(An item published at BST 1103 contained an error due to a mistake by the issuer. The correct version follows.)
LONDON (Alliance News) - BlackRock Commodities Income Investment Trust PLC Friday said that its net asset value per share returned 7.9% and the share price returned 5.2%, with both percentages in sterling terms with income reinvested, during the six months to the end of May.
On May 31, the trust's NAV per share was 110.90 pence. Its mid-market share price was 112.00 pence.
The trust said that its NAV has increased by 2.4% and the share price by 4.9%, also with income reinvested, since the end of that period.
"Our managers consider that the downside risks associated with current commodity prices are now relatively low, although there remains some uncertainty surrounding economic activity in China," Chairman Alan Hodson said in a statement.
"The mining industry has significantly reduced its capital commitments over the last two years and this has translated into greater free cash flow for the sector overall, which should be supportive of dividends in the medium term," Hodson said.
"Whilst the improving environment has allowed many of the portfolio's holdings to increase dividends moderately during the period, the strength of sterling has been a headwind. Nonetheless, at the time of writing we remain on track to meet our dividend target," Hodson added.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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