Schroder British Opportunities Trust plc - SBO

Seeking out companies with the potential for high, sustained growth

Why invest in SBO?

The UK is one of the most innovative economies in the world and is home to an abundance of exciting new investment opportunities. By investing across both public and private equity markets, SBO has access to a broader universe of exceptional opportunities from which to select the very best of Britain’s fastest-growing young businesses.

A best of British portfolio

With high corporate governance standards and an entrepreneurial heritage, there are a wealth of innovative opportunities among British businesses, which can offer strong long-term growth potential.

Highly experienced managers

Combining Schroder’s public equity and private equity investment expertise in a uniquely compelling investment proposition.

A broader UK opportunity set

Taking full advantage of both public and private equity markets means access to an enhanced UK investment universe of high quality, high growth companies, maximising the opportunity for value creation.

Key information

Slide 1 of 6
Annual Report & Accounts 2024
Investor Presentation: Annual Results
Kepler Research Note
Latest Factsheet
Key Information Document
Morningstar Report

Annual Results 2024

On 16 July, Co-Portfolio Managers Tim Creed and Uzo Ekwue presented the annual results of the Trust for the year ended 31 March 2024. A copy of the presentation can be download above.

Our portfolio

As at 31 March 2024

Portfolio Company Updates

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Pioneering British AI chip designer Graphcore bought by Japanese firm
Rapyd acquires payu gpo to expand fintech and payments solutions globally
Cera ranked Number 1 UK HealthTech company in the HealthTech50 list for 2023
Mintec announces the acquisition of AgriBriefing
Parkmobile becomes EasyPark
c. Paperspace and Graphcore launch ‘pay-as-you-grow’ gradient notebooks
Mintec acquires CommoPrices to extend its coverage of commodity price data and intelligence
Double win for Graphcore in industry-leading graph neural network challenge
Graphcore and Aleph Alpha have unveiled a significant advance in AI efficiency


For further performance data, please visit the London Stock Exchange website.

Ongoing charge (as at July 2023): 1.39%

Awards and ratings

Elite Radar logo HQ

Source: FundCalibre, July 2024

Logo showing awards logo

Source: Awarded to Schroders by Investment Week, 2023

Press and external media

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Kepler: Annual Results Analysis
Kepler: Interim Results Analysis
Portfolio Adviser: Schroders’ Ekwue: Smaller companies are coming out of the wilderness
Mail on Sunday Fund Focus
Podcast: The strong growth potential for UK equities
QuotedData Weekly Show - July 2023
This is Money: The £50m trust that's investing in the best of UK business
Trustnet: Six bargain trusts investors need to watch out for
YourMoney: Big investment trust discounts on well-known companies: Should you buy?
This is Money: 'Is it time to buy British?' with Uzo Ekwue
FundCalibre: How will Public and Private markets fare in 2023?
Private bets pay off for Schroder British Opps but discount deepens
PODCAST: 'Why are UK stocks so cheap?' - Uzo Ekwue
Investment Week: Rory Bateman: Why is the UK investment climate so hot right now? (23/09/21)

Schroders insights

The Portfolio Managers

A powerful combination of public equity and private equity expertise

Slide 1 of 4

Rory Bateman

Co-Portfolio Manager, Co-Head of Investment and Head of Equities

Tim Creed

Co-Portfolio Manager, Head of Private Equity Investments, Schroders Capital

Uzo Ekwue

Co-Portfolio Manager, Schroder British Opportunities Trust

Peraveenan Sriharan

Co-Portfolio Manager, Schroder British Opportunities Trust

Corporate Governance

Find out more about the Company's Board, view key dates and keep up with regulatory news.


Slide 1 of 13
Annual Report and Accounts 2024
Interim Report and Accounts 2023
2023 AGM Results
Privacy Policy
Financial Crime Policy
Schroder British Opportunities Trust Flyer
FCA FUND 3.3.5R Disclosures
Pre-investment AIFMD Disclosure
Schedule of matters reserved to the Board
Terms of Reference: Management Engagement Committee
Terms of Reference: Nomination Committee
Terms of Reference: Audit & Risk Committee

Document archive

Annual Reports & Accounts

2023 / 2022 / 2021

Interim Reports & Accounts

2023 / 2022 / 2021

AGM Results

2023 / 2022 / 2021

Fund Risk Considerations - Schroder British Opportunities Trust plc

  • Concentration risk: The Company may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the company, both up or down.

  • Counterparty risk: The Company may have contractual agreements with counterparties. If a counterparty is unable to fulfil their obligations, the sum that they owe to the Company may be lost in part or in whole.

  • Currency risk: If the Company’s investments are denominated in currencies different to the currency of the Company’s shares, the Company may lose value as a result of movements in foreign exchange rates, otherwise known as currency rates.

  • Derivatives risk: Derivatives, which are financial instruments deriving their value from an underlying asset, may be used to manage the portfolio efficiently. A derivative may not perform as expected, may create losses greater than the cost of the derivative and may result in losses to the Company.

  • Gearing risk​: The Company may borrow money to make further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase by more than the cost of borrowing, or reduce returns if they fail to do so. In falling markets, the whole of the value in such investments could be lost, which would result in losses to the Company.

  • Liquidity Risk: The price of shares in the Company is determined by market supply and demand, and this may be different to the net asset value of the Company. In difficult market conditions, investors may not be able to find a buyer for their shares or may not get back the amount that they originally invested. Certain investments of the Company, in particular the unquoted investments, may be less liquid and more difficult to value. In difficult market conditions, the Company may not be able to sell an investment for full value or at all and this could affect performance of the Company.

  • Market risk: The value of investments can go up and down and an investor may not get back the amount initially invested.

  • Market Risk: The value of investments can go up and down and an investor may not get back the amount initially invested.

  • Operational risk​: Operational processes, including those related to the safekeeping of assets, may fail. This may result in losses to the Company.

  • Performance risk: Investment objectives express an intended result but there is no guarantee that such a result will be achieved. Depending on market conditions and the macro economic environment, investment objectives may become more difficult to achieve.

  • Private market valuations, and pricing frequency: Valuation of private asset investments is performed less frequently than listed securities and may be performed less frequently than the valuation of the Company itself. In addition, in times of stress it may be difficult to find appropriate prices for these investments and they may be valued on the basis of proxies or estimates. These factors mean that there may be significant changes in the net asset value of the Company which may also affect the price of shares in the Company.

  • Share price risk: The price of shares in the Company is determined by market supply and demand, and this may be different to the net asset value of the Company. This means the price may be volatile, meaning the price may go up and down to a greater extent in response to changes in demand.

  • Smaller companies risk: Smaller companies generally carry greater liquidity risk than larger companies, meaning they are harder to buy and sell, and they may also fluctuate in value to a greater extent.