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BlackRock Commodities Annual Assets Decrease On US China Trade Worries

Mon, 28th Jan 2019 18:33

LONDON (Alliance News) - BlackRock Commodities Income Investment Trust PLC late Monday reported a decrease in assets for the year ended November 30.

BlackRock Commodities Income NAV per share at November 30 stood at 75.87 pence each compared to 76.92p a year ago, a 1.4% decrease.

The investment trust's net assets decreased 3.6% in the same period to GBP88.1 million from GBP91.4 million.

BlackRock Commodities Income declared a fourth interim dividend of 1.0p, taking its total for the year to 4.0p - both flat on the year before.

The trust said its decrease in assets can be attributed to market movements and a buy back of shares during the period.

Chair Ed Warner said: "The year under review was marked by a mid-year u-turn in investor sentiment, with gains made through a strong first half being reversed as markets became increasingly nervous over the prospects for global growth. Heightened trade tensions between the US and China, a slowdown in Chinese demand and the oil market moving into a position of oversupply all contributed to market concerns."

Shares in BlackRock Commodities Income Investment closed down 0.6% at 69.80 pence each.