BlackRock World Mining takes bath in March
March was the cruellest month for BlackRock World Mining Trust as its investments in mineral stocks took a bath.
March was the cruellest month for BlackRock World Mining Trust as its investments in mineral stocks took a bath.
The group reported a 7.6% fall in net asset value (NAV) in March, although the end-March figure still stands 4.3% higher than the end-2011 figure.
Furthermore, the performance in March bested that of the HSBC Global Mining Index, the index against which the trust benchmarks its own performance; the index was down 10.2% in March and was only up 0.8% on the year at the end of March.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Over the past year the NAV is down 16.4%, but up 41.4% over the past five years. It is only over the five-year interval that the trust fails to beat its benchmark index, which rose 46.6% over the five years to the end of March 2012.
The trust's largest holding is Rio Tinto at 9.3% of the portfolio, followed by BHP Billiton at 8.1%.
Gross assets at March 31st were £1,391.6m, with short term borrowings £42.56m.
Gearing stood at 3.2% and the share price discount to the NAV was 11.6%.
The share price fell 0.67% to 665.50p by 14:11.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Would you delay retirement to help your children through university?
Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed