Interim Management Statement

RNS Number : 8695X

Schroder Income Growth Fund PLC

13 December 2010

 



SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the Quarter ended 30 November 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 September 2010 to 30 November 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.

Material Events or Transactions

The Annual General Meeting of the Company was held on 13 December 2010 with all resolutions being passed by shareholders, including Resolution 8, approving the continuation of the Company as an investment trust for a further five year period and Resolution 9, approving amendment to the Company's Investment Policy. 

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

First Interim Dividend for the year ending 31 August 2011

The Board has declared a first interim dividend of 1.60p net per share for the year ending 31 August 2011, payable on 31 January 2011 to shareholders on the register on 24 December 2010.

Company Statistics as at 30 November 2010

Net Assets	£131.9 million
Net Asset Value per Ordinary Share (excluding current year undistributed revenue)	191.96p
Share Price	189.50p
Discount	1.3%
Number of Portfolio Holdings	30

Cumulative Performance* to 30 November 2010

Performance over	3mnths	6mnths	1yr	3yr	5yr
Share Price (Total Return)	4.0%	10.2%	15.5%	13.0%	24.8%
Net Asset Value (Total Return)	5.8%	9.3%	11.1%	(0.3)%	19.3%
FTSE All-Share Index (Total Return)	6.8%	8.6%	11.5%	(2.3)%	24.5%

Source for all performance data: Fundamental Data.

Portfolio Information as at 30 November 2010

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Royal Dutch Shell 'B'	Oil & Gas	12,819,833	9.71
Vodafone Group	Telecommunications	10,961,239	8.30
GlaxoSmithKline	Healthcare	7,095,654	5.38
British American Tobacco	Consumer Goods	7,047,339	5.34
Unilever	Consumer Goods	6,820,677	5.17
Imperial Tobacco Group	Consumer Goods	5,957,044	4.51
Aviva	Financials	5,498,438	4.17
Legal & General	Financials	5,492,836	4.16
BP	Oil & Gas	5,044,705	3.82
RSA Insurance	Financials	4,958,508	3.76

Sector Allocation

Sector	% of Net Asset Value
Consumer Goods	20.27
Financials	20.05
Oil & Gas	13.48
Consumer Services	12.32
Telecommunications	10.55
Healthcare	8.59
Utilities	8.19
Industrials	5.21
Technology	0.92
Net current assets	0.42

Changes to Share Capital during the Quarter Ended 30 November 2010

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

Company Information as at 30 November 2010

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	31 January 2011

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

13 December 2010

 

END

 

 

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