BlackRock Energy and Resources Income Trust (BERI) is reaping the benefits of its threefold focus on conventional energy, mining and energy transition, with share price and NAV total returns of c 70% and c 60% respectively over the past 12 months (to 19 June 2026). Portfolio managers Tom Holl, Mark Hume and new addition Charlie Brew took advantage of lower relative valuations early in the year to rotate from their overweight mining position towards traditional energy and have thus far been rewarded by rising oil prices since the start of the US-Israeli war with Iran. However, they remain more focused on the bigger picture, constructing a portfolio that is primed to benefit from long-term structural trends such as power grid renewal, the rollout of AI infrastructure and the need for increased energy security.
