Interim Management Statement

RNS Number : 0430Z

Schroder UK Mid Cap Fund PLC

31 January 2014

 



SCHRODER UK MID CAP FUND PLC

Interim Management Statement for the Quarter Ended 31 December 2013

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 2013 to 31 December 2013.

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 31 January 2014. All resolutions set out in the Notice of Meeting were duly passed.

Final Dividend for the Year Ended 30 September 2013

Following shareholder approval at the Annual General Meeting, a final dividend of 5.45p net per share for the year ended 30 September 2013 will be paid on 3 February 2014 to shareholders on the register on 13 December 2013.

No other material events or transactions have taken place in respect of the Company between 1 October 2013 and the date of publication of this Statement.

Company Statistics as at 31 December 2013

Net Assets	£179.3m
Net Asset Value per Ordinary Share	496.05p
Share Price	496.50p
Premium	0.09%
Number of Portfolio Holdings	62
Net cash	1.8%
Yield	1.6%

Cumulative Performance to 31 December 2013*

Performance over	3 months	6 months	1 year
Share Price (total return)	19.7%	44.0%	73.4%
Net Asset Value (total return)	12.1%	23.3%	43.8%
FTSE 250 (ex-Investment Companies) Index	8.0%	18.3%	34.9%

*Source: Morningstar.

Portfolio Information as at 31 December 2013

Ten Largest Holdings         

Stock Name	Sector Classification	Market Value (£)	% of NAV
Daily Mail & General Trust	Consumer Services	5,085,175	2.8
Telecom Plus	Telecommunications	4,551,413	2.5
Kier	Industrials	4,324,506	2.4
Atkins	Industrials	4,322,584	2.4
CSR	Technology	4,108,000	2.3
SuperGroup	Consumer Services	3,981,250	2.2
Pace	Technology	3,818,400	2.1
Berkeley	Consumer Goods	3,711,400	2.1
Redrow	Consumer Goods	3,588,000	2.0
DCC	Industrials	3,543,600	2.0

Sector Allocation	% of NAV
Industrials	31.9
Consumer Services	15.8
Financials	13.7
Technology	10.0
Consumer Goods	9.1
Oil & Gas	7.7
Basic Materials	5.7
Telecommunications	4.2
Health Care	2.0
Net Current Liabilities	(0.1)

Changes to Share Capital during the Quarter Ended 31 December 2013

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 2013

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

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

31 January 2014

 

END

 

 

IMSSDIFIFFLSELF