Schroder UK Mid Cap Fund plc announces its half year results for the six months ended 31 March 2024.
Key highlights
· The Company's NAV achieved a positive return of 9.3% during the period, however this was below the 11.4% return for the Benchmark. Over the long term the Company's performance has outperformed the Benchmark over the last 5 and 10 years.
· UK Mid-cap indices outperformed the broader UK market and were spurred by improving fundamentals as well as continued merger and acquisition activity in the sector.
· The Board is pleased to announce an increased interim dividend of 6 pence per share for the financial year ending 30 September 2024.
Robert Talbut, Chairman of Schroder UK Mid Cap, commented:
"From a valuation perspective the UK stock market represents one of the cheapest regional equity markets in the world, with the UK mid-cap sector looking particularly attractive. We continue to remain optimistic about the outlook for UK Mid-caps and the Company's portfolio holdings which are largely focused upon longer term growth businesses and the Portfolio Managers proven ability to find attractive investment opportunities".
The Half Year Report is also being published in hard copy format and an electronic copy of that document will shortly be available to download from the Company's webpage www.schroders.co.uk/ukmidcap.
The Company has submitted a pdf of the hard copy format of the Half Year Report to the National Storage Mechanism and it will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries:
Katherine Fyfe Company Secretary | 020 7658 6000 |
Andy Pearce Public Relations | 020 7658 6000 |