Interim Management Statement

RNS Number : 0850X

Schroder UK Mid Cap Fund PLC

04 February 2013

 

SCHRODER UK MID CAP FUND PLC

Interim Management Statement for the Quarter Ended 31 December 2012

The Board of Schroder UK Mid Cap 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 2012 to 31 December 2012.

Investment Objective

The Company's investment objective is to invest in mid cap equities, with the aim of providing a total return in excess of the FTSE Mid 250 (ex Investment Companies) Index.

Material Events or Transactions

Annual General Meeting

The Annual General Meeting of the Company was held on 29 January 2013. All resolutions set out in the Notice of Meeting were duly passed.

Retirement of Director

As part of the refreshment of the Board, Mr Chris Jones retired as a Director of the Company at the Annual General Meeting held on 29 January 2013 and did not seek re-election.

Mr Jones has served as a non-executive Director of the Company since 1994 and the Directors extend their wholehearted gratitude for the invaluable contribution that he has made to the success of the Company over the last 18 years.

Final Dividend for the Year Ended 30 September 2012

A final dividend of 6.82p per share for the year ended 30 September 2012 was paid on 30 January 2013 to shareholders on the register on 4 January 2013.

No other material events or transactions have taken place in respect of the Company between 1 October 2012 and the date of publication of this Statement.

Company Statistics as at 31 December 2012

Net Assets	£129.1m
Net Asset Value per Ordinary Share	357.25p
Share Price	298.13p
Discount	16.55%
Number of Portfolio Holdings	68
Gearing	3.6%
Yield	2.3%

Cumulative Performance to 31 December 2012

Performance over	3 months	6 months	1 year
Share Price (total return)	7.6%	25.8%	36.3%
Net Asset Value (total return)	8.6%	20.4%	31.3%
FTSE 250 (ex Investment Trusts) Index	6.4%	15.9%	28.7%

Source: Morningstar.

Portfolio Information as at 31 December 2012

Ten Largest Holdings         

Stock Name	Sector Classification	Market Value (£)	% of NAV
Ashtead	Industrials	4,450,950	3.45
Elementis	Basic Materials	3,121,200	2.42
William Hill	Consumer Services	3,039,750	2.35
Daily Mail & General Trust	Consumer Services	3,027,750	2.34
Berkeley	Consumer Goods	2,980,100	2.31
Talk Talk Telecom	Telecommunications	2,902,500	2.25
Pace	Technology	2,806,500	2.17
Invensys	Technology	2,762,500	2.14
Diploma	Industrials	2,717,500	2.10
Dechra Pharmaceuticals	Health Care	2,706,750	2.10

Sector Allocation	% of NAV
Industrials	39.83
Consumer Services	18.81
Technology	10.02
Consumer Goods	9.68
Financials	7.68
Basic Materials	6.56
Oil & Gas	4.99
Telecommunications	4.02
Health Care	2.10
Net Current Liabilities	(3.69)

Changes to Share Capital during the Quarter Ended 31 December 2012

There were no changes to the Company's share capital during the quarter.

As at the date of this Statement, there remain a total of 36,143,690 ordinary shares of 25p each in issue, each carrying one voting right. No shares are held in Treasury.

Company Information as at 31 December 2012

SEDOL Code	0610841
Sector	Equity Investment Instruments
Launch Date	April 1983
Financial Year End	30 September

Enquiries:

John Spedding

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

4 February 2013

 

END

 

 

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