Report

BlackRock Sustainable American Income Trust - Positioned for economic weakness

BlackRock Sustainable American Income Trust (BRSA) changed its investment strategy at the end of July 2021 to integrate explicit ESG objectives. Its managers, Tony DeSpirito, David Zhao and Lisa Yang, aim to deliver an attractive level of income and long-term capital appreciation from a portfolio of dividend-paying companies that are trading at attractive valuations and are deemed to be ESG leaders, improvers or ‘sustainability enablers’. The managers say the odds of a recession are now higher compared with the end of 2021; hence, the structure of the portfolio has changed since then from a barbell approach of stability versus cyclical value and is now skewed towards stability.
Underlying
Blackrock North American Income Trust

BlackRock North American Income Trust is an investment trust and its key activity is portfolio investment. Co. invests in a diversified portfolio of mainly large-cap U.S. quoted equities. Co. may also hold other securities from time-to-time including, inter alia, convertible securities, fixed interest securities, preference shares, non-convertible preferred stock and depositary receipts. Co. may also invest in listed large-cap equities quoted on exchanges outside the U.S., and in securities denominated in U.S. dollars and non-U.S. dollar currencies. Co.'s investment manager is BlackRock Investment Management (UK) Limited. As of Oct 31 2017, Co.'s investment portfolio totaled £113.7 million.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Pedro Fonseca

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