SCHRODER INCOME GROWTH FUND PLC
Interim Management Statement for the Quarter Ended 31 May 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 March 2013 to 31 May 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
Third Interim Dividend for the year ending 31 August 2013
The Board has declared a third interim dividend of 2.00p per share for the year ending 31 August 2013, payable on 31 July 2013 to shareholders on the Register on 28 June 2013.
There have been no other material events or transactions that have taken place in respect of the Company between 1 March 2013 and the date of publication of this Statement.
Company Statistics as at 31 May 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 31 May 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 31 May 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 31 May 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 31 May 2013
SEDOL Code |
0791586 |
AIC Sector |
Income and Growth |
Launch Date |
March 1995 |
Financial Year End |
31 August |
Next Dividend Payment Date |
31 July 2013 |
Enquiries:
Louise Richard
Schroder Investment Management Limited
Company Secretary
Tel: 0207 658 6501
17 July 2013