BlackRock Sustainable American Income trust has dropped the ‘sustainable’ tag from its name in response to the FCA’s incoming Sustainability Disclosure Requirements.
In a stock exchange announcement this morning (14 November), the trust announced it had changed its name to BlackRock American Income Trust with immediate effect.
The company’s ticker has also changed from BRSA to BRAI, while its investment objective has been updated to the following: “The company’s investment objective is to provide an attractive level of income together with capital appreciation over the long term, while incorporating the ESG commitments described in the company’s investment policy.”
See also: Two EdenTree funds adopt SDR ‘Sustainability Impact’ label
However, there will be no material change to the way the portfolio is managed.
Naming and marketing requirements under SDR must be met by 2 December.
The £143m trust currently trades at an 11.26% discount, according to the Association of Investment Companies.
This article first appeared on PA Future’s sister site Portfolio Adviser
