Interim Management Statement

RNS Number : 0444W

Schroder Income Growth Fund PLC

19 December 2013

 

SCHRODER INCOME GROWTH FUND PLC

Interim Management Statement for the quarter ended 30 November 2013

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 2013 to 30 November 2013.

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

First Interim Dividend for the year ending 31 August 2014

The Board has declared a first interim dividend of 2.00p per share for the year ending 31 August 2014, payable on 31 January 2014 to shareholders on the Register on 3 January 2014.

There have been no other material events or transactions that have taken place in respect of the Company between 1 September 2013 and the date of publication of this Statement.

Annual General Meeting

The Annual General Meeting of the Company was held on 19 December 2013. All resolutions set out in the Notice of Meeting were duly passed.

Company Statistics as at 30 November 2013

Net Assets	£170.3 million
Net Asset Value per Ordinary Share	247.94p
Share Price	244.75p
Discount	1.3%
Number of Portfolio Holdings	48
Net Effective Gearing	3.0%

Cumulative Performance to 30 November 2013 (total return basis)

Performance over:	3mnths	6mnths	1yr	3yr	5yr
Share Price	4.8%	19.9%	43.0%	60.8%	71.4%
Net Asset Value	7.5%	17.7%	35.0%	55.2%	52.5%
FTSE All-Share Index	5.0%	15.3%	30.1%	44.1%	35.2%

Source for all performance data: Morningstar.

Portfolio Information as at 30 November 2013

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of Net Asset Value
Vodafone	Telecommunications	10,933,242	6.4
GlaxoSmithKline	Healthcare	9,620,737	5.7
Legal & General HSBC	Financials Financials	8,807,319   8,679,376	5.2 5.1
British American  Tobacco	Consumer Goods	8,459,516	5.0
Royal Dutch Shell	Oil & Gas	8,199,450	4.8
Astrazeneca	Healthcare	6,939,864	4.1
Swedbank	Financials	6,523,081	3.8
BP	Oil & Gas	6,197,450	3.6
Imperial Tobacco	Consumer Goods	6,158,175	3.6

Sector Allocation

Sector	% of Net Asset Value
Financials	25.3
Consumer Services	18.3
Consumer Goods	12.6
Oil & Gas	12.5
Healthcare	9.7
Telecommunications	9.4
Industrials	5.8
Basic Materials Utilities	4.7   3.6
Technology	1.3
Net current liabilities	(3.2)

Changes to Share Capital during the Quarter Ended 30 November 2013

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 2013

SEDOL Code	0791586
AIC Sector	Income and Growth
Launch Date	March 1995
Financial Year End	31 August
Next Dividend Payment Date	31 January 2014

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

19 December 2013

 

END

 

 

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