Schroder UK Mid Cap Fund plc - SCP

Backing tomorrow’s UK market leaders today

Why invest in SCP?

UK Mid-caps are positioned in a sweet spot for innovation, disruption and growth. This is why the UK Mid Cap index has beaten most other developed market indices over the long term¹. The FTSE 250 is an incubator for growth in that it is home to many businesses that are riding the wave of long-term structural growth trends. Although they have proven products and services, they can have ahead of them a much longer and steeper growth trajectory than their large cap counterparts. Factors such as M&A, dividend growth and founder involvement also lie behind the success of UK Mid Caps.

An investment in the Schroder UK Mid Cap Fund is an investment in:

  • The sweet spot for innovation and disruption in the UK
  • A high conviction portfolio of around 50 companies with the potential to be tomorrow’s market leaders
  • A focus on companies that are resilient and adaptable in the face of change
  • A stable management team with a wealth of skills and experience
  • An investment trust that, since it's inception, has been the best performing in the Association of Investment Companies UK All Companies sector²

    Behind the trust: read our philosophy article >

[1] - Schroders, Bloomberg, rebased to 100 at 31 December 1992, data to 30 December 2022 where returns were shown in base currencies for each index.

[2] - Morningstar, 2023

Past performance is not a guide to future performance and may not be repeated.

Annual Results Webinar

In February 2023, Jean Roche, Fund Manager, presented the trust's annual results and market outlook

Key Information

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NEW: Interim Report & Accounts 2023
Latest Factsheet
Kepler Research Note
Morningstar Report
Key Information Document


For further performance data please visit the London Stock Exchange website

Ongoing charge (as at July 2023): 0.89%

Discrete yearly performance (%)

As at October 2023

Discrete yearly performance (%)

Oct 13 - Oct 14

Oct 14 - Oct 15

Oct 15 - Oct 16

 Oct 16 - Oct 17

Oct 17 - Oct 18

Oct 18 - Oct 19

Oct 19 - Oct 20

Oct 20 - Oct 21

Oct 21 - Oct 22

Oct 22 - Oct 23

Share Price











Net Asset Value











Reference Index - FTSE 250 excl. Investment Trusts Total Return











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.

SCP performance graph
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View portfolio holdings

Awards and ratings


Source: Morningstar, as at December 2023


Source: Kepler Trust Intelligence, 2023

In the media

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Morningstar: 13 Questions for Schroders’ Jean Roche
Citywire: Schroders’ Roche takes lead in UK mid-cap rally
QuotedData Weekly Show Presentation - April 2023
Vestpod podcast: How do fund managers pick stocks?
Panmure Gordon: Podcast interview with Simon French
Vox Markets: Interview with Jean Roche
THIS IS MONEY: "10 investment trusts I think could sparkle this year"
FTSE 250 Index celebrates 30th anniversary with Jean Roche
Interactive Investor: A trust available at a double discount, plus two recent buys

Trust communications

More UK insights from Schroders

Meet the Managers

"We apply a high conviction approach, managing a focused portfolio of resilient companies which are either disruptors, challenging the status quo, or are well-established companies which can grow sustainably as they reinvent themselves in response to disruption."

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Jean Roche

Fund Manager, Pan-European Small and Mid Cap Team

Andy Brough

Head of Pan-European Small and Mid Cap Team

Independent Board of Directors


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Annual Report and Accounts 2022
Interim Report & Accounts 2023
2023 AGM Results
Privacy Policy
Schroders Annual Sustainability Report
Financial Crime Policy
Terms of Reference: Management Engagement Committee
Terms of Reference: Nomination Committee
Terms of Reference: Audit & Risk Committee
Terms of Reference: Remuneration Committee
Alternative Investment Fund Managers Directive (AIFM) Disclosures


Annual Reports and Accounts

2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013 / 2012

Half Year Reports and Accounts

2022 / 2021 / 2020 / 2019 / 2018 / 2017 / 2016 / 2015 / 2014 / 2013

AGM Results

2022 / 2021 / 2020 / 2019



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Investing in the Schroder UK Mid Cap Fund plc

What are the risks?

Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested.

The Company invests in smaller companies that may be less liquid than in larger companies and price swings may therefore be greater than investment companies that invest in larger companies.

The Company will invest solely in the companies of one country or region. This can carry more risk than investments spread over a number of countries or regions.

As a result of the fees and finance costs being charged partially to capital, the distributable income of the Company may be higher but there is the potential that performance or capital value may be eroded.

The Company may borrow money to invest in further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase in value by more than the cost of borrowing, or reduce returns if they fail to do so.

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.

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Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

This marketing material is for professional clients or advisers only. This site is not suitable for retail clients.

Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered Number 4191730 England.

For illustrative purposes only and does not constitute a recommendation to invest in the above-mentioned security / sector / country.

Schroder Unit Trusts Limited is an authorised corporate director, authorised unit trust manager and an ISA plan manager, and is authorised and regulated by the Financial Conduct Authority.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.