BlackRock Energy and Resources Income | Initiation of Coverage
BlackRock Energy and Resources Income Trust plc (BERI) is a differentiated proposition for investors seeking income and capital growth. Its threefold focus on mining, traditional energy and energy transition means it has the potential to perform in a range of market conditions; indeed, its holdings in more traditional commodities helped lift it to the position of the top-performing UK-listed equity investment trust in 2022, despite the growth stock sell-off having a negative impact on some of the energy transition names in the portfolio. Co-managers Mark Hume (an energy expert) and Tom Holl (a mining specialist) invest globally, and a dynamic allocation between the three segments (with a neutral position of 40% mining, 30% traditional energy and 30% energy transition) helps mitigate the impact of temporarily unfavourable conditions in any one sector. Income generation was strong in FY22, although the high level of special dividends from both mining and traditional energy stocks (which may not be repeated) led the board to exercise caution on expected dividends for FY23, holding the quarterly payout at 1.1p per share (a current yield of 3.8%). BERI's strong performance in 2022 saw its shares re-rate considerably, with more than 18m new shares issued in FY22 in order to meet demand as the shares traded at a premium to NAV. The current discount of 10.1% may therefore represent an attractive entry point.BlackRock Commodities Income Investment Trust is an investment trust company. Co.'s principal activity is portfolio investment.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
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