabet |
|
3.1 |
|
JPMorgan Chase |
|
3.1 |
|
Berkshire Hathaway |
|
2.7 |
|
Amazon |
|
2.7 |
|
Walmart |
|
2.6 |
|
Bank Of America |
|
2.3 |
|
Morgan Stanley |
|
1.8 |
|
|
|
1.8 |
|
Exxon Mobil |
|
1.7 |
|
Pfizer |
|
1.6 |
|
|
|
|
|
|
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For the month ended
US equity market gains were supported by growing expectations for
At a sector level, the Company saw strong outperformance from Financials generally counteracted by weaker performance in Industrials. Within Financials, Charles Schwab,
Security selection within Industrials did not help performance especially within Aerospace and Defence and
The largest single stock driver of positive active performance came from a relatively large underweight to IBM. IBM’s share price stumbled with high expectations on earnings given the recent bull run from
The largest single stock driver to relative underperformance came from Centene. Centene shares took a hit after they withdrew their earnings forecast when new industry data showed a significant drop in expected revenue from its marketplace health insurance plans. This stock was overweight in part due to tactical signals identifying stocks that perform well on large market down days.
1
Reuters, “Centene plunges after pulling forecast”,
Source: BlackRock.
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.
Release |