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When investing in a UK Equity Income fund, do you buy income or accumulation shares?

Income shares
Accumulation shares


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Contact details

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

Fund managers

* Andrew Brough02-Mar-1992 to Present
* Rosemary Banyard» 02-Mar-1992 to Present

Investment objectives

The fund’s investment objective is to achieve capital growth through investment in smaller companies in the United Kingdom. The policy is to invest in smaller companies in the UK which are expected to exhibit superior growth over the long term. The fund may also invest in a wide range of investments including transferable securities, collective investment schemes, warrants and money market instruments.

Key Information

Fund vs sector

  1y 3y
Position 25 / 53 19 / 52
Quartile 2 2

Fund ratings

FE Crown Rating: 4 FE Crown Rating


  1y 3y
Volatility 6.29 8.51
Alpha 2.00 5.49
Beta 0.64 0.76
Sharpe 0.52 1.89
Info Ratio -0.12 0.31
R2 0.77 0.80
Quartiles:   1  2  3  4   help with ratios
vs. UK Smaller Companies»
performance chart
ACC +1.3+64.5+120.5+37.5+18.1+5.7+26.8
  UK SMALLER COMPANIES   +0.2+53.0+91.4+33.6+14.2+2.7+21.8
Clean share class
   Bid OfferDateYieldOCF help CiticodeSEDOL
pdf SCHRODER INSTITUTIONAL UK SMALLER COMPANIES INST INC INC 575.40 (p) 30-Oct-2014 1.36 0.51% QA52 0787079
pdf SCHRODER INSTITUTIONAL UK SMALLER COMPANIES INST ACC ACC 914.30 (p) 30-Oct-2014 1.34 0.51% UM62 0789398

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 Unit Trust
Own ISA wrapper Fund has ISA Wrapper help with ratios Fund size£235.5m / $380.2m (30-Oct-14)
Savings plan Fund has Savings Plan  Launch02-Mar-1992
Pricing times16:00 Daily Dealing frequencyDaily
Dealing timesMon-Fri 09:00 to 17:00
Minimum initial£ 100,000
Minimum additional£ 20,000
Initial charge0.00%
Annual management charge0.50%
Note to chargesn/a
Trustee / DepositaryJP Morgan Trustee and Depositary Company Ltd
RegistrarSchroder Unit Trusts Limited
Dividend policyFeb 15 (Final), Aug 15
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed UK Smaller Companies
Largest holdings, 30-Sep-2014
Holding (%) Rank Fund factsheet Equity factsheet
Lamprell 3.87 1 - *
Avon Rubber 3.49 2 - *
Colefax Group 2.94 3 - *
Dart Group 2.87 4 - *
Photo-Me International 2.69 5 - *
Consort Medical 2.69 6 - *
Trifast 2.68 7 - *
Ted Baker 2.68 8 - *
MJ Gleeson Group 2.57 9 - *
Arrow Global Group 2.53 10 - *
Regional weightings, 30-Sep-2014
United Kingdom97.981 97.98% United Kingdom
Cash1.002 1.00% Cash
Other countries0.523 0.52% Other countries
Israel0.504 0.50% Israel
Sector weightings, 30-Sep-2014
Support Services11.661 11.66% Support Services
Software & Computer Services8.622 8.62% Software & Computer Services
Household Goods & Home Construction, Personal Goods8.203 8.20% Household Goods & Home Construction, Personal Goods
Financial Services7.264 7.26% Financial Services
Health Care Equipment & Services5.315 5.31% Health Care Equipment & Services
Industrial Engineering5.316 5.31% Industrial Engineering
Oil Equipment, Services & Distrib.5.157 5.15% Oil Equipment, Services & Distrib.
Aerospace & Defense4.918 4.91% Aerospace & Defense
Construction & Materials4.699 4.69% Construction & Materials
Media4.4710 4.47% Media
Leisure Goods4.1611 4.16% Leisure Goods
General Retailers4.0912 4.09% General Retailers
Travel & Leisure4.0213 4.02% Travel & Leisure
Electronic & Electrical Equipment3.7714 3.77% Electronic & Electrical Equipment
Real Estate Investment & Services3.2415 3.24% Real Estate Investment & Services
Pharmaceuticals & Biotechnology3.1416 3.14% Pharmaceuticals & Biotechnology
Chemicals2.4717 2.47% Chemicals
Industrial Transportation2.4218 2.42% Industrial Transportation
Food Producers2.0419 2.04% Food Producers
Equity Investment Instruments1.3120 1.31% Equity Investment Instruments
Cash1.0021 1.00% Cash
Mining0.8822 0.88% Mining
Technology Hardware & Equipment0.8823 0.88% Technology Hardware & Equipment
Life Insurance0.5924 0.59% Life Insurance
Oil & Gas Producers0.2025 0.20% Oil & Gas Producers
Not Classified0.1226 0.12% Not Classified
Alternative Energy0.0927 0.09% Alternative Energy

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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Asset allocation

UK Equities, 97.98%
97.9800% ofUK Equities
Cash, 1.00%
1.0000% ofCash
International Equities, 0.52%
0.5200% ofInternational Equities
Israeli Equities, 0.50%
0.5000% ofIsraeli Equities

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Sector analysis


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