Interim Management Statement

RNS Number : 3410X

Schroder UK Mid Cap Fund PLC

13 February 2012

 



SCHRODER UK MID CAP FUND PLC

Interim Management Statement for the Quarter Ended 31 December 2011

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 October 2011 to 31 December 2011.

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*.

*Benchmark index changed with effect from 1 April 2011.

Material Events or Transactions

There have been no material events or transactions that have taken place in respect of the Company between 1 October 2011 and the date of publication of this Statement.

Final Dividend for the year ended 30 September 2011

A final dividend of 6.20p net per share for the year ended 30 September 2011 was paid on 31 January 2012 to shareholders on the register on 6 January 2012.

Annual General Meeting

The Annual General Meeting of the Company was held on 27 January 2012. All resolutions set out in the Notice of Meeting were duly passed.

Company Statistics as at 31 December 2011

Net Assets	£100.5m
Net Asset Value per Ordinary Share (excluding current year undistributed revenue)	270.14p
Share Price	224.88p
Discount (ex income)	16.77%
Number of Portfolio Holdings	72
Gearing	0.6%
Yield	2.8%

Cumulative Performance to 31 December 2011 (Total Return Basis)

Performance over	3 months	6 months	1 year
Share Price (Total Return)	3.2%	(16.6%)	(6.5%)
Net Asset Value (Total Return)	5.0%	(15.0%)	(6.1%)
FTSE 250 Index (ex Investment Cos)*	3.8%	(14.6%)	(10.3%)

**Represents the return of the Company's previous benchmark, the FTSE All-Share, ex-Investment Companies, ex FTSE 100, Total Return Index, chain linked to the current benchmark from, the FTSE Mid 250 (ex-Investment Companies) Index, 1 April 2011 following the change in the Company's benchmark on that date. 

Source for all performance data: Morningstar.

Portfolio Information as at 31 December 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of NAV
Ashtead Group	Industrials	2,700,000	2.66
Elementis	Basic Materials	2,606,800	2.56
Croda International	Basic Materials	2,525,600	2.48
Premier Oil	Oil & Gas	2,461,600	2.42
Senior	Industrials	2,223,000	2.19
Kier Group	Industrials	2,162,268	2.13
Berkley Group Holdings	Consumer Goods	2,157,300	2.12
Dechra Pharmaceuticals	Healthcare	2,139,834	2.11
Dignity	Consumer Services	2,041,250	2.01
Diploma	Industrials	2,038,200	2.01

Sector Allocation

Sector

% of NAV

Industrials	36.91
Consumer Services	14.53
Financials	10.76
Consumer Goods	9.99
Technology	8.14
Basic Materials	7.74
Oil & Gas	7.14
Healthcare	2.12
Utilities	1.94
Telecommunications	1.34
Other Net Liabilities	(0.61)

Changes to Share Capital during the Quarter Ended 31 December 2011

There were no changes to the Company's share capital during the quarter. 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 2011

SEDOL Code	0610841
Sector	Equity Investment Instruments
Launch Date	25 April 1994
Financial Year End	30 September

Enquiries:

Jonathan McGuire

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

13 February 2012

 

END

 

 

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