BlackRock Energy & Resources Income Trust PLC - energy-focused investment trust - Net asset value ends November 30 at 80.76 pence, up 7.3% from 75.28p at the same point the year before. Total dividend unchanged at 4.0p. Annual NAV total return 13.9%.
Notes does not formally benchmark performance against mining and energy sector indices as meeting a specific dividend target is not within the scope of these indices. However, says the EMIX Global Mining Index rose by 19.6% and the MSCI World Energy Index fell by 32.6% over the same period.
Says NAV per share gained further 10% since end of November to start of February.
Investment Managers Tom Holl and Mark Hume says: "The second half of 2020 saw a step-change in the pace of the evolution of the portfolio. By July we had moved around 30% of the NAV into companies across the energy transition spectrum.
"We initiated positions in a select number of utilities who are driving their business forward with significant expansion of their renewables generation capacity. We also invested in a number of semiconductor companies whose products are vital enablers of key components in electric vehicles, as well as having many other applications in the energy transition."
Managers notes the conventional energy sector underperformed the mining and energy transition sectors materially from June through to November, which was a benefit to its portfolio.
Current stock price: 82.20 pence
Year-to-date change: up 4.9%
By Paul McGowan; paulmcgowan@alliancenews.com
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Blackrock Engy (BERI)