Schroder Income Growth Fund plc - SCF
Reliably growing income for shareholders.Why invest in SCF?
The Schroder Income Growth Fund aims to achieve income growth in excess of inflation and capital growth as a result of that rising income.
SCF has grown its dividend for 28 consecutive years, since it was launched in 1995 – a feat that has earned it a place on the Association of Investment Companies’ list of dividend heroes.
Benefit from consistent rising income
SCF has delivered reliable dividend growth for shareholders in each of the last 28 years, allowing investors to capture the significant power of long-term compounding.
Rely on decades of deep expertise
Managed by Schroders Head of UK Equities, Sue Noffke, with support from an investment team with nearly a century of combined experience.
Capture long-term capital growth
Strong long-term performance through successful stock-picking, with the team repeatedly adding value across the market cap spectrum.
Key Information
Annual Results 2023
On 20 November 2023, Managers Sue Noffke and Matt Bennison presented the Trust's annual results for the year ended 31 August 2023. The presentation can be downloaded from the banner above.
Performance & fees
For further performance data please visit the London Stock Exchange Website
Ongoing charge (as at October 2023): 0.93%
Discrete yearly performance (%)
As at June 2024
Discrete yearly performance (%) | Jun 14 - Jun 15 | Jun 15 - Jun 16 | Jun 16 - Jun 17 | Jun 17 - Jun 18 | Jun 18 - Jun 19 | Jun 19 - Jun 20 | Jun 20 - Jun 21 | Jun 21 - Jun 22 | Jun 22 - Jun 23 | Jun 23 - Jun 24 |
|---|---|---|---|---|---|---|---|---|---|---|
Share Price (%) | 6.6 | -6.9 | 23.4 | 5.6 | 2.5 | -9.9 | 31.8 | -3.4 | 6.6 | 2.8 |
Net Asset Value (%) | 8.7 | -0.0 | 19.5 | 7.9 | -0.5 | -16.0 | 28.6 | 1.3 | 4.9 | 12.3 |
Reference Index (%) (FTSE All Share Total Return) | 2.6 | 2.2 | 18.1 | 9.0 | 0.6 | -13.0 | 21.5 | 1.6 | 7.9 | 13.0 |
Source: Morningstar, net income reinvested, net of ongoing charges and portfolio costs and where applicable, performance fees, in GBP.
Performance over 5 years
Source: Morningstar, net income reinvested, net of ongoing charges and portfolio costs and where applicable, performance fees, in GBP.
Awards and ratings
Source: Morningstar as at September 2024
Source: AIC, 2023
Source: FundCalibre as at September 2024
Source: Kepler Trust Intelligence, 2024
Source: Awarded to Schroders by Investment Week, 2023
In the media
Trust insights
Corporate Governance
Find out more about the Company's Board, view key dates and keep up with regulatory news.
Meet the manager
"The trust does what it says on the tin. Since launch the trust has raised the dividend every year and over time increases in the dividend have outpaced the rate of inflation."
Sue Noffke
Head of UK Equities
Documents
Investing in Schroder Income Growth Fund plc
Non-Mainstream Pooled Investments (NMPI) Status
The Company currently conducts its affairs so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company's shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in an investment trust.
Fund Risk Considerations: Schroder Income Growth Fund plc
- Capital erosion: Where fees are charged to capital instead of income, or a fixed distribution amount is paid regardless of the Company’s performance, there is the potential that performance or capital value may be eroded.
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.
Concentration risk: The fund 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 fund, both up or down.
Counterparty risk: The fund may have contractual agreements with counterparties. If a counterparty is unable to fulfil their obligations, the sum that they owe to the fund 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.