BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc All information is at 31 August 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 -0.6% -3.2% -8.3% 0.3% 6.3% -4.3% Share price -2.8% -5.7% -7.9% -1.0% 4.3% -1.1% Sources: Datastream, BlackRock At month end Net asset value - capital only: 109.27p Net asset value - cum income**: 110.58p Share price: 109.25p Premium to NAV (cum income): 1.2% Net yield: 5.5% Gearing - cum income: 8.2% Gearing range (as a % of net assets): 0%-20% Total assets^^: £113.7m Ordinary shares in issue: 95,008,000 **Includes net revenue of 1.31p. ^^includes current year revenue. Sector % Total Country % Total Analysis Cap Assets Analysis Cap Assets Integrated Oil 32.2 Global 34.3 Diversified 17.5 USA 21.1 Exploration & Production 17.2 Canada 20.9 Gold 6.6 Latin America 9.2 Copper 6.5 Europe 7.3 Oil Services 4.7 Asia 3.9 Oil Sands 3.4 South Africa 1.8 Iron Ore 2.7 Australia 1.2 Distribution 1.9 Africa 1.1 Aluminium 1.6 China 0.9 Silver 1.6 Current liabilities (1.7) Fertilizer 1.4 ----- Uranium 0.9 100.0 Coal 0.9 ===== Nickel 0.7 Tin 0.7 Zinc 0.7 Platinum 0.5 Current liabilities (1.7) ----- 100.0 ===== Ten Largest Equity Investments (in alphabetical order) Company Region of Risk Anadarko Petroleum USA BHP Billiton Global Chevron Global Eni Europe ExxonMobil Global Glencore Global Occidental USA Rio Tinto Global Teck Canada Total Global Commenting on the markets, Richard Davis, representing the Investment Manager noted: In August, data from China and Europe surprised on the upside with PMIs remaining above 50 while leading indicators from the US were slightly more mixed. In bulk commodity markets, iron ore continued to hold up better than investors expected based on encouraging Chinese data. Inventories of both iron ore and steel remained low while we continue to see robust demand from construction and infrastructure. The bulk commodities added 3.7%, ending the month at approximately US$139/tonne (source: CSLA, 63.5% Fe). Base metals also performed well on the back of better than expected Chinese leading indicators. Copper, zinc and tin returned 3.0%, 3.6% and 4.1% respectively. Precious metals also had positive returns in August. Gold climbed higher on the support of physical demand, the stabilisation of ETF flows and tensions in the Middle East prompting some safe haven interest. Silver rebounded heavily, benefiting from positive industrial activity data as industrial demand is also a significant driver of the silver price. Gold and silver returned 6.7% and 18.6% respectively. Mining equities rose by 2.5% in September (in Sterling terms). In the energy sector, the oil price appreciated over the month with West Texas Intermediate rising by 2.8% and Brent, the international oil index, rising by 7.2% against a backdrop of political instability in Egypt and Syria. Over the past year Iran, Iraq, Libya and Nigeria have all suffered production declines. While individually these are not significant enough to impact the energy market, on a cumulative basis the consistency of the high levels of disruption have resulted in spare capacity falling to historically low levels. In gas markets, Henry Hub rose by 3.2% during the month, a trend consistent with the gas price moves in Europe. Much of this can be attributed to warmer weather during the northern hemisphere summer. Energy equities closed the month down by 3.2% (in Sterling terms). Uncertainty has weighed on the share prices of companies with significant exposure to Egyptian operations. All data sourced from Datastream and quoted in US Dollars unless otherwise stated. 18 September 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. END -0- Sep/18/2013 09:13 GMT
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update
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