Interim Management Statement

RNS Number : 6235M

Schroder UK Mid Cap Fund PLC

18 August 2011

 



SCHRODER UK MID CAP FUND PLC

Interim Management Statement for the Quarter Ended 30 June 2011

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 April 2011 to 30 June 2011.

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 250 Index (ex Investment Companies)*.

*Benchmark index changed from with effect from 1 April 2011.

Material Events or Transactions

Retirement of Director

As part of the planned refreshment of the Board, Mr Maxwell Packe retired as a Director of the Company with effect from 27 May 2011.

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

Company Statistics as at 30 June 2011

Net Assets	£116.8m
Net Asset Value ("NAV") per Ordinary Share (excluding current year undistributed revenue)	318.44p
Share Price	269.50p
Discount	15.37%
Number of Portfolio Holdings	75
Net Effective Gearing	0.8%
Yield	2.2%

Cumulative Performance to 30 June 2011 (Total Return Basis)

Performance over	3 months	6 months	1 year
Share Price	3.9%	12.1%	43.7%
Net Asset Value	4.4%	10.5%	41.5%
FTSE 250 Index ex Investment Trusts**	4.3%	5.0%	31.5%

**Represents the return of the Company's previous benchmark, the FTSE All-Share, ex Investment Companies, ex FTSE 100, Total Return Index, chain linked to the current benchmark from 1 April 2011 following the change in the Company's benchmark on that date. 

Source for all performance data: Morningstar.

Portfolio Information as at 30 June 2011

Ten Largest Holdings

Stock Name	Sector Classification	Market Value (£)	% of NAV
Elementis	Basic Materials	3,268,000	2.77
Premier Oil	Oil & Gas	3,035,520	2.58
Lamprell	Oil & Gas	2,813,590	2.39
Croda international	Basic Materials	2,640,400	2.24
Domino Printing	Industrials	2,385,250	2.02
Senior	Industrials	2,363,400	2.01
Fidessa Group	Technology	2,324,400	1.97
Diploma	Industrials	2,253,000	1.91
Travis Perkins	Industrials	2,227,196	1.89
Berkley Group Holdings	Consumer Goods	2,186,200	1.85

Sector Allocation

Sector		% of NAV
Industrials	41.64
Consumer Services	14.75
Oil & Gas	9.03
Financials	8.70
Consumer Goods	8.64
Basic Materials	7.90
Technology	7.52
Healthcare	1.75
Utilities	1.66
Telecommunications	0.37
Other Net Liabilities	(1.97)

Changes to Share Capital during the Quarter Ended 30 June 2011

There were no changes to the Company's share capital during the quarter. There remain a total of 36,143,690 ordinary shares of 25p each in issue, each carrying one voting right. No shares were held in treasury during the quarter or at the date of this statement.

Company Information as at 30 June 2011

SEDOL Code	0610841
Sector	Equity Investment Instruments
Financial Year End	30 September
Next Dividend Payment  Date	January 2012

Enquiries:

Louise Richard

Schroder Investment Management Limited

Company Secretary

Tel: [phone]

18 August 2011

 

END

 

 

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