REG - Schroder Inc Growth - Measures Taken to Enhance Shareholder Returns

Schroder Income Growth FundAnnouncement

14/05/2025 07:00

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RNS Number : 5346I  Schroder Income Growth Fund PLC  14 May 2025

14 May 2025

Schroder Income Growth Fund plc

(the "Company")

Measures Taken to Enhance Shareholder Returns

Together with the half year results released today for Schoder Income Growth
Fund plc, the Company announces a series of measures to enhance shareholder
returns.

The Company aims to deliver excellent long-term performance to shareholders.
In this respect, costs, the volatility of any discount to NAV, and the use of
leverage to raise returns, and reserves to support dividend growth are all
tools to boost shareholder outcomes.

 * Reduction in Investment management services fee and change in basis of
calculation: This fee will be reduced from 0.45% to 0.40% with effect from 1
September 2025. Furthermore, such fees will be charged on the lesser of market
capitalisation or NAV of the Company. In addition, the separate fee for
secretarial and administration services will be eliminated. The positive
effect of these moves, all other things being equal, will be an annual cost
reduction of over £300,000(1) (at an assumed prevailing 10% discount to NAV)
or 0.4p per share.

 * Adopting an increasingly active attitude to managing the volatility and level
of any discount of share price to NAV: The objective is to reduce the
discount's volatility and look to maintain the discount to NAV within a
single-digit range, in normal market conditions. The Board believes this best
reflects the underlying strength of the portfolio and is in the shareholders'
long-term interests.

 * Matt Bennison has been promoted to Co-Manager of the Company, bringing his
experience to work alongside Sue Noffke, Head of UK Equities, effective
immediately. Matt began his investment career at Schroders in 2012 and has
worked with Sue since 2015 as part of the Schroders' UK Prime team. For eight
years, since 30 September 2017, he has supported the Company's portfolio and
that same year expanded his role to include fund management responsibilities,
becoming co-manager of the Prime UK Equity strategy. The appointment reflects
our commitment to strengthening the Company's investment management team and
ensuring continuity in our strategy to deliver long-term value for
shareholders.

.

(1: Based on the market cap and NAV of the Company as at 12 May 2025.)

Enquiries:

 Natalia de Sousa (Company Secretary)      020 7658 6000
 Kirsty Preston / Charlotte Banks (Press)  020 7658 6000

 

 

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