BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc All information is at 30 April 2013 and unaudited. Performance at month end with net income reinvested One Three Six One Three Five Month Months Months Year Years Years Net asset value -6.7% -8.3% -4.3% -3.8% -4.8% -17.3% Share price -4.1% -6.3% -4.1% -2.1% -2.1% -15.2% Sources: Datastream, BlackRock At month end Net asset value - capital only: 111.73p Net asset value - cum income*: 111.99p Share price: 116.00p Premium to NAV (cum income): 3.6% Net yield: 5.1% Gearing: 9.6% Total assets^: £115.7m Ordinary shares in issue: 94,258,000 Gearing range (as a % of net assets) 0.20% *Includes net revenue of 0.26p. ^includes current year revenue. Sector % Total Country % Total Analysis Cap Assets Analysis Cap Assets Integrated Oil 31.1 Global 32.6 Diversified 17.1 Canada 20.8 Exploration & Production 15.3 USA 18.3 Copper 7.9 Latin America 10.7 Gold 6.6 Europe 7.6 Oil Services 6.1 Asia 6.2 Oil Sands 3.0 Australia 1.5 Iron Ore 2.5 South Africa 1.4 Aluminium 2.2 China 0.9 Distribution 2.1 Russia 0.9 Nickel 1.8 Current liabilities (0.9) Fertilizer 1.3 Coal 0.9 ----- Silver 0.9 100.0 Tin 0.9 ===== Platinum 0.6 Zinc 0.6 Current liabilities (0.9) ----- 100.0 ===== Ten Largest Equity Investments(in alphabetical order) Company Region of Risk Anadarko Petroleum USA Antofagasta Latin America BHP Billiton Global BP Global Chevron Global ExxonMobil Global Freeport-McMoRan Asia Rio Tinto Global Teck Resources Canada Total Global Commenting on the markets, Richard Davis, representing the Investment Manager noted: China released disappointing economic data in April, which precipitated a sharp sell-off in mining commodities and equities. Chinese first quarter GDP came in at 7.7% which missed expectations of 8.0% and industrial production grew by 8.9% versus the consensus of 10.1%. Investments in the Chinese property market also appeared to be losing momentum. Meanwhile, Europe continues to be stuck in recessionary territory with poor Eurozone PMIs and lending activity to the private sector contracting further. Copper, nickel and tin lost 6.5%, 7.7% and 12.4% respectively. Mining equities closed the month down by 9.9% (in Sterling). It was a torrid period for the gold sector. Gold registered its worst two day performance for 30 years, as paper market activity and ETF redemptions pushed the yellow metal as low as US$1,322/oz on 16 April. Conjecture over the longevity of the Federal Reserve's stimulus programme and fears of a gold sale by the Cypriot government as part of its bailout terms were cited as triggers for the rout. A surge in physical demand helped gold recover some of its losses and prices closed the month at US$1,468/oz. Premiums for physical gold jumped, retail outlets across Asia sold out of the metal and some traders reported levels of demand not seen since the late 1980s as the bargain hunting began. In Sterling terms, the FTSE Gold Index declined by 22.8% during the month. In the energy sector, crude oil fell in April, although tighter physical markets and stronger US demand helped prices recover partially towards the end of the month. Brent crude declined by 5.5% and WTI was down by 4.1% to finish the month at US$101.5/Bbl and US$93.2/Bbl respectively. Gas prices continued to appreciate with Henry Hub adding 6.7%, helped by the extended winter in the northern hemisphere. Over the month, gas inventories fell below the 5-year average on the back of this strength in demand. Energy shares fell by 2.2% in April (in Sterling). All data sourced from Datastream and quoted in US Dollars unless otherwise stated. 17 May 2013 ENDS Latest information is available by typing www.blackrock.co.uk/brci on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager's website nor the contents of any website accessible from hyperlinks on the Manager's website (or any other website) is incorporated into, or forms part of, this announcement. -0- May/17/2013 09:45 GMT
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update
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