Our portfolio

As at 31 December 2022

Top 10 holdings

S&I Report
1. Oxford Nanopore (quoted)

Oxford Nanopore Technologies is developing and commercialising a new generation of nanopore-based electronic systems for analysis of single molecules, including DNA, RNA and proteins. (23.3% of total investments)

2. Atom Bank (unquoted)

Atom Bank is the UK’s first bank built exclusively for mobile. It is redefining what a bank should be, making things easier, more transparent and better value in a world of finance. (13.1% of total investments)

S&I Report
3. AMO Pharma (unquoted)

AMO Pharma is an emerging biopharmaceutical company developing new treatments for serious and debilitating diseases including rare genetic disorders. (6.8% of total investments)

4. Reaction Engines (unquoted)

Reaction Engines is developing its innovative SABRE engine to enable space and hypersonic travel more efficieint and more accesible. (5.2% of total investments)

5. Benevolent AI (quoted)

BenevolentAI creates and applies artificial intelligence (AI) and machine learning to transform the way medicines are discovered and developed. Benevolent integrates its technology into every step of the drug discovery process from hypothesis generation to late-stage clinical development. (4.9% of total investments)

6. Federated Wireless (unquoted)

Federated Wireless develops a spectrum controller for wireless networks and communication intended to revolutionise the wireless industry. (4.6% of total investments)

Rain forest
7. HP Environmental Technologies Fund (unquoted)

HP Environmental Technologies Fund LP is the investment vehicle that acquired Ombu Group Limited, a specialist investor in early and growth stage environmental technologies. (4.4% of total investments)

8. Genomics (quoted)

Genomics plc is a pioneering healthcare company that uses large-scale genetic information to develop innovative precision healthcare tools, and to bring new understanding to drug discovery. (3.7% of total investments)

9. Immunocore (quoted)

Immunocore is a pioneering T cell receptor biotechnology company, working to develop and commercialise a new generation of transformative medicines to address unmet needs. (3.3% of total investments)

10. Back Market (unquoted)

Back Market is contributing to a circular economy as the leading online marketplace dedicated to refurbished devices. (3.0% of total investments)

What are the risks?

Long-term outcomes are more binary – extremely attractive rewards for success but some businesses will inevitably fail to fulfil their potential and this may expose investors to the risk of capital losses

As it can take years for young businesses to fulfil their potential, this investment requires patience

The price of shares in the trust is determined by market supply and demand, and this may be different to the net asset value of the trust. This means the price may be volatile in response to changes in demand

The trust may invest in overseas securities and be exposed to currencies other than pound sterling – as a result, exchange rate movements may cause the value of the trust, individual investments, and any income paid to decrease or increase

The trust may invest in unquoted securities, which may be less liquid and more difficult to value, because they are generally not publicly traded – the lack of an open market may also make it more difficult to establish fair value

Young businesses have a different risk profile to mature blue-chip companies – risks are much more stock-specific, which implies a lower correlation with equity markets and the wider economy

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.

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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.