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Company Schroder UK Growth Fund PLC
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Interim Management Statement

Released 12:29 18-Mar-2013
Number 2410A12

RNS Number : 2410A
Schroder UK Growth Fund PLC
18 March 2013
 



 

 

 

SCHRODER UK GROWTH FUND PLC

 

Interim Management Statement for the Quarter Ended 31 January 2013

 

The Board of Schroder UK Growth Fund Plc ("the Company") announces its second Interim Management Statement for the year ending 30 April 2013, as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 November 2012 to 31 January 2013.

 

Investment Objective

 

The Company's principal investment objective is to achieve capital growth predominantly from investment in UK equities, with the aim of providing a total return in excess of the FTSE All-Share Index.

 

Company Statistics as at 31 January 2013

 

Net assets

£263.8 million

Net Asset Value per Ordinary share (cum income)  

163.96p

Share price

155.00p

Discount (to ex income NAV)

5.04%

Number of portfolio holdings

36

Gearing

8.6%

Yield

2.4%

 

% Cumulative Performance to 31 January 2013

 

Performance over

3m

6m

1yr

 

3yr

 

Share Price (total return)

16.0

 26.5

29.1

58.3

Net Asset Value (total return)

13.7

 26.1

26.8

56.2

FTSE All-Share Index

  9.3

 14.1

16.3

37.0

 

Source for all performance data: Morningstar

 

Portfolio Information as at 31 January 2013

 

Ten Largest Holdings

 

 

Stock Name

Sector Classification

 

Market Value (£)

Percentage

of Net Asset Value

Taylor Wimpey

Consumer Goods

12,309,409

4.7

Lloyds Banking

Financials

11,878,188

4.5

GlaxoSmithKline

Healthcare

11,772,007

4.5

Tate & Lyle

Consumer Goods

11,357,412

4.3

Drax

Utilities

10,848,704

4.1

Invensys

Technology

10,641,705

4.0

Royal Dutch Shell

Oil and Gas

10,585,044

4.0

Xstrata

Consumer Goods

10,037,859

3.8

Virgin Media

Telecommunications

  9,942,449

3.8

Legal & General

Financials

  9,785,331

3.7

 

Sector Allocation

 

 

Sector

Percentage of

Net Asset Value

Consumer Services

23.0

Financials

22.4

Consumer Goods

13.1

Industrials

10.2

Basic Materials

  9.8

Oil & Gas

  8.4

Healthcare

  7.8

Utilities

  6.1

Technology

  4.0

Telecommunications

  3.8

Other net liabilities

(8.6)



Changes to Share Capital during the Quarter Ended 31 January 2013

 

There were no changes to the Company's share capital during the quarter. There remain a total of 160,917,184 Ordinary shares of 25p in issue at 31 January 2013.

 

Material Events or Transactions

 

The Board announced on 15 March 2013 that it noted the decision of Richard Buxton and Errol Francis to leave Schroders in June 2013.  After discussions with Schroders, the Board has agreed that Richard Buxton will continue to manage the Company's portfolio until that time. The Company's portfolio has out-performed its benchmark over 1, 3 and 5 years and the Board has confidence in its future prospects.

 

A further announcement will be made in due course.

 

There have been no other material events or transactions that have taken place between 31 January 2013 and the date of publication of this Statement.

 

Company Information as at 31 January 2013

 

SEDOL Code

0791348

Sector

Equity Investment Instruments

Launch Date

25 April 1994

Financial Year End

30 April

Next Dividend Payment

July 2013



 

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: 020 7658 4430

 

18 March 2013


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Interim Management Statement - RNS