**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, 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 gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
| Metric | As of January 2024 (Not Available) | As of January 2025 |
|---|---|---|
| Net Asset Value (Capital Only) | 253.56p | |
| Net Asset Value (Cum Income) | 259.61p | |
| Share Price | 230.00p | |
| Total Assets (Including Income) | £54.7m | |
| Discount to Cum-Income NAV | 11.4% | |
| Gearing | 4.0% | |
| Net Yield | 3.3% | |
| Ordinary Shares in Issue | 18,753,794 | |
| Gearing Range (as a % of Net Assets) | 0-20% | |
| Ongoing Charges | 1.15% |