BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc All information is at 31 December 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 1.9% 0.9% 4.1% -5.2% -20.5% 56.4% Share price 2.6% 6.0% 9.5% -0.8% -20.7% 70.9% Sources: Datastream, BlackRock At month end Net asset value - capital only: 106.16p Net asset value - cum income**: 106.22p Share price: 110.75p Premium to NAV (cum income): 4.3% Net yield: 5.4% Net gearing - cum income: 9.5% Total assets^^: £109.9m Ordinary shares in issue: 96,258,000 Gearing range (as a % of net assets): 0-20% **Includes net revenue of 0.06p. ^^includes current year revenue. Sector % Total Country % Total Analysis Total Assets Analysis Total Assets Integrated Oil 37.1 Global 40.8 Diversified 20.5 Canada 21.0 Exploration & Production 14.5 USA 18.3 Copper 8.2 Europe 9.2 Gold 5.4 Latin America 8.6 Oil Sands 4.4 Africa 4.3 Oil Services 3.7 Asia 3.8 Coal 2.8 Australia 1.9 Iron Ore 2.5 China 1.3 Distribution 1.9 Current liabilities (9.2) Aluminium 1.9 Nickel 1.5 Fertilizers 1.4 ----- Uranium 1.0 100.0 Silver 1.0 ===== Tin 0.8 Platinum 0.6 Current liabilities (9.2) ----- 100.0 ===== Ten Largest Equity Investments(in alphabetical order) Company Region of Risk Chevron Global ExxonMobil Global BHP Billiton Global Royal Dutch Shell Global BP Global Rio Tinto Global GlencoreXstrata Global Total Global Eni Europe Tech Resources Canada Commenting on the markets BlackRock's Natural Resources Team, representing the Investment Manager noted: Base metal prices enjoyed a strong rally in December 2013, with the MG Base Metal Price Index gaining 5.3%. Copper rose by 4.6% to close the year at US$3.35/lb. Copper inventories on the LME fell by 45.0% in the second half of the year, suggesting solid underlying demand for the red metal. Zinc was the top performer, with a gain of 10.0%. The news that Minmetal's Century mine is reaching the end of its life brought the tightening outlook for zinc supply into focus. The Century mine is Australia's largest open pit zinc mine and has been in operation since 1997. Final production from the mine is expected in mid-2015. Strong gains were also registered in the energy markets, where West Texas Intermediate crude was up by 6.1%. Henry Hub gas prices rose by 14.5% to US$4.34/MMBTU as the cold snap spread across parts of the US. The US Federal Reserve announced the beginning of the highly anticipated tapering program. The program, set to begin in January 2014, will commence with an initial reduction of US$10 billion of bond buying per month. While the market response to this initial announcement was rather muted, gold prices did drift back towards the US1,200/oz level, a drop of 3.6% for the month. The metal closed at US$1,208/ oz, registering a 27% decline for the year - its largest calendar year fall since 1981. Mining and energy equities rose by 0.2% and 1.7% respectively in December (Sterling terms). 21 January 2014 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- Jan/21/2014 14:59 GMT
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Portfolio Update
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