MERRILL LYNCH COMMODITIES INCOME INVESTMENT TRUST plc
All information is at 31 August 2007 and unaudited.
Performance at month end with net income reinvested
One Three Six One Since
Month Months Months Year Launch*
Net asset value -3.0% -0.9% 21.1% 33.6% 42.1%
Share price -5.7% 0.3% 21.0% 23.0% 31.7%
*Launched on 13 December 2005.
Sources: Datastream, BlackRock MLIM.
At month end
Net asset value - capital only: 128.90p
Net asset value - cum income: 130.90p
Share price: 123.75p
Discount to NAV (capital only): 4.0%
Net yield: 3.7%
Gearing: 8.8%
Revenue per share: 2.00p*
Total assets: £106.8m
Ordinary shares in issue: 75,600,000
*revenue per share excludes the first interim dividend paid on 27 April 2007
and the second interim dividend paid on 27 July 2007.
Sector Analysis % of Total Assets Country Analysis % of Total Assets
Integrated Oil 27.2 Global 18.2
Diversified 20.2 Europe 14.2
Exploration & Production 8.2 Latin America 13.6
Nickel 6.9 USA 13.4
Copper 6.3 Australia 13.4
Platinum 4.9 Canada 10.0
Gold 4.7 China 6.1
Coal 4.6 Asia 3.5
Aluminium 4.3 South Africa 3.4
Zinc 3.2 India 1.0
Oil Services 2.5 Russia 0.9
Tin 1.5 Africa 0.7
Uranium 1.3 Current assets 1.6
Refining and Marketing 1.0 ------
Distribution 0.7 Total 100.0
Diamonds 0.5 ------
Mineral Sands 0.4
Current assets 1.6
------
Total 100.0
------
Ten Largest Equity Investments (in alphabetical order)
Company Region of Risk
BHP Billiton Global
CNOOC China
CVRD Latin America
Eni Europe
Hydro Europe
Jubilee Mines Australia
Rio Tinto Global
Southern Copper Latin America
Statoil Europe
Zinifex Australia
Commenting on the markets, Richard Davis, representing the Investment Manager
noted:
August was a very volatile month for the equity markets in general and mining
shares, despite a strong results season and positive fundamentals, did not
escape the sell-off. At one point the HSBC Global Mining Index was down 16.1%
but by month end some sense had returned and the index finished the month down
3.4%. Energy equities recouped most of their losses by month end to close down
0.9%. Oil traders carefully watched the trajectory of Hurricane Dean, the
first major hurricane to threaten oil and gas supply in the Gulf of Mexico,
further adding to volatility in both crude oil and natural gas markets. In the
end, Hurricane Dean did not hit any major production facilities. Crude oil
prices fell 4.6% on the month.
Latest information is available by typing www.blackrock.co.uk/its on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).
28 September 2007
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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