Schroder UK Mid Cap Fund plc - SCP
Backing tomorrow’s UK market leaders todayCompany Performance
762.88p
NAV per Share (GBP)
As of 04.06.2026
722.00p
Share Price (GBP)
As of 04.06.2026
-5.36%
Premium/Discount to NAV
As of 04.06.2026
Important Update on the future of the Company - 20 May 2026
Announcement - for more information, please refer to the circular.
Key highlights:
The Board believes there is significant support for the ongoing future of the Company from a wide range of Shareholders. However, following discussions between the Board and Saba Capital Management, the Board is putting forward a 100 per cent. tender offer open to all Eligible Shareholders.
Saba have agreed to support the Tender Offer proposal, vote in favour of the Resolution and tender their Shares, as well as committing to a standstill agreement for three years.
The Board is proud of the Company's impressive track record and has full confidence in its experienced investment management team at Schroders.
The Board and Schroders are confident in the Company's strategy, believing there to be attractive long-term investments within the UK Mid Cap Sector, and are pleased that Shareholders will continue to have access to it through the investment trust structure.
The Directors will not tender their Shares and three Directors have committed to purchasing additional Shares.
The Board will implement a discount management policy aimed at maintaining a mid-single digit discount in normal market conditions with a view to minimising discount volatility to those Shareholders who remain invested.
Read circular >
UK Mid Cap Insights
This article explores why the FTSE 250 index is well suited to active investing and opportunistic dealmaking, highlighting companies such as Tate & Lyle and Spire Healthcare which have received takeover bids at significant premiums of around 57% and 66% to their pre-bid share prices respectively.
"Jean Roche, manager of the Schroder Mid-Cap fund, highlights the surge in share buybacks, in which companies buy their own shares to boost their share price.
She said: 'The UK has become the buyback capital of the world, which is a clear signal that management teams believe their own shares are too cheap."
In this webinar, Jean provides an introduction to the Schroder UK Mid Cap Fund, explaining her stock selection process, recent performance and how UK mid caps stand out relative to UK large caps.
The article outlines three reasons to consider SCP for your ISA or SIPP, highlighting the growth potential of UK mid-cap companies, the benefits of a specialist active investment approach, and strong M&A activity within the sector.
Mid-caps’ smaller size can offer a greater opportunity for future growth than their larger siblings on the FTSE 100, and a chance to be nimbler.
In this article, we showcase three stocks from SCP's portfolio as examples of companies with international exposure and growth potential.
Jean Roche presents the annual results of the trust for the year ended 30 September 2025.
In this episode, Jean introduces her unique investment framework - the “unique and flex stocks” philosophy - and shares how she builds a balanced portfolio of attractively-priced opportunities while managing downside risk. She also explores sectors showing strength, including defence and retail, and names well-known stocks such as Babcock, Dunelm, Currys, Mitie, and Games Workshop as examples of how UK mid-caps can combine stability and growth.
If you’ve been wondering whether UK equities are undervalued or how mid-cap investing compares to large and small-cap strategies, this episode offers deep insight from one of the most experienced managers in the market.
Jean Roche and James Goodman interview the leaders at the helm of companies in the FTSE 250 with the intent on learning more about the drivers to their financial success.
Why invest in SCP?
UK mid-caps are positioned in a sweet spot for innovation, disruption and growth. This is one of the key reasons why the UK Mid Cap index has beaten many other developed market indices over the long term [1]. The index has also produced a significant number of '30 baggers' over the last 30 years [2] and SCP has the opportunity to invest in the best of this diverse and dynamic investment universe.
UK mid caps offer extraordinary value
The Company provides access to an undervalued part of the UK stock market. Valuations among UK mid-caps look unusually low relative to UK large-caps as well as mid‑caps from elsewhere in the world. This may bode well for future performance.
An excellent performance history
Since Schroders became Manager in 2003, the Company has outperformed its Benchmark, the FTSE 250 ex Investment Trust index, returning 1,275%, or a 500% outperformance.[1] Meanwhile, its dividend has grown by a factor of 11.2x in the same period, from 2p to 22.4p in 2025.[2]
Decades of expertise and a proven approach
With more than 60 years of combined investing experience, the investment team looks to select a portfolio of around 50 of the most attractively valued companies, resulting in a high quality portfolio capable of delivering dependable long-term growth in a fast-changing world.
Download Key Material
Portfolio & Performance Hub
Source: Kepler Trust Intelligence, 2026
Source: Association of Investment Companies, 2026
In the Media
Listen to our Mid 250 Podcast
The FTSE 250 index is home to an impressive list of “multi-bagger” businesses. These are stocks which have provided investors with returns at a multiple of their starting value over a period of time.
In this podcast series, Manager Jean Roche and James Goodman interview the leaders at the helm of some of these companies, intent on learning more about the drivers to their financial success.
Available on all major podcasting platforms or browse our episode library below.
Disclaimer: Reference to stocks are for illustrative purposes only and does not constitute a recommendation to buy or sell. Companies that are referenced in the podcast may or may not be held within the Schroder UK Mid Cap Fund plc portfolio. Past performance is not a guide to future performance and may not be repeated.
Company Documents
Invest in the Schroder UK Mid Cap Fund plc (SCP)
It is easy to make regular, tax-efficient investments into investment trust shares with a UK online stockbroker. We recommend you seek financial advice from an independent adviser before making an investment decision.
References
[1] Source: Schroders, Refinitiv Datastream, rebased to 100 at 1 January 2000, data to 1 January 2026. Currencies are base currencies for individual indices.
[2] Source: Refinitiv, Schroders, based on stocks which appreciated in value 30x or more (based on total returns) in the 30 years to 31 December 2023 and had a minimum market capitalisation of £150 million.
[3] - NAV Ex income figures shown as cum income unavailable pre 2008, from 30 April (close) to 30 September 2025. Figures shown are net of fees. With effect from 1 April 2011, the Company’s benchmark has been the FTSE 250 (ex-Investment Trusts) Index. Prior to that date the benchmark was the FTSE All Share, ex. Investment Trusts Index, ex. FTSE 100. The since launch data has been chain-linked to reflect this.
[4] - The dividend history of the Company is available on the AIC website: https://www.theaic.co.uk/