Interim Management Statement

RNS Number : 3701M

Schroder Income Growth Fund PLC

15 July 2014

 



SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the quarter ended 31 May 2014

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 2014 to 31 May 2014.

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

Third Interim Dividend for the year ending 31 August 2014

The Board has declared a third interim dividend of 2.00p per share for the year ending 31 August 2014, payable on 31 July 2014 to shareholders on the Register on 4 July 2014.

There have been no other material events or transactions that have taken place in respect of the Company between 1 March 2014 and the date of publication of this Statement.

Company Statistics as at 31 May 2014

Net Assets	£188.6 million
Net Asset Value per Ordinary Share	274.64p
Share Price	273.50p
Discount	0.4%
Number of Portfolio Holdings	45
Net Effective Gearing	6.8%

Cumulative Performance to 31 May 2014 (total return basis)

Performance over:	3mnths	6mnths	1yr	3yr	5yr
Share Price	1.5%	5.7%	16.2%	52.1%	111.0%
Net Asset Value	0.4%	6.2%	15.2%	45.9%	109.9%
FTSE All-Share Index	0.9%	4.8%	8.9%	30.3%	92.8%

Source for all performance data: Morningstar.

Portfolio Information as at 31 May 2014

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Royal Dutch Shell	Oil and Gas	10,299,444	5.5
GlaxoSmithKline	Healthcare	9,562,197	5.1
AstraZenena Legal & General	Healthcare Financials	9,527,960   9,202,183	5.1 4.9
HSBC	Financials	9,076,799	4.8
British American Tobacco	Consumer Goods	8,721,887	4.6
Imperial Tobacco	Consumer goods	6,991,905	3.7
Vodafone	Telecommunications	6,953,746	3.7
BT	Telecommunications	6,633,997	3.5
Swedbank	Financials	6,560,417	3.5

Sector Allocation

Sector	% of Net Asset Value
Financials	29.6
Consumer Services	18.6
Oil & Gas	14.2
Consumer Goods	10.4
Healthcare	10.1
Industrials	8.0
Telecommunications	7.2
Basic Materials Utilities	5.9   1.3
Technology	1.1
Net current liabilities	(6.4)

Changes to Share Capital during the Quarter Ended 31 May 2014

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 31 May 2014

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	31 July 2014

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

15 July 2014

 

END

 

 

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