Schroder UK Mid & Small Cap Fund Share News (SCP)

LONDON (Alliance News) - Schroder UK Mid Cap Fund Ltd Tuesday said it outperformed its benchmark, the FTSE 250 excluding investment companies index, in its first half.

In the half year to end-March it reported a total return of 3.0%, ahead of the 2.2% return seen by its benchmark.

It said, however, its share price disappointed during the period seeing a negative total return of 6.2%.

The fund proposed an interim dividend of 2.75 pence, up from 2.50 pence.

"There are a number of uncertainties facing UK companies at the moment, be it from the low-growth environment worldwide or domestic issues such as the EU referendum and implementation of the new National Living Wage," Chairman Eric Sanderson said in a statement.

"While uncertainty and volatility may remain a feature of the short and medium term outlook for financial markets and economies, the board remains confident that attractive opportunities exist for growth and that the manager will identify these," Sanderson added.

Shares in Schroder UK Mid Cap closed up 0.5% at 444.50 pence.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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