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