Portfolio Update

The information contained in this release was correct as at 31 January 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 January 2022  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	0.6%	3.1%	10.4%	26.6%	44.6%	55.9%
Share price	-2.8%	0.6%	9.9%	25.9%	33.7%	50.1%
Russell 1000 Value Index	-1.4%	2.3%	7.4%	26.3%	44.7%	54.4%

At month end

Net asset value - capital only:	209.98p
Net asset value - cum income:	210.56p
Share price:	197.50p
Discount to cum income NAV:	6.2%
Net yield1:	4.1%
Total assets including current year revenue:	£168.9m
Gearing:	2.9%
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 30 October 2021,and based on the share price as at close of business on 31 January 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	24.7
Health Care	17.2
Information Technology	13.8
Consumer Discretionary	10.5
Communication Services	6.2
Energy	6.0
Utilities	5.7
Materials	5.6
Industrials	5.3
Consumer Staples	4.6
Real Estate	0.9
Net Current Liabilities	-0.5
	----
	100.0
	=====

Country Analysis	Total Assets (%)
United States	82.2
Japan	4.6
United Kingdom	4.4
France	2.6
Canada	2.4
Australia	1.4
Switzerland	1.4
Germany	1.0
Denmark	0.5
Net Current Liabilities	-0.5
	-----
	100.0
	=====

Top 10 Holdings	Country	% Total Assets
Cisco Systems	United States	3.5
Wells Fargo	United States	3.1
AstraZeneca	United Kingdom	3.1
Comerica	United States	3.0
Cognizant Technology Solutions	United States	2.9
Verizon Communications	United States	2.8
Komatsu	Japan	2.7
American International	United States	2.6
Dentsply Sirona	United States	2.6
Citigroup	United States	2.6

Tony DeSpirito, David Zhao and Lisa Yang, representing the Investment Manager, noted:

For the one-month period ended 31 January 2022, the Company’s NAV increased by 0.6% and the share price decreased by -2.8% (all in sterling). The Company’s reference index, the Russell 1000 Value Index, returned -1.4% for the period.

The largest contributor to relative performance was stock selection decisions in the financials sector. Specifically, an overweight exposure to banks, in addition to stock selection within capital markets, helped relative returns. Investment decisions within industrials boosted relative results, mainly due to stock selection within the machinery industry. Other contributors during the period included stock selection within the communication services sector.

The largest detractor from relative performance was allocation decisions in the consumer discretionary sector. Specifically, investment decisions in automobiles and multiline retail dampened relative results. Our stock selection in consumer staples also hurt relative returns. In energy, our underweight allocation to the energy equipment and services industry proved costly. Other modest detractors during the period included allocation decisions within the materials sector.

Transactions

Notable new purchases in the portfolio during the month included Dentsply Sirona and JP Morgan Chase. Conversely, the Company exited its positions in Zimmer Biomet and Consolidated Edison and trimmed its positions in Novo Nordisk, Comerica and Lamb Weston.

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 financials sectors. The Company’s largest underweight positions relative to the reference index were in the industrials, real estate and consumer staples sectors.

Source: BlackRock.

21 February 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.