StockMarketWire.com - BlackRock North American Income Trust's net asset value returned +5.7% in the six months to the end of April compared with a return of +7.1% in the Russell 1000 Value Index.

The company said: "Although the gap between the portfolio and the index narrowed, the market background remained unfavourable for our portfolio manager’s investment approach, which is to focus on companies capable of generating dividend growth and not those with a high initial yield."

The company says the board is conscious that performance relative to the index has been disappointing and has stressed to the manager the importance of seeking an improvement in this area.




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