Interim Management Statement

RNS Number : 6413P

Schroder Income Growth Fund PLC

20 July 2010

 

SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the Quarter ended 31 May 2010

The Board of Schroder Income Growth Fund Plc ("the Company") is pleased to announce its Interim Management Statement as required by the UK Listing Authority's Disclosure and Transparency Rules. This Statement is in respect of the period from 1 March 2010 to 31 May 2010.

Investment Objective

The Company's principal investment objectives are to provide real growth of income, being growth of income in excess of the rate of inflation, and capital growth as a consequence of the rising income.

Third Interim Dividend for the year ended 31 August 2010

On 30 June 2010, the Board declared a third interim dividend of 1.60p net per share for the year ending 31 August 2010, which is payable on 30 July 2010 to shareholders on the register on 9 July 2010.  

Company Statistics as at 31 May 2010

Net Assets	£124.4 million
Net Asset Value per Ordinary Share (excluding current year undistributed revenue)	181.05p
Share Price	176.00p
Discount	2.8%
Number of Portfolio Holdings	29

Cumulative Performance* to 31 May 2010

Performance over	3mnths	6mnths	1yr	3yr	5yr
Share Price (Total Return)	1.9%	4.9%	12.9%	(9.8)%	22.7%
Net Asset Value (Total Return)	(4.3)%	1.6%	17.5%	(15.8)%	18.2%
FTSE All-Share Index Total Return	(1.3)%	2.7%	22.9%	(12.8)%	28.6%

Source for all performance data: Fundamental Data.

Portfolio Information as at 31 May 2010

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Royal Dutch Shell 'B'	Oil & Gas	11,764,951	9.71
BP	Oil & Gas	10,163,355	8.39
Vodafone Group	Telecommunications	9,423,119	7.78
GlaxoSmithKline	Healthcare	8,096,906	6.68
British American Tobacco	Consumer Goods	6,176,438	5.10
Unilever	Consumer Goods	5,881,884	4.85
Imperial Tobacco Group	Consumer Goods	5,685,408	4.69
HSBC Holdings	Financials	5,115,239	4.22
Admiral Group	Financials	5,040,686	4.16
Aviva	Financials	4,960,379	4.09

Sector Allocation

Sector	% of Net Asset Value
Financials	20.10
Oil & Gas	17.35
Consumer Goods	16.18
Consumer Services	13.23
Telecommunications	8.96
Healthcare	8.68
Utilities	6.60
Industrials	6.29
Net current assets	2.61

Changes to Share Capital during the Quarter Ended 31 May 2010

None - there remain a total of 68,688,343 ordinary shares of 10p each in issue. Each share carries one voting right.

Material Events or Transactions

There have been no material events or transactions that have taken place in respect of the Company between 1 March 2010 and the date of publication of this Statement.

Company Information as at 31 May 2010

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	July 2010

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

20 July 2010

 

END

 

 

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