Schroder UK Mid Cap Fund - Private Investor

"The FTSE 250 index provides investors with exposure to a host of exciting opportunities. We can add significant value by picking dynamic mid cap companies that have the potential to grow to be included in the FTSE 100 index, which are at an interesting point in their life cycle, and/or which could ultimately prove to be attractive takeover targets."

Andy Brough and Jean Roche

Co-Managers of the Schroder UK Mid Cap Fund plc

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Uncovering the leading growth companies of the future

The opportunity

Aims to provide a total return in excess of the FTSE 250 (ex-Investment Companies) Index and an attractive level of yield, which can contribute a degree of stability to the fund’s total return
The potential for dividend growth through rising dividend payments from stocks held in the portfolio
Invests in dynamic mid cap companies that have the potential to grow to be included in the FTSE 100 index, which are at an interesting point in their life cycle, and/or which could ultimately prove to be attractive takeover targets
Managed by an award-winning fund manager backed by a team with extensive experience and expertise. Andy Brough¹ is an FE Alpha Manager and has worked at Schroders for more than 30 years. Jean Roche has 20 years of investment experience.
The fund has a consistent, robust and repeatable investment process and is currently ranked first out of 11 trusts in the AIC UK All Companies sector since launch.²

¹Andy Brough became Lead Manager on 1 April 2016. He has been named a FE Alpha Manager from 2014-2019. ²Ranking in Association of Investment Companies (AIC) Sector, UK All Companies, sourced from Morningstar from 2 May 2003 to 31 January 2020. Calculated using capital net asset values plus income reinvested. 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.

Meet the managers

Andy Brough

Head of the Schroders pan-European small and mid cap team

Andy has managed the well-known Schroder UK Mid 250 Fund since its launch in November 1999. His investment career started in 1987 when he joined Schroders as a UK equity fund manager. Previously he worked at Price Waterhouse where he qualified as a chartered accountant. Andy is head of the Schroders London-based pan-European small and mid cap team.

Jean Roche

Fund Manager, UK small and mid cap

Jean’s investment career started in 1999 after graduating with a BA in Mathematics and French and an MSc in Financial and Industrial Mathematics. Previously she worked at Panmure Gordon and Morgan Stanley, before moving to Hargreave Hale in 2013 as a fund manager. Jean joined Schroders in 2016 and became Co-Fund Manager of Schroder Mid Cap Fund plc in September 2016.

AGM Presentation

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Investment objective

The Company's investment objective is to invest in mid cap equities with the aim of providing a total return in excess of the FTSE 250 (ex-Investment Companies) Index.

Investment policy

The strategy is to invest principally in the investment universe associated with the benchmark index, but with an element of leeway in investment remit to allow for a conviction-driven approach and an emphasis on specific companies and targeted themes. The Company may also invest in other collective investment vehicles where desirable, for example to provide exposure to specialist areas within the universe. The Company may hold up to 20% of its portfolio in equities and collective investment vehicles outside the benchmark index.

The Manager has adopted a unique and consistent investment process, taking a stock specific approach with an emphasis on growth companies. Sector weightings play a secondary role, resulting naturally from stock selection. Fundamental research forms the basis of each investment decision taken by the Manager, which carries out its own research with numerous company contacts. When analysing stocks, the Manager looks for companies with strong management teams with a proven record, good future prospects and a strong business franchise within their markets.

The approach to stock selection

Investor profile

May be suitable for investors who:

are aiming for capital growth and willing to invest in a higher-risk fund
are willing to accept possible short-term losses for the benefit of potential long-term gains
are looking for exposure to small and medium-sized UK companies
are comfortable with the risks associated with an equity-based investment
have a medium- to long-term investment horizon of three to five years or more

May not be suitable for investors who:

are seeking a lower-risk fund
don’t want to put their capital at risk
are uncomfortable with the level of risk associated with equity-based investment
have a short-term investment horizon
can’t tolerate short-term volatility
are uncomfortable with the risks associated with investing in small and medium-sized companies

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.

Getting started

Investment trusts offer a flexible and effective way to gain exposure to some of the world's most dynamic markets and regions, and can be used to meet a variety of investment outcomes. For more information on how Schroder UK Mid Cap Fund Plc shares can be bought and sold, visit our How to invest page.

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Contact Schroders

Schroders is a world-class asset manager operating from 35 locations across Europe, the Americas, Asia, the Middle East and Africa.

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For any further questions, please contact us.

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.

Marketing material.

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

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.

Please note: for the Schroder UK Public Private Trust plc, the important information is below:

Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. Registration No. 1893220 England. Authorised and regulated by the Financial Conduct Authority.

Schroder UK Public Private Trust plc is incorporated in England and Wales, company number 09405653. Registered as an investment company under section 833 of the Companies Act 2006. Registered address Beaufort House, 51 New North Road, Exeter, EX4 4EP.

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.

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