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Schroder Inc Growth (SCF)

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Monday 13 December, 2010

Schroder Inc Growth

Interim Management Statement

RNS Number : 8695X
Schroder Income Growth Fund PLC
13 December 2010
 



SCHRODER INCOME GROWTH FUND PLC

 

Interim Management Statement for the Quarter ended 30 November 2010

 

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 September 2010 to 30 November 2010.

 

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

 

The Annual General Meeting of the Company was held on 13 December 2010 with all resolutions being passed by shareholders, including Resolution 8, approving the continuation of the Company as an investment trust for a further five year period and Resolution 9, approving amendment to the Company's Investment Policy. 

 

There have been no other material events or transactions that have taken place in respect of the Company between 1 September 2010 and the date of publication of this Statement.

 

First Interim Dividend for the year ending 31 August 2011

 

The Board has declared a first interim dividend of 1.60p net per share for the year ending 31 August 2011, payable on 31 January 2011 to shareholders on the register on 24 December 2010.

 

Company Statistics as at 30 November 2010

 

Net Assets

£131.9 million

Net Asset Value per Ordinary Share (excluding current year undistributed revenue)

 

191.96p

Share Price

189.50p

Discount

1.3%

Number of Portfolio Holdings

30

 

Cumulative Performance* to 30 November 2010

 

Performance over

3mnths

6mnths

1yr

3yr

5yr

Share Price (Total Return)

4.0%

10.2%

15.5%

13.0%

24.8%

Net Asset Value (Total Return)

 

5.8%

 

9.3%

 

11.1%

 

(0.3)%

 

19.3%

FTSE All-Share Index (Total Return)

 

6.8%

 

8.6%

 

11.5%

 

(2.3)%

 

24.5%

 

Source for all performance data: Fundamental Data.

 



Portfolio Information as at 30 November 2010

 

Ten Largest Holdings

 

Stock Name

Sector Classification

 

Market Value (£)

% of Net Asset Value

Royal Dutch Shell 'B'

Oil & Gas

12,819,833

9.71

Vodafone Group

Telecommunications

10,961,239

8.30

GlaxoSmithKline

Healthcare

7,095,654

5.38

British American Tobacco

 

Consumer Goods

 

7,047,339

 

5.34

Unilever

Consumer Goods

6,820,677

5.17

Imperial Tobacco Group

Consumer Goods

5,957,044

4.51

Aviva

Financials

5,498,438

4.17

Legal & General

Financials

5,492,836

4.16

BP

Oil & Gas

5,044,705

3.82

RSA Insurance

Financials

4,958,508

3.76

 

Sector Allocation

 

Sector

% of Net Asset Value

Consumer Goods

20.27

Financials

20.05

Oil & Gas

13.48

Consumer Services

12.32

Telecommunications

10.55

Healthcare

8.59

Utilities

8.19

Industrials

5.21

Technology

0.92

Net current assets

0.42

 

Changes to Share Capital during the Quarter Ended 30 November 2010

 

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 30 November 2010

 

SEDOL Code

0791586

AIC Sector

Income and Growth

Launch Date

March 1995

Financial Year End

31 August

Next Dividend Payment Date

31 January 2011

 

Enquiries:

 

Louise Richard

Schroder Investment Management Limited

Company Secretary

 

Tel: 0207 658 6501

 

13 December 2010


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