SCHRODER UK MID CAP FUND PLC
Interim Management Statement for the Quarter Ended 31 December 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 October 2011 to 31 December 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 Mid 250 (ex-Investment Companies) index*.
*Benchmark index changed with effect from 1 April 2011.
Material Events or Transactions
There have been no material events or transactions that have taken place in respect of the Company between 1 October 2011 and the date of publication of this Statement.
Final Dividend for the year ended 30 September 2011
A final dividend of 6.20p net per share for the year ended 30 September 2011 was paid on 31 January 2012 to shareholders on the register on 6 January 2012.
Annual General Meeting
The Annual General Meeting of the Company was held on 27 January 2012. All resolutions set out in the Notice of Meeting were duly passed.
Company Statistics as at 31 December 2011
Net Assets |
£100.5m |
Net Asset Value per Ordinary Share (excluding current year undistributed revenue) |
270.14p |
Share Price |
224.88p |
Discount (ex income) |
16.77% |
Number of Portfolio Holdings |
72 |
Gearing |
0.6% |
Yield |
2.8% |
Cumulative Performance to 31 December 2011 (Total Return Basis)
|
|
||
Performance over |
3 months |
6 months |
1 year
|
Share Price (Total Return) |
3.2% |
(16.6%) |
(6.5%) |
Net Asset Value (Total Return) |
5.0% |
(15.0%) |
(6.1%) |
FTSE 250 Index (ex Investment Cos)* |
3.8% |
(14.6%) |
(10.3%) |
**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, the FTSE Mid 250 (ex-Investment Companies) Index, 1 April 2011 following the change in the Company's benchmark on that date.
Source for all performance data: Morningstar.
Portfolio Information as at 31 December 2011
Ten Largest Holdings
Stock Name |
Sector Classification
|
Market Value (£) |
% of NAV |
Ashtead Group |
Industrials |
2,700,000 |
2.66 |
Elementis |
Basic Materials |
2,606,800 |
2.56 |
Croda International |
Basic Materials |
2,525,600 |
2.48 |
Premier Oil |
Oil & Gas |
2,461,600 |
2.42 |
Senior |
Industrials |
2,223,000 |
2.19 |
Kier Group |
Industrials |
2,162,268 |
2.13 |
Berkley Group Holdings |
Consumer Goods |
2,157,300 |
2.12 |
Dechra Pharmaceuticals |
Healthcare |
2,139,834 |
2.11 |
Dignity |
Consumer Services |
2,041,250 |
2.01 |
Diploma |
Industrials |
2,038,200 |
2.01 |
|
|
|
|
Sector Allocation
Sector |
% of NAV
|
Industrials |
36.91 |
Consumer Services |
14.53 |
Financials |
10.76 |
Consumer Goods |
9.99 |
Technology |
8.14 |
Basic Materials |
7.74 |
Oil & Gas |
7.14 |
Healthcare |
2.12 |
Utilities |
1.94 |
Telecommunications |
1.34 |
Other Net Liabilities |
(0.61) |
Changes to Share Capital during the Quarter Ended 31 December 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 are held in treasury.
Company Information as at 31 December 2011
SEDOL Code |
0610841 |
Sector |
Equity Investment Instruments |
Launch Date |
25 April 1994 |
Financial Year End |
30 September |
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Enquiries:
Jonathan McGuire
Schroder Investment Management Limited
Company Secretary
Tel: 020 7658 3496
13 February 2012