Interim Management Statement

RNS Number : 6645K

Schroder Income Growth Fund PLC

19 July 2011

 

SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the quarter ended 31 May 2011

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 March 2011 to 31 May 2011.

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.

Lead Fund Manager

Sue Noffke, who has been providing cover for the Company's lead fund manager, Sonja Laud, during her maternity leave, has taken over responsibility on a permanent basis.

Third Interim Dividend for the year ending 31 August 2011

The Board has declared a third interim dividend of 1.60p net per share for the year ending 31 August 2011, payable on 29 July 2011 to shareholders on the Register on 15 July 2011.

Company Statistics as at 31 May 2011

Net Assets	£147.8 million
Net Asset Value per Ordinary Share (excluding current year undistributed revenue)	212.24p
Share Price	206.25p
Discount	2.8%
Number of Portfolio Holdings	37

Cumulative Performance to 31 May 2011 (total return basis)

Performance over	3mnths	6mnths	1yr	3yr	5yr
Share Price	4.8%	11.5%	22.8%	31.0%	32.8%
Net Asset Value	2.2%	12.3%	22.7%	20.9%	25.0%
FTSE All-Share Index	1.5%	10.8%	20.4%	13.0%	27.7%

Source for all performance data: Morningstar.

Portfolio Information as at 31 May 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Vodafone Group	Telecommunications	11,523,966	7.91
Royal Dutch Shell 'B'	Oil & Gas	10,740,919	7.37
British American Tobacco	Consumer Goods	8,228,195	5.65
Unilever	Consumer Goods	7,565,309	5.19
Legal & General	Financials	7,037,320	4.83
GlaxoSmithKline	Healthcare	6,961,115	4.78
Imperial Tobacco Group	Consumer Goods	6,869,868	4.71
Aviva	Financials	5,704,376	3.91
RSA Insurance	Financials	5,681,624	3.90
BP	Oil & Gas	5,546,866	3.81

Sector Allocation

Sector	% of Net Asset Value
Financials	20.97
Consumer Goods	18.02
Consumer Services	15.60
Oil & Gas	14.99
Telecommunications	11.33
Healthcare	8.36
Industrials	4.60
Utilities	4.19
Technology	1.33
Options	(0.05)
Net current assets	0.66

Changes to Share Capital during the quarter ended 31 May 2011

None - there remain a total of 68,688,343 ordinary shares of 10p each in issue. Each share carries one voting right.

Material Events or Transactions

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

Company Information as at 31 May 2011

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	29 July 2011

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

19 July 2011

 

END

 

 

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