**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (as of 31 July 2025)**
BlackRock Income & Growth Investment Trust PLC released its portfolio update, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with notable gains since BlackRock took over management in April 2012. Key metrics include
**Performance**Share price up 4.1% (1 month), 7.8% (1 year), and 63.9% (5 years)
NAV up 2.8% (1 month)5.7% (1 year)and 66.4% (5 years).
**Financials**Total assets of £60.0m, gearing at 6.2%, and a net yield of 3.7%. The trust trades at an 11.6% discount to cum-income NAV.
**Sector Exposure**Top sectors include Banks (10.2%), Nonequity Investment Instruments (8.4%), and Pharmaceuticals & Biotechnology (7.9%).
**Geographic Allocation**90.6% in the UK, 3.1% in the U.S., with the remainder in net current assets.
**Top Holdings**: AstraZeneca (7.6%)RELX (5.8%)and British American Tobacco (4.5%).
**Market Commentary**
Global markets rallied in July, driven by trade agreements, strong tech earnings, and policy clarity. The U.S. and UK indices reached new highs, with the S&P 500 up 2.2% and the FTSE All-Share up 4.0%. However, concerns persist over tariffs, inflation, and geopolitical uncertainty. In the UK, political tensions and weak economic data heightened expectations of a Bank of England rate cut.
**Portfolio Highlights**
**Positive Contributors**Standard Chartered, Intermediate Capital Group, Reckitt Benckiser, and British American Tobacco delivered strong results.
**Detractors**Bellway and Great Portland underperformed due to UK fiscal deficit concerns and AI-related risks.
**Changes**Sold Hays and Big Yellow to reduce UK domestic exposure and reflect a weak employment outlook.
**Outlook**
The trust remains focused on cash-generative businesses with durable competitive advantages. Despite volatility from tariffs, geopolitical risks, and monetary policy shifts, the UK market’s valuation discount and attractive cash returns present opportunities. BlackRock anticipates further volatility but remains optimistic about long-term prospects and turnaround opportunities.
**Key Metrics**
Ongoing charges capped at 1.15%.
Dividend yield of 3.7%, including the 2024 final dividend and 2025 interim dividend.
19.2 million ordinary shares in issue (excluding treasury shares).
The trust continues to navigate market complexities while emphasizing resilience and value creation for investors.