SCHRODER UK MID CAP FUND PLC
Interim Management Statement for the Quarter Ended 31 December 2012
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 September 2012 to 31 December 2012.
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 Mid 250 (ex Investment Companies) Index.
Material Events or Transactions
Annual General Meeting
The Annual General Meeting of the Company was held on 29 January 2013. All resolutions set out in the Notice of Meeting were duly passed.
Retirement of Director
As part of the refreshment of the Board, Mr Chris Jones retired as a Director of the Company at the Annual General Meeting held on 29 January 2013 and did not seek re-election.
Mr Jones has served as a non-executive Director of the Company since 1994 and the Directors extend their wholehearted gratitude for the invaluable contribution that he has made to the success of the Company over the last 18 years.
Final Dividend for the Year Ended 30 September 2012
A final dividend of 6.82p per share for the year ended 30 September 2012 was paid on 30 January 2013 to shareholders on the register on 4 January 2013.
No other material events or transactions have taken place in respect of the Company between 1 October 2012 and the date of publication of this Statement.
Company Statistics as at 31 December 2012
Net Assets |
£129.1m |
Net Asset Value per Ordinary Share |
357.25p |
Share Price |
298.13p |
Discount |
16.55% |
Number of Portfolio Holdings |
68 |
Gearing |
3.6% |
Yield |
2.3% |
Cumulative Performance to 31 December 2012
|
|
||
Performance over |
3 months
|
6 months
|
1 year
|
Share Price (total return) |
7.6% |
25.8% |
36.3% |
Net Asset Value (total return) |
8.6% |
20.4% |
31.3% |
FTSE 250 (ex Investment Trusts) Index |
6.4% |
15.9% |
28.7% |
|
|
|
|
Source: Morningstar.
Portfolio Information as at 31 December 2012
Ten Largest Holdings
Stock Name |
Sector Classification |
Market Value (£)
|
% of NAV
|
Ashtead |
Industrials |
4,450,950 |
3.45 |
Elementis |
Basic Materials |
3,121,200 |
2.42 |
William Hill |
Consumer Services |
3,039,750 |
2.35 |
Daily Mail & General Trust |
Consumer Services |
3,027,750 |
2.34 |
Berkeley |
Consumer Goods |
2,980,100 |
2.31 |
Talk Talk Telecom |
Telecommunications |
2,902,500 |
2.25 |
Pace |
Technology |
2,806,500 |
2.17 |
Invensys |
Technology |
2,762,500 |
2.14 |
Diploma |
Industrials |
2,717,500 |
2.10 |
Dechra Pharmaceuticals |
Health Care |
2,706,750 |
2.10 |
Sector Allocation |
% of NAV
|
Industrials |
39.83 |
Consumer Services |
18.81 |
Technology |
10.02 |
Consumer Goods |
9.68 |
Financials |
7.68 |
Basic Materials |
6.56 |
Oil & Gas |
4.99 |
Telecommunications |
4.02 |
Health Care |
2.10 |
Net Current Liabilities |
(3.69) |
Changes to Share Capital during the Quarter Ended 31 December 2012
There were no changes to the Company's share capital during the quarter.
As at the date of this Statement, there remain a total of 36,143,690 ordinary shares of 25p each in issue, each carrying one voting right. No shares are held in Treasury.
Company Information as at 31 December 2012
SEDOL Code |
0610841 |
Sector |
Equity Investment Instruments |
Launch Date |
April 1983 |
Financial Year End |
30 September |
|
|
Enquiries:
John Spedding
Schroder Investment Management Limited
Company Secretary
Tel: 020 7658 3206
4 February 2013