Interim Management Statement

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: [phone]

18 March 2013

 

END

 

 

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