PR Newswire
LONDON, United Kingdom, March 18
BLACKROCK ENERGY AND
RESOURCES INCOME TRUST plc
(LEI:54930040ALEAVPMMDC31)
All information is at 28
February 2026 and
unaudited.
Performance at month end
with net income reinvested
One Three Six One Three Five
Month Months Months Year Years Years
Net asset value 8.4% 21.7% 48.2% 59.6% 59.4% 158.8%
Share price 9.7% 29.7% 59.0% 72.7% 60.1% 153.0%
Sources: Datastream,
BlackRock
At month end
Net asset value – capital 197.44p
only:
Net asset value cum 198.40p
income1:
Share price: 193.00p
Discount to NAV (cum 2.7%
income):
Net yield: 2.5%
Net Cash – cum income: 0.2%
Total assets: £202.8m
Ordinary shares in issue2: 102,197,997
Gearing range (as a % of 0-20%
net assets):
Ongoing charges3: 1.15%
1 Includes net revenue of
0.96p.
2 Excluding 33,388,197
ordinary shares held in
treasury.
3 The Company’s ongoing
charges are calculated as
a percentage of average
daily net assets and using
the management fee and all
other operating expenses
excluding finance costs,
direct transaction costs,
custody transaction
charges, VAT recovered,
taxation and certain other
non-recurring items for
the year ended 30 November
2025. In addition, the
Company’s Manager has also
agreed to cap ongoing
charges by rebating a
portion of the management
fee to the extent that the
Company’s ongoing charges
exceed 1.15% of average
net assets.
Sector Overview
Mining 38.0%
Energy Transition 30.6%
Traditional Energy 30.0%
Other 0.7%
Net Current Assets 0.7%
—–
100.0%
=====
Sector Analysis % Total Country % Total
Assets^ Analysis Assets^
Mining: Global 51.8
Diversified 21.2 United 12.4
States
Copper 7.3 Latin 7.8
America
Gold 4.8 Canada 5.7
Industrial Minerals 2.1 Germany 4.1
Platinum Group Metals 0.8 North 3.8
America
Steel 0.7 United 3.5
Kingdom
Silver 0.6 Europe 2.0
Aluminium 0.5 Italy 2.0
Subtotal Mining: 38.0 Australia 1.2
Spain 1.2
Energy Transition: Ireland 1.1
Electrification 11.5 France 0.9
Renewables 10.7 South 0.8
Africa
Storage 5.1 Morocco 0.6
Energy Efficiency 3.3 Other 0.4
Africa
Subtotal Energy 30.6
Transition:
Net 0.7
Current
Assets^
Traditional Energy: —–
Integrated 12.8 100.0
Oil Services 7.7 =====
E&P 5.5
Distribution 2.0
Refining & Marketing 2.0
Subtotal Traditional 30.0
Energy:
Other:
Other 0.7
Subtotal Other: 0.7
Net Current Assets^ 0.7
—–
100.0
=====
^ Total Assets for the
purposes of these
calculations exclude bank
overdrafts, and the net
current assets figure
shown in the tables above
therefore exclude bank
overdrafts equivalent to
0.5% of the Company’s net
asset value.
Ten Largest Investments
Company Region % Total
of Risk Assets
Vale – ADS Latin 5.8
America
Glencore Global 5.3
Chevron Corporation Global 5.0
Shell Global 4.0
Freeport-McMoran Global 3.7
Abaxx Technologies Global 3.6
Elia Group Germany 3.0
EDP Renovaveis Global 3.0
Rio Tinto Global 2.8
Anglo American Global 2.7
Commenting on the markets,
Tom Holl and Mark Hume,
representing the
Investment Manager noted:
All three of the Company’s
underlying sector
components – mining,
conventional energy and
energy transition –
contributed positively to
absolute returns during
February. Performance
reflected a continued
rotation toward real
assets and
capital-intensive
businesses, supported by
elevated geopolitical
risk, strengthening energy
security narratives, and
rising power demand linked
to AI and infrastructure
investment.
Mining was the largest
contributor to absolute
returns, driven primarily
by the Company’s
diversified mining
exposure, with copper and
gold exposures also
performing well. Sentiment
toward the sector improved
amid renewed geopolitical
tensions and a broadening
of investor interest
beyond mega-cap technology
into scarce, strategically
important assets. Precious
metals benefited from
renewed safe-haven demand,
while copper prices rose
modestly amid accelerating
electrification,
data-centre build-out and
power infrastructure
investment. Bulk
commodities were more
mixed, with iron ore
weaker amid ongoing
softness in Chinese steel
demand.
Within energy transition,
positive returns were
mainly generated through
electrification, energy
efficiency and storage
exposures, reflecting
growing investor focus on
the physical
infrastructure required to
meet accelerating power
demand. AI-related capital
expenditure remained a key
driver, reinforcing demand
for grid, power equipment
and energy-efficient
infrastructure. Policy
developments were
supportive. In Europe,
commitments to grid
investment and renewable
generation provided
structural tailwinds,
while in the U.S. tariff
rollbacks and discussions
around restricting imports
of energy storage systems
were viewed as supportive
for non-Chinese suppliers.
Gains were partially
offset by a modest
negative contribution from
renewables, which
experienced profit-taking
following strong prior
performance.
Conventional energy was a
strong contributor, led by
integrated oil & gas,
exploration & production,
and oil services, as
geopolitical tensions
reintroduced a meaningful
risk premium into energy
markets. Refining margins
strengthened, supporting
downstream exposures,
while corporate activity
highlighted ongoing
consolidation and capital
discipline within the
sector. Oil prices ended
the month broadly stable,
while U.S. natural gas
prices declined sharply as
winter demand eased and
inventories normalised,
underscoring continued
regional divergence within
energy markets.
18 March 2026
ENDS
Latest information is
available by typing
www.blackrock.com/uk/beri
on the internet,
«BLRKINDEX» on Reuters,
«BLRK» on Bloomberg or
«8800» on Topic 3 (ICV
terminal). 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.
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