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Contact details

ManagerGroupLogo
31 Gresham Street, London, EC2V 7QA
0800 718 788 (Dealing)
020 7658 6965 (Fax Number)
0800 718 777 (Main Number)

investorservices@schroders.com

Fund managers

* Paul Marriage03-Jan-2006 to Present
    view
* John Warren» 06-Sep-2010 to Present
Louise Nash» 01-Sep-2004 to 02-Jan-2006
Christopher Baird» 02-Aug-1996 to 31-Aug-2004


Investment objectives

The fund aims to provide capital growth. At least 80% of the fund will be invested in shares of UK companies that are in the bottom 10% of the UK stock market at the time the fund purchases them. The fund has no bias to any particular industry. The small cap universe is an extensive, diverse and constantly changing area of the UK market. Smaller companies offer investors exposure to some niche growth areas that, often, cannot be accessed through large companies. They also tend to grow more rapidly than larger firms and can go on to become household names. Our investment approach centres on stock selection, which means we focus on each company's ability to create value for shareholders, rather than try to predict what will happen in the wider economic environment. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively.

Key Information

Fund vs sector

  1y 3y
Position 46 / 53 17 / 52
Quartile 4 2

Fund ratings

BronzeMstar OBSR
Analyst
(Qualitative)
FE Crown Rating: 4 FE Crown Rating
(Quantitative)

Ratios

  1y 3y
Volatility 10.10 10.37
Alpha -6.90 5.53
Beta 1.06 0.85
Sharpe 0.00 1.71
Info Ratio -1.53 0.44
R2 0.82 0.67
Quartiles:   1  2  3  4   help with ratios
vs. UK Smaller Companies»
performance chart
chart
    1y3y5y12m-24m24m-36m36m-48m48m-60m
ACC -0.3+77.4+157.4+44.4+23.2+17.2+23.8
  UK SMALLER COMPANIES   +6.7+63.9+96.7+30.9+17.3+2.7+16.9
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf SCHRODER UK DYNAMIC SMALLER COMPANIES Z INC INC 313.00 (p) 01-Oct-2014 0.79 0.91% 0IF5 B5VQ012
pdf SCHRODER UK DYNAMIC SMALLER COMPANIES Z ACC 320.70 (p) 01-Oct-2014 0.79 0.91% KR20 0722036
Other share classes
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf SCHRODER UK DYNAMIC SMALLER COMPANIES A ACC 283.30 (p) 01-Oct-2014 0.08 1.66% KA63 3109294
pdf SCHRODER UK DYNAMIC SMALLER COMPANIES C INC INC 273.60 (p) 01-Oct-2014 0.52 1.16% KR11 0721981
pdf SCHRODER UK DYNAMIC SMALLER COMPANIES C ACC ACC 304.10 (p) 01-Oct-2014 0.52 1.16% KR22 0721936

The Ongoing Charges Figure (OCF) shows the drag on performance caused by operational expenses associated with a fund.

Expenses which are represented by this figure include payments to the manager, the trustee the custodian and their representatives. The figure also includes registration, regulatory, audit and legal fees, and the costs of distribution.

Performance fees, transaction costs, interest on borrowing, costs associated with derivatives, entry and exit fees and soft commissions are not included in the OCF calculation, and should be factored in separately by the investor.

The OCF is calculated by taking the sum of these expenses incurred in the last 12 months and dividing this by the average net assets of that class for the last 12 months.

Total Expense Ratio (TER) is a formula designed to show the ongoing costs to the investor associated with a fund, including some charges which are not factored into the annual management fee. In addition the fund’s annual fee, charges such as trading fees, audit and legal fees, and operational expenses are included in the TER, which is worked out by dividing the total cost of the fund by its total assets to arrive at a percentage.

Unlike the Ongoing Charges Figure, the TER takes into account performance fees. It does not include transaction costs paid to the custodian.

Detailed fund information
Fund type flag UK Open Ended Investment Company (OEIC)
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£736.1m / $1,193.2m (01-Oct-14)
Savings plan Fund has Savings Plan  Launch02-Aug-1996
Pricing times12:00 Daily Dealing frequencyDaily
Dealing timesn/a
Minimum initial£ 1,000
Minimum additional£ 500
Initial charge5.00%
Annual management charge1.50%
Note to chargesn/a
Trustee / DepositaryJP Morgan Trustee and Depositary Company Ltd
RegistrarJ.P. Morgan Trustee and Depositary Company Ltd
Multi-Managern/a
Indexn/a
Dividend policyJan 01 (Final), Jul 01
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed UK Smaller Companies
Largest holdings, 29-Aug-2014
Holding (%) Rank Fund factsheet Equity factsheet
Smart Metering Systems 3.07 1 - -
Johnson Service Group 2.93 2 - *
Clinigen Group 2.87 3 - -
Stock Spirits Group 2.82 4 - *
Crest Nicholson Holdings 2.60 5 - *
British Polythene Industries 2.48 6 - *
Wincanton 2.46 7 - *
HellermannTyton Group 2.42 8 - *
Staffline Group 2.34 9 - *
Cambian Group 2.23 10 - *
Total26.22 
Regional weightings, 29-Aug-2014
Region(%)Rank 
United Kingdom100.711 100.71% United Kingdom
UAE1.842 1.84% UAE
Cash-2.553 -2.55% Cash
Total100.00 
Sector weightings, 29-Aug-2014
Sector(%)Rank 
Industrials37.501 37.50% Industrials
Consumer Services18.772 18.77% Consumer Services
Consumer Goods15.573 15.57% Consumer Goods
Technology12.324 12.32% Technology
Financials6.545 6.54% Financials
Health Care6.406 6.40% Health Care
Basic Materials2.877 2.87% Basic Materials
Oil & Gas1.848 1.84% Oil & Gas
Utilities0.749 0.74% Utilities
Cash-2.5510 -2.55% Cash
Total100.00 

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated on a bid price to bid price basis (mid to mid for OEICs) with net income (dividends) reinvested. Performance figures are shown in Sterling unless otherwise specified.

 
 
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Hutch_Pod Sep 17th, 2014 at 08:00 AM

As this year's performance goes from bad to worse, I was somewhat relieved to read in CityAm Paul Marriage is taking action to resolve and indeed is worthy of an award.

http://www.cityam.com/1410914195/stockpickers-who-kept-steady-seismic-shift

Of course it is what I hoped but the lack of any substantive update aside from performance and holdings is very disconcerting. I contacted Schroders with my concerns but was told to speak to my broker - who have published an recent interview with Paul but the performance has worsened to new levels still.

The Artemis approach of regular fund updates from their managers is exceptional in comparison.

I will push Schroders through my broker and hope the reshuffling Paul has initiated bears fruit and bring this historically excellent fund back into the second or top quartile for the recent period. I have noticed in other UK smaller company funds held up rather well over the last few months so I remain positive overall on the sector.

Reply
Ilmarinen Jun 09th, 2012 at 08:10 AM

Sorry, another mobile phone typo. That last one should of course read 'X 1,000,000,.

Reply
Ilmarinen Jun 09th, 2012 at 08:05 AM

I typedca reply but coildn't copy the awkward security code at the end so will now try again. I wss wondering about this too so wrote an email to Cazenove whose Client Account or was it Client Services manager Stephen Gough replied very quickly by showing me where the information is on the Cazenove website. The answer is differences in minimum entry amounts: A class shares require 25,000, B 1,000 and B 1,000,000.

Reply
Theo Jun 18th, 2011 at 05:06 PM

I think this page should say UT or OEIC at the top, right after the name of the fund and also explain somewhere what A, B and X shares are. I suppose A means retail(why nor R?) ad B means institutional(why not I?), but what on Earth is X? This really is the only industry that only thinks of themselves and does not give two hoots for their milch cows.

Reply
 

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Asset allocation

UK Equities, 100.71%
100.7100% ofUK Equities
Emirian Equities, 1.84%
1.8400% ofEmirian Equities
Cash, -2.55%
-2.5500% ofCash

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