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SCHRODER SMALL CAP DISCOVERY A

SCHRODER SMALL CAP DISCOVERY A - Overview

Overview of SCHRODER SMALL CAP DISCOVERY A

The fund aims to generate superior long-term returns by investing in smaller companies operating in higher growth economies. The fund sits in the Specialist sector and can invest worldwide, but the bulk of investments are likely to be in Asia (ex Japan) and emerging markets.

  • Standard Initial Charge 0.00%
  • Initial charge via Bestinvest 0.00%

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched March, 2012
Size £129m
Yield 0.8%
Charging basis Income
Dividends paid 15 Jun

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 1.50%
Ongoing charges figure 2.04%

Risks

Before investing make sure you have understood the risks relevant to the fund by reviewing our Risk Warnings section. Further information on the risks are contained in the fund's Key Investor Information Document, which we make available to you before you make a decision to invest, alternatively it is available on request.

Bestinvest view

Smaller companies in emerging economies offer a higher degree of exposure to local markets than their larger counterparts as well as higher growth prospects, but this comes at the expense of greater volatility. They are also less researched than larger companies, creating more opportunities for active fund managers to add value. Manager Matthew Dobbs has been with Schroders for over 30 years and has an outstanding track record investing in Asia, so this fund is clearly one to watch.

Portfolio

Allocation Proportion(%)
Equity 96
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 4
Allocation Proportion(%)
UK 3
Europe 4
North America 0
Japan 1
Pacific 32
Other Equity 0
Allocation Proportion(%)
Large Caps 27
Mid Caps 49
Small Caps 24

View all performance data for this fund

Investment process

No information available.

Live feed

Bid price(inc) 62.10p
Accum units 64.26p
Fund commentary
Fund data updated on 04/05/16

Asset allocation

Allocation Proportion(%)
Equity 96
High yield bonds 0
Quality bonds 0
Property 0
Commodities 0
Hedge 0
Fund cash 4

Equity Geographic

Allocation Proportion(%)
UK 3
Europe 4
North America 0
Japan 1
Pacific 32
Other Equity 0

Equity Capitalisation

Allocation Propor
tion(%)
Large Caps 27
Mid Caps 49
Small Caps 24

Top 10 holdings

As at: 31/03/2016
2.2567%Medy-Tox Inc
2.2162%Best Pacific Intl Hldgs Ltd
2.1486%Belvedere
1.9997%Arvind Ltd
1.9261%Haitian International Holdings
1.8807%Supreme Industries Ltd (The)
1.8672%S-1 Corp
1.8623%Hollysys Automation Technologies
1.8404%Apollo Hospitals Enterprise
1.8188%Chroma Ate Inc
Source: Trustnet

Sector breakdown

Consumer Discretionary 26%
Industrials 19%
Health Care 13%
Information Technology 12%
Financials 7%
Consumer Staples 7%
Money Market 7%
Materials 5%
Telecommunications Utilities 3%
Utilities 1%

Portfolio details

70-100 stocks.

Constraints

No information available.

Average monthly relative returns Bestinvest MRI
11/12 12/13 13/14 14/15 15/16   3 years 5 years Career 3 years 5 years Career
0.24% 0.69% 0.44% -0.22%   0.31% 0.29% 85.50% 90.70%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Matthew Dobbs

Manager. Born in 1959, Dobbs graduated in History & Economics from Oxford. His investment career commenced in 1981 when he joined Schroders as a UK Investment Analyst. He was seconded to New York in 1983 and from 1985 he was Head of the Investment Division in Singapore. He returned to London in 1987 with responsibility for specialist Far Eastern equity portfolios. In 1996 Dobbs returned to Singapore as Global Regional Managing Director of SIM in South East Asia. Since 1999 he has managed Pacific Basin equities and is also responsible for multi-regional small cap portfolios.

Track record

Matthew Dobbs has 4 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.29%. During the worst period of relative performance (from November 2014 - May 2015) there was a decline of 11% relative to the index. The worst absolute loss has been 13%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 91%.

Periods of worst performance
Absolute -13% (March 2015 - August 2015)
Relative -11% (November 2014 - May 2015)

Sector record since April 2012 (4 yrs)




About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

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