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Blackrock Income and Growth Investment Trust Plc August 2021

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Blackrock Income and Growth Investment Trust Plc August 2021 BlackRock Income and Growth Investment Trust plc August 2021 The information contained in this release was correct as at 31 August 2021. Key risk factors Information on the Company’s up to date net asset values can be found on the Capital at risk The value of London Stock Exchange website at: investments and the income from https://www.londonstockexchange.com/exchange/news/market- them can fall as well as rise and are news/market-news-home.html not guaranteed. Investors may not get back the amount originally Company objective invested. To provide growth in capital and income over the long term through The companies investments may be investment in a diversified portfolio of principally UK listed equities. subject to liquidity constraints, which means that shares may trade Fund information (as at 31/08/21) less frequently and in small volumes, for instance smaller companies. As a Net asset value - capital only: 201.64p result, changes in the value of investments may be more Net asset value - cum income*: 205.04p unpredictable. In certain cases, it may not be possible to sell the 189.00p security at the last market price Share price: quoted or at a value considered to be fairest. Total assets (including income): £48.0m The Company may from time to time Discount to NAV (cum income): 7.8% utilise gearing. A fuller definition of gearing is given in the glossary. Gearing: 5.9% The latest performance data can be found on the BlackRock Investment Net yield**: 3.8% Management (UK) Limited website at blackrock.com/uk/brig. Ordinary shares in issue***: 21,459,392 Gearing range (as a % of net assets) 0-20% Ongoing charges****: 1.2% The figures shown relate to past performance. Past performance is not a reliable indicator of BlackRock Income and Growth was awarded the current or future results and should not be the sole factor of consideration when selecting a income rating. product or strategy. Kepler Rating: As at 30 January 2020 * includes net revenue of 3.40 pence per share Past performance is not a reliable indicator of current ** The Company’s yield based on dividends announced in the last 12 months as at the date of the release of or future results. this announcement is 3.8% and includes the 2020 final dividend of 4.60p per share declared on 01 February 2021 and paid to shareholders on 17 March 2021 and the 2021 interim dividend of 2.60p per share declared on 23 June 2021 with a pay date of 1 September 2021. *** excludes 10,081,532 shares held in treasury **** Calculated as a percentage of average net assets and using expenses, excluding performance fees and blackrock.com/uk/brig interest costs for the year ended 31 October 2020. See glossary for further explanation of terms used. RETH0921E/S-1846504-1/7 Annual performance to the last quarter end (as at 30/06/21) % of total 30/06/20 30/06/19 30/06/18 30/06/17 30/06/16 Sector allocations (as at 31/08/21) 30/06/21 30/06/20 30/06/19 30/06/18 30/06/17 assets % % % % % Support Services 12.6 Net asset 18.7 -9.8 -1.3 7.8 18.4 Financial Services 8.7 value Pharmaceuticals & Biotechnology 8.2 Share price 18.2 -12.3 -2.1 7.7 20.6 Household Goods & Home 8.1 Benchmark1 21.5 -13.0 0.6 9.0 18.1 Construction Mining 6.1 Cumulative performance (as at 31/08/21) Personal Goods 5.2 Since Oil & Gas Producers 5.1 Sterling 1M% 3M% 1Y% 3Y% 5Y% 1 April 20122 Media 4.8 Share price -3.1 3.0 19.5 3.7 21.3 100.2 Banks 4.6 Net asset value 2.6 2.5 23.9 8.7 27.9 97.4 Life Insurance 4.4 Benchmark1 2.7 3.4 26.9 11.4 33.3 92.4 Nonlife Insurance 4.3 Travel & Leisure 4.0 The figures shown relate to past performance. Past performance is not a reliable indicator of current or futureresults andshouldnot be the solefactorof considerationwhen selectinga productor strategy. Tobacco 3.8 The latest performance data can be found on our website: www.blackrock.com/uk/brig General Retailers 3.3 The above Net Asset Value (NAV) performance statistics are based on a NAV including income, with any Health Care Equipment & Services 2.9 dividends reinvested on the ex-dividend date, net of ongoing charges and any applicable performance fee. Food & Drug Retailers 2.2 A fuller definition of ongoing charges (which includes the annual management fee) is given in the glossary. Details of the management fee are given in the key company details section overleaf. The Company does Electronic & Electrical Equipment 1.5 not have a performance fee. General Industrials 1.4 Share price performance figures are calculated on a mid market basis in sterling terms with income reinvested on the ex-dividend date. Electricity 1.4 Source: BlackRock, Datastream Industrial Metals & Mining 1.2 1 The Company’s benchmark is the FTSE All-Share Index (on a total return basis). Food Producers 1.0 2 BlackRock took over the investment management of the Company with effect from 1 April 2012. Real Estate Investment Trusts 1.0 *Ten largest investments (in % total assets order 31/08/21) Technology Hardware & Equipment 0.7 Company % of total assets Industrial Engineering 0.6 AstraZeneca 6.5 Net Current Assets 2.9 RELX 4.8 Total 100.0 Reckitt Benckiser 4.0 Rio Tinto 4.0 Unilever 3.9 Royal Dutch Shell ‘B’ 3.8 British American Tobacco 3.8 Ferguson 3.2 Electrocomponents 3.0 3i 2.9 * These percentages reflect portfolio exposure per stock and include more than one holding per stock where relevant. Holdings are as at the date shown and do not necessarily represent current or future portfolio holdings. Risk: The specific companies identified and described above do not represent all of the companies purchased or sold, and no assumptions should be made that the companies identified and discussed were or will be profitable. RETH0921E/S-1846504-2/7 Comments from the Portfolio Managers Please note that the commentary below includes historic information in respect of index performance data and the Company’s NAV performance. The figures shown relate to past performance. Past MasterCard was the top detractor during the period on the performance is not a reliable indicator of current or back of stalled travel recovery which has reduced its most future results. profitable cross-border revenue streams. We believe this is a delay in revenue rather than a loss in revenue. Smiths Performance Overview: Group was another top detractor during the period; the company agreed the sale of their Medical business for a The Company returned 2.6% during the month, lower than expected price. Rio Tinto also fell following the underperforming the FTSE All-Share which returned payment of a large dividend and further Chinese curbs on 2.7%. steel production saw the price of Iron Ore fall. Market Summary: Portfolio Activity: Global equities markets rose during August despite During the period, we sold Hemnet Group, the Swedish growing concern around rising Delta variant virus cases. property portal, given the share price doubled since we Risk assets were helped by the FDA granting full approval purchased the holding and we felt there was no more to the Pfizer/BioNTech vaccine and U.S. Treasury yields upside to the valuation. We also added to Whitbread and remaining low. Electrocomponents and reduced Smiths Group and Grafton. Federal Reserve Chair Jerome Powell reassured markets at the Jackson Hole symposium, making no Outlook: announcement on tapering but giving a strong signal that one will come before year-end if employment gains keep After five years under a Brexit-induce cloud, the relative up. position of the UK in the eyes of global investors appears to have improved, helped by the vaccination programme, Flash Purchasing Manager’s Index readings for August and evidenced by the resurgence in takeover activity as suggested that UK economic momentum eased to a six- bidders look to capitalise on the discount at which UK month low, with constraints from stretched supply chains equities trade relative to global peers. Specifically, we’ve and staff shortages even as the employment measures hit seen acquisitions of real assets potentially demonstrating series record highs. The post-furlough outlook brightened a desire to find unlevered free cash flow. with few signs of any increase in current or planned redundancies. The key messages from the Bank of The pandemic has generated an economic cycle unlike England’s August Monetary Policy Committee any other with unprecedented fiscal and monetary deliberations and Monetary Policy Report were that the responses. Despite the continuation of COVID-19 peak in UK inflation is now forecast to be significantly restrictions globally, economic activity has been less higher than previously expected and that the Bank will impacted as consumers and corporates in Developed begin to reduce its stock of bonds once bank rate returns Markets have adapted their behaviours since the to 0.5% development of an effective vaccine. Concerns have been raised around new variants; however, recovery has been The FTSE All Share rose 2.7% during August with buoyed by ongoing monumental monetary and fiscal Technology, Industrials and Consumer Services as top support. performing sectors while Basic Materials underperformed. We have seen during this results season, that the growth Stocks: in economic activity has caused some strains on supply chains with specific industry shortages as well as building The Company benefitted from a strong backdrop in UK inflationary pressures.
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