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BlackRock World Mng (BRWM)

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Tuesday 17 April, 2018

BlackRock World Mng

Research Update

BlackRock World Mining Trust: Research update    

12 April 2018

2017 represented a return to outperformance for the managers, as well as marking another very strong performance in absolute terms Click here to read the full report


  • 2017 saw a very strong performance in absolute terms

  • Managers remain positive on prospects based on fundamentals and observe valuations remain within the mid-cycle range (in contrast to global equities, which are at historical peaks) with significant upside using current commodity prices

  • Reflecting optimism, the team have been investing into small- and mid-cap opportunities, whilst the main core of the portfolio remains in higher-quality large caps, more disciplined in capital allocation, and paying down debt and derisking their businesses

  • Full-year covered dividend now confirmed at 15.6p per share for 2017. The yield of 4.1% compares to other Global Equity Income trusts (average yield 3.7%) and the IA Global Equity Income sector yield of 3.1%

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