Editing BlackRock Sustainable American Income Trust
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BRSA’s relative performance is shown in Exhibit 8. The most relevant column is SC, which is since the trust’s change in strategy at the end of July 2021. BRSA has outpaced the performance of the reference index in both NAV and share price terms since then. Sectors that have contributed positively to this outperformance include communication services, financials and technology. The consumer staples sector has detracted from BRSA’s relative performance both in terms of an underweight exposure versus the reference index and from stock selection. Another thing to note is how well the trust has performed versus the broad UK market over almost all of the periods shown. BRSA has lagged the performance of the bellwether US S&P 500 Index over the last three and five years. This is unsurprising given that until the recent rotation towards value/cyclical stocks, investors have generally favoured growth stocks, as evidenced by the multi-year outperformance of the technology sector to the end of 2021. | BRSA’s relative performance is shown in Exhibit 8. The most relevant column is SC, which is since the trust’s change in strategy at the end of July 2021. BRSA has outpaced the performance of the reference index in both NAV and share price terms since then. Sectors that have contributed positively to this outperformance include communication services, financials and technology. The consumer staples sector has detracted from BRSA’s relative performance both in terms of an underweight exposure versus the reference index and from stock selection. Another thing to note is how well the trust has performed versus the broad UK market over almost all of the periods shown. BRSA has lagged the performance of the bellwether US S&P 500 Index over the last three and five years. This is unsurprising given that until the recent rotation towards value/cyclical stocks, investors have generally favoured growth stocks, as evidenced by the multi-year outperformance of the technology sector to the end of 2021. | ||
'''Exhibit 9: NAV performance versus reference index over one year''' | '''Exhibit 9: NAV performance versus reference index over one year''' | ||
[[File:Exhibit 9.png|600px]] | |||
== Peer group comparison == | == Peer group comparison == |