BlackRock World Mining
Company Notes
Supportive backdrop for continued strong performance
BlackRock World Mining* aims to provide diversified exposure to mining and metal assets worldwide, with the objective of maximising total returns. The fund is managed by Evy Hambro and Olivia Markham of BlackRock’s Natural Resources Equity team. Over the five years to 31 January 2022, the fund delivered a NAV total return of +86.0%, outperforming the +53.6% return of its reference index, the MSCI ACWI Metals & Mining 30% Buffer 10/40 Index.
The Board’s dividend policy is to seek to distribute substantially all available income in any given financial year, rather than pursuing a progressive dividend. Revenue and dividend growth was particularly strong in the latest financial year to 31 December 2021, with dividends totalling 42.5p declared for the year, up 109% from 2020. This equates to a yield of 6.0% on the current share price and reflects the 114% year-on-year increase in its revenue return per share to 43.59p. This growth in revenue was driven by the significant increase in commodity prices and the associated higher dividend payments from the large diversified mining companies.
*Denotes a corporate broking client of Winterflood Securities
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