Interim Management Statement - 3 months to 31 July 2012
To the members of BlackRock Income and Growth Investment Trust plc
This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and Transparency Rules.
It should not be relied on by any other party for any other reason.
This interim management statement relates to the period from 1 May 2012 to
31 July 2012, and contains information that covers this period, and up to the
date of publication of this interim management statement.
The Company's objective is to provide growth in capital and income over the
long term through investment in a diversified portfolio of principally UK
listed equities.
Stock Performance
Cumulative Performance(%):
One Three One Three Five
Month Months Year Years Years
Net asset value 1.7% 0.3% 0.8% 43.8% 11.4%
Share price 5.3% 3.3% 3.1% 41.5% 13.5%
FSTE All-Share Total Return 1.3% -1.0% 0.4% 37.7% 6.9%
Sources: BlackRock and Datastream
BlackRock took over the investment management of the Company with effect from
1 April 2012. All performance figures are on a total return basis.
Financial position and performance (including income) as at 31 July 2012 (unaudited)
Total assets (including income) (£m) 42.2
Short term borrowings (£m) 2.0
Net asset value per share (capital only) 139.91p
Net asset value per share (cum income)* 141.50p
Share price 134.00p
Ordinary shares in issue** 28,379,268
Actual gearing^ 4.0%
Net yield 3.8%
Discount to cum income NAV 5.3%
* includes net revenue of 3.19 pence per share
** excludes 4,554,664 ordinary shares held in treasury
^ gearing is calculated using debt at par, less cash and cash equivalents as
a percentage of net assets
Material Events& Transactions
Material events or transactions, during the three months to 31 July 2012 and
from 1 August 2012 to the date of the publication of this report are set out
below. The Company was not involved in any material transactions during the
period other than the purchase and sale of securities undertaken in the normal
course of its business.
Half Yearly Financial Report
The Company announced its half yearly financial results for the six months
ended 30 April 2012 on 15 June 2012.
Interim dividend
The interim dividend in respect of the year ended 31 October 2012 of 1.80 pence
per share was declared on 15 June 2012 and will be paid to shareholders on the
register at the close of business on 27 July 2012 on 7 September 2012.
Change in NAV and Share Price
For the period 1 August 2012 to 3 September 2012 the Company's NAV rose by 3.2%
and the share price by 1.1%.
The Board is not aware of any other material events or transactions, except as
disclosed herein, occurring between 31 July 2012 and the date of publication of
this interim management statement which would have a material impact on the
financial position of the Company.
Contact details:
Kerry Higgins
BlackRock Investment Management (UK) Limited
Company Secretary
Tel: 020 7743 1089
4 September 2012
Please note that more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/brig. 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.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
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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