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Schroder Inc Growth (SCF)

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Tuesday 30 December, 2008

Schroder Inc Growth

Interim Management Statement

RNS Number : 9064K
Schroder Income Growth Fund PLC
30 December 2008
 

SCHRODER INCOME GROWTH FUND PLC


Interim Management Statement for the Quarter ended 30 November 2008


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 September 2008 to 30 November 2008


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. 


First Interim Dividend for the year ended 31 August 2009


The Board declared a first interim dividend of 1.60net per share for the year ending 31 August 2009, payable on 30 January 2009 to shareholders on the register on 30 December 2008


Annual General Meeting


The Annual General Meeting of the Company was held on 11 December 2008All resolutions set out in the Notice of Meeting were duly passed.


Election of Director


The Company is pleased to announce the election of Mr David Causer as a non-executive Director of the Company at the Annual General Meeting held on 11 December 2008Mr Causer, 58, is a fully qualified Chartered Accountant and a member of The Securities Institute. He has had a number of senior positions within financial organisations including acting as Finance Director of Mercury Asset Management Group plc and as a Managing Director of Merrill Lynch Investment Managers until 2001. He was Finance Director of The British Red Cross Society until December 2007.


Company Statistics as at 30 November 2008


Net Assets

£112.7 million

Net Asset Value per Ordinary Share (ex income)

162.25p

Share Price

150.00p

Discount

(7.6%)

Number of Portfolio Holdings

31


Cumulative Performance* to 30 November 2008


Performance over 

3mnths

6mnths 

1yr 

3yr

5yr 

Share Price (Total Return)

(10.6)%

(15.4)%

(18.6)%

(10.1)%

18.5%

Net Asset Value (Total Return)

(14.6)%

(18.3)%

(24.3)%

  (9.5)%

23.7%

FTSE All-Share Index Total Return

(24.8)%

(29.3)%

(32.2)%

(13.6)%

17.8%


Data Source: Fundamental Data.

Portfolio Information as at 30 November 2008


Ten Largest Holdings 


Stock Name

Sector Classification


Market Value (£)

% of Net Asset Value

Royal Dutch Shell 'B'

Oil & Gas

10,431,370

9.68

BP

Oil & Gas

9,933,578

9.22

GlaxoSmithKline

Healthcare

7,298,537

6.77

Vodafone

Telecommunications

6,462,786

6.00

HSBC

Financials

5,468,263

5.07

Astrazeneca

Healthcare

5,072,370

4.71

RSA Insurance

Financials

4,936,381

4.58

Imperial Tobacco

Consumer Goods

4,543,950

4.22

Pearson

Consumer Services

3,750,806

3.48

Unilever

Consumer Goods

3,692,939

3.43


Sector Allocation 


Sector

% of NAV 


Financials

18.16

Oil & Gas

18.07

Consumer Goods

12.96

Healthcare

10.98

Consumer Services

10.86

Utilities

10.79

Industrials

8.09

Telecommunications

5.73

Net current assets

4.36


Changes to Share Capital during the quarter ended 30 November 2008


 

Issued Ordinary shares of 10p each


As at 1 September 2008 

68,688,343

Shares bought back and cancelled during the period 

Nil

Shares bought for holding in treasury during the quarter

Nil

Shares already held in treasury

Nil

Shares cancelled from treasury

Nil

Shares remaining in issue as at 30 November 2008 

68,688,343


Material Events or Transactions


There have been no other material events or transactions that have taken place in respect of the Company between September 2008 and the date of publication of this Statement. 

 

  Company Information as at 30 November 2008


SEDOL Code 

0791586

Sector 

Income and Growth

Launch Date 

March 1995

Financial Year End 

31 August

Next Dividend Payment Date

30 January 2009



Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: 0207 658 6501


30 December 2008


This information is provided by RNS
The company news service from the London Stock Exchange
 
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