Schroder Uk Mid Cap Share Discussion Threads

[bramcych] 28/5/2020 16:29

SCP heavily tipped in Questor!

[tole] 27/5/2020 19:54

Any other decent funds knocking about that are trading at a decent discount and yet to have reflected the last few days upward moves that worth a look at alongside this one?

[its the oxman] 27/5/2020 12:01

Bought a few today c.420p. Touched 700p at its high and seems to have some decent holdings and yield. Estimate discount has widened to c.18%. Market has left it behind for now.

[masurenguy] 20/5/2020 09:22

Current discount to NAV is 15%

[masurenguy] 15/5/2020 18:28

Discount to NAV is currently 13.3%

[spectoacc] 15/4/2020 16:11

Including today's fall in holdings? ;)

[masurenguy] 15/4/2020 15:26

After the recent bounce the shareprice is now back again to an 18% discount to NAV.

[masurenguy] 17/3/2020 00:43

Now down 45% since the beginning of this year. It looks oversold to me, especially with the yield rising to 5% at this level and the discount to NAV at nearly 20%

[bmcollins] 21/7/2019 17:47

Sadly the discount is as wide as ever, 17% lasr week, when are the board going to take some action ?

[gorse] 20/6/2018 11:15

Discount looks rather large + there seems to be an active investor on board, so I've had two top-ups this morning.

[laozhu] 22/3/2018 10:16

I think there are a few shareholders on the forum. Looking at performance the medium term is poor and Board a) skate over this b) do not own significant holding relative to their annual fees and c) make derisory buy backs so compounding the 16% discount problem. I have written to the chairman. If other did the same it might have some impact. Address [e-mail] or 31 Gresham Street EC2V 7QA

Dear Mr Sanderson

I have a small holding in the Schroder UK Mid Cap Investment Trust. That is, I thought it was small until I saw the derisory holdings of the board members.
You lament the discount as though it were an alien affliction. It is not. The achievements of 2007-13 are long past. The last five years, excepting 2017 have been mediocre. 3 & 5 years NAV total returns of 28 and 64.8 as of today may broadly match the FMC index but this is a near 1% fee, actively managed fund fishing in a large pool of relatively poorly followed assets. Compare with JP Morgan Mid Cap (37 and 102%) and you will see why you are out of favour. It was not helped by the company purchase of shares last year being so derisory.
Now is a time for some board leadership before someone else forces the issue. Directors shareholding should be in line with their trust income at least. You need to explicit with the management about performance failings and clear where they lead if continued. Purchases of nearer £20M are needed to close the discount. Fees should be cut or partially reset to performance. The starting point is stop waffling about the long term and start with the record that is most relevant and examining the things the board can change – the discount the fees and the manager.