LONDON (Alliance News) - BlackRock Commodities Income Investment Trust PLC on Thursday expressed apositive attitude after its net asset value improved over the first half of its current financial year.
Net asset value per share grew to 88.28 pence in the six moths to the end of May compared to 76.92p as at the end of November the prior year.
The share price stood at 81.20p at the end of the period, representing a 8.3% discount to NAV. The stock was trading 0.5% higher on the day Thursday at 82.59p per share.
BlackRock declared an interim dividend of 1.00 per share, unchanged from the prior year.
The company reported a NAV total return of 17.7%. Although it does not have a formal benchmark, BlackRock compared its results with the EMIX Global Mining Index, which rose by 13.0% and the MSCI World Energy Index, which increased by 12.1% over the same period.
"Even given the recent positive performance in the sector, there are still compelling reasons for investors to remain optimistic," said Chairman Ed Warner.
"The portfolio management team is positive on the outlook for the natural resources sector as a whole for the rest of 2018 given the current backdrop of solid global economic growth," added Warner.
