Interim Management Statement

RNS Number : 3921A

Schroder UK Growth Fund PLC

29 March 2012

 



SCHRODER UK GROWTH FUND PLC

Interim Management Statement for the Quarter Ended 31 January 2012

The Board of Schroder UK Growth Fund Plc ("the Company") announces its second Interim Management Statement for the year ending 30 April 2012, as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 November 2011 to 31 January 2012.

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 2012

Gross Assets	£241.5million
Diluted Net Asset Value per Ordinary Share (excluding current year undistributed income) Share Price	132.21p 123.5p
Discount	6.59%
Number of Holdings	36
Net Effective Gearing	4.7%
Yield	2.6%

% Cumulative Performance to 31 January 2012

Performance over	3m	6m	1yr	3yr
Share Price (Total Return)	2.7	-2.6	-4.7	92.2
Net Asset Value (Total Return)	2.8	-2.1	-1.6	106.5
FTSE All-Share Total Return Index	3.2	-1.5	-0.3	56.9

Source for all performance data: Fundamental Data

Portfolio Information as at 31 January 2012

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	Percentage of Net Asset Value
GlaxoSmithKline Royal Dutch Shell B BG Group Tate & Lyle Xstrata Burberry Group	Healthcare Oil & Gas Oil & Gas Consumer Goods Materials Consumer Goods	11,872,289 10,528,445   9,331,142   9,238,387   9,128,802   8,339,295	5.5 4.9 4.3 4.3 4.2 3.9
Rio Tinto	Materials	8,264,591	3.8
Misys	Technology	8,169,134	3.8
Legal & General Taylor Wimpey	Financials Consumer Goods	7,396,786  7,335,473	3.4 3.4

Sector Allocation

Sector

Percentage of Portfolio Value

Consumer Services Financials	18.3 18.2
Consumer Goods	13.2
Oil & Gas	10.8
Basic Materials	10.5
Healthcare	8.0
Technology	6.9
Industrials	5.9
Utilities	5.1
Telecommunications	3.1

Changes to Share Capital during the Quarter Ended 31 January 2012

During the period 790,000 ordinary shares were repurchased for cancellation.  As at 31 January 2012 there were 162,485,105 ordinary shares of 25p each and 30,033,445 subscription shares of 1p each in issue. 

Changes to Share Capital after 31 January 2012

On 10 February 2012, the Company issued 8,685 ordinary shares following the exercise of conversion rights by a number of subscription shareholders. The ordinary shares rank pari passu with the existing ordinary shares and commenced trading on 11 February 2012.

A total of 920,000 ordinary shares have been repurchased for cancellation since 31 January 2012.  

Following these changes there are now 161,573,790 ordinary shares and 21,393,197 subscription shares in issue.

Material Events or Transactions

There have been no material events or transactions that have taken place between 1 November 2011 and the date of publication of this Statement.

Company Information as at 31 January 2012

SEDOL Code	0791348
Sector	Equity Investment Instruments
Launch Date	25 April 1994
Financial Year End	30 April

Enquiries:

Jonathan McGuire

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

29 March 2012

 

END

 

 

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