Schroder
Global Equity Income Fund
Interim Report and Accounts
January 2017
Contents
Schroder
Global Equity Income Fund
Fund Information1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Investment objective and policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Fund information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Ongoing charges figure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Total purchases and sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Review of Investment Activities1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Risk Profile1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
Risk and reward indicator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
Specific risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6
Net Asset Value and Comparative Tables1 . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Unit price range . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Net revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
Net asset value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8
Fund performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Portfolio Statement1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10
Summary of Portfolio Transactions1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Largest purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Largest sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
Statement of the Manager’s Responsibilities . . . . . . . . . . . . . . . . . . . . . . . .15
Statement of Total Return (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Statement of Change in Net Assets
Attributable to Unitholders (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16
Balance Sheet (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17
Notes to the Accounts (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Basis of preparation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Accounting policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
Distribution Table (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Interim distribution for the six months ended 15 January 2017 . . . . . . . . . . . . . .19
Corporate unitholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Equalisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
General Information1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Authorisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
Other information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
1 Collectively these comprise the Authorised Fund Manager’s report.
Schroder Global Equity Income Fund
Fund Information
Investment objective
and policy
The fund’s investment objective is to provide income and capital growth for
investors over the long term primarily through investment in equity and equity
related securities of companies worldwide which offer attractive yields and
sustainable dividend payments.
Investment will be in directly held transferable securities. The fund may also
invest in collective investment schemes, warrants and money market
instruments.
Financial
highlights
Dealing price
13.1.17
15.7.16
% change
A Income units
69.14p
57.68p
19.87
A Accumulation units
97.88p
79.96p
22.41
L Income units
77.00p
63.96p
20.39
L Accumulation units
84.01p
68.34p
22.93
Z Income units
94.79p
78.77p
20.34
110.30p
89.78p
22.86
15.3.17
15.3.16
0.9272p
0.8367p
Z Accumulation units
Interim distribution per
Z Income unit
Fund information
Launch date
18 May 2007
Launch price
50.00p per A Income unit
50.00p per A Accumulation unit
Launch date
8 November 2011
Launch price
50.00p per Z Income unit
50.00p per Z Accumulation unit
Launch date
Launch price
1 October 2013
50.00p per L Income unit
50.00p per L Accumulation unit
Accounting dates
Revenue allocation dates
Interim
Final
15 January
15 July
15 March
15 September
3
Schroder Global Equity Income Fund
Fund Information (continued)
Ongoing charges
figure
For the period
to 15.1.17
For the year
to 15.7.16
1.69%1
1.70%
1.69%
1
1.70%
0.86%
1
0.87%
L Accumulation units
0.86%
1
0.87%
Z Income units
0.94%1
0.95%
1
0.95%
A Income units
A Accumulation units
L Income units
Z Accumulation units
0.94%
1 The Ongoing charges figure is annualised based on the fees incurred
during the accounting period.
Total purchases
and sales
4
For the period
to 15.1.17
£000’s
For the year
to 15.7.16
£000’s
Total purchases
46,188
56,230
Total sales
46,471
41,742
Schroder Global Equity Income Fund
Review of Investment Activities
From 15 July 2016 to 13 January 2017, the price of Z Accumulation units
on a dealing price to dealing price basis rose 22.86%. In comparison, the
MSCI World Index generated a net total return of 15.21%1 in sterling
terms.
1 Source: Thomson Reuters Datastream.
Global stock markets delivered positive returns over the six month period and
the fund outperformed the benchmark. The portfolio’s outperformance was
driven by holdings in the financials sector, notably banks JPMorgan Chase,
HSBC Holdings and DNB, as well as insurer Ageas. There have been various
events in the news that we could suggest as reasons why these businesses
rallied so strongly over the six months. However, the reality is far more
pedestrian. Low valuation creates its own catalysts, and the low valuations of
these banks have allowed them to jump in response to unforeseen events. The
shares were simply cheap enough to respond positively.
Elsewhere, BGC Partners performed well. The group is best known for its
interdealer broker business which accounts for 60% of revenues. Semiconductor
equipment maker Kulicke & Soffa Industries was another top contributor
following good results during the period.
Publisher Pearson was the main individual detractor from fund performance amid
results showing declining revenues and weak student enrolment numbers in the
US. We note Pearson has made progress in strengthening its balance sheet via
the sale of non-core assets.
Instead of trying to second guess short term market movements, we focus on
identifying companies that have become significantly undervalued relative to their
long term earnings potential. We cannot forecast exactly when the market will
recognise the intrinsic value of our selected holdings. However, we believe the
fund is well positioned to capture both the capital returns generated by lowly
valued companies improving, and the significant income such companies
produce through paying growing dividends over time.
Fund Manager:
Ian Kelly
Fund manager of Schroder Global Equity
Income Fund, Schroder ISF Global Equity
Yield and Schroder ISF Global Dividend
Maximiser
Also Fund manager of Schroder ISF
European Equity Yield and the co-manager
of Schroder ISF European Dividend
Maximiser
Joined Schroders in May 2007 as an
analyst specialising in European insurance
and automobiles
Ian completed a PhD in Biophysics at
Newcastle University and a Masters Degree
in Investment Management at Cass
Business School, London
Chartered Financial Analyst (CFA)
charterholder
Please remember that past performance is not a guide to future performance
and it might not be repeated. The value of investments and the revenue from
them may go down as well as up and investors may not get back the amount
originally invested. Because of this, you are not certain to make a profit on your
investments and you may lose money.
5
Schroder Global Equity Income Fund
Risk Profile
Risk and reward
indicator
Lower risk
Potentially lower reward
1
2
Higher risk
Potentially higher reward
3
4
55
6
7
The risk category was calculated using historical performance data and may not
be a reliable indicator of the fund’s future risk profile.
The fund is in this category because it can take higher risks in search of higher
rewards and its price may rise and fall accordingly.
The fund’s risk category is not guaranteed to remain fixed and may change over
time.
A fund in the lowest category does not mean a risk free investment.
Specific risks
The fund invests in assets which are exposed to currencies other than sterling.
Exchange rates may cause the value of overseas investments and the revenue
from them to rise or fall.
The fund invests in emerging markets and the Far East. This involves a high
degree of risk and should be seen as long term in nature.
The fund invests in a smaller number of stocks. This carries more risk than funds
spread across a larger number of companies.
The fund may use derivatives for specific investment purposes. This involves a
higher degree of risk and may lead to a higher volatility in the unit prices of the
fund.
As a result of the expenses being charged wholly to capital, the distributable
revenue of the fund may be higher, but the capital value of the fund may be
eroded which may affect future performance.
For these reasons, the purchase of units should not normally be regarded as a
short term investment.
6
Schroder Global Equity Income Fund
Net Asset Value and Comparative Tables
Unit price range
Financial year to 15 July
A Accumulation units
Lowest
dealing
p
Highest
dealing
p
Lowest
dealing
p
2014
50.63
46.18
65.98
59.61
2015
59.39
47.23
79.77
62.83
2016
58.38
46.53
80.93
64.51
Financial period to
15 January 2017
69.27
56.18
98.06
79.53
Financial year to 15 July
L Income units
L Accumulation units
Highest
dealing
p
Lowest
dealing
p
Highest
dealing
p
Lowest
dealing
p
2014
55.42
50.00
55.42
50.00
2015
65.16
51.62
67.48
52.93
2016
64.74
51.42
69.17
54.94
Financial period to
15 January 2017
77.14
62.32
84.16
68.00
Financial year to 15 July
Net revenue
A Income units
Highest
dealing
p
Z Income units
Z Accumulation units
Highest
dealing
p
Lowest
dealing
p
Highest
dealing
p
Lowest
dealing
p
2014
68.04
61.70
72.92
65.50
2015
80.33
63.65
88.73
69.62
2016
79.73
63.34
90.88
72.20
Financial period to
15 January 2017
94.96
76.75
110.50
89.33
A Income units
pence per unit
A Accumulation units
pence per unit
2014
1.4738
1.9147
2015
1.5401
2.0606
2016
1.8091
2.5010
Financial period to 15 January 2017
0.6777
0.9594
L Income units
pence per unit
L Accumulation units
pence per unit
2014
1.3465
1.3464
2015
1.6895
1.7433
2016
2.0032
2.1325
Financial period to 15 January 2017
0.7531
0.8217
Financial year to 15 July
Financial year to 15 July
7
Schroder Global Equity Income Fund
Net Asset Value and Comparative Tables
(continued)
Z Income units
pence per unit
Z Accumulation units
pence per unit
2014
1.9762
2.1139
2015
2.0821
2.2919
2016
2.4680
2.8037
Financial period to 15 January 2017
0.9272
1.0793
Financial year to 15 July
Net asset value
Net asset value
£000’s
Net asset
value per unit
p
Number of
units in issue
A Income units
18,243
48.42
37,679,677
A Accumulation units
46,771
64.40
72,622,595
As at 15 July
2014
L Income units
711
52.79
1,346,118
L Accumulation units
1,850
54.14
3,417,182
Z Income units
9,965
65.12
15,305,374
11,040
71.23
15,497,820
A Income units
13,226
53.35
24,793,354
A Accumulation units
40,839
73.02
55,925,802
2,438
58.66
4,158,360
L Accumulation units
10,618
61.90
17,153,945
Z Income units
32,083
72.30
44,376,381
Z Accumulation units
25,127
81.38
30,876,666
Z Accumulation units
2015
L Income units
2016
A Income units
6,411
56.88
11,270,365
A Accumulation units
25,839
80.51
32,093,323
L Income units
16,368
63.08
25,949,097
L Accumulation units
20,638
68.81
29,991,556
Z Income units
45,689
77.68
58,817,065
Z Accumulation units
34,051
90.40
37,664,791
7,609
68.64
11,086,466
A Accumulation units
29,251
98.12
29,810,439
L Income units
19,670
76.43
25,734,596
L Accumulation units
27,481
84.22
32,630,659
Z Income units
58,253
94.09
61,909,880
Z Accumulation units
36,112
110.60
32,651,861
2017 at 15 January
A Income units
8
Schroder Global Equity Income Fund
Net Asset Value and Comparative Tables
(continued)
Fund performance
Net asset
value per unit
p
as at 15.1.17
Net asset
value per unit
p
as at 15.7.16
% change
A Income units
68.64
56.88
20.68
A Accumulation units
98.12
80.51
21.87
L Income units
76.43
63.08
21.16
L Accumulation units
84.22
68.81
22.40
Z Income units
Z Accumulation units
94.09
77.68
21.13
110.60
90.40
22.35
Please remember that past performance is not a guide to future performance
and it might not be repeated. The value of investments and the revenue from
them may go down as well as up and investors may not get back the amount
originally invested. Because of this, you are not certain to make a profit on your
investments and you may lose money.
9
Schroder Global Equity Income Fund
Portfolio Statement
Holding at Market Value
15.1.17
£000’s
% of net
assets
Asia
Hong Kong 5.97%
(15.7.16 – 5.34%)
CNOOC
3,195,000
3,366
1.89
Luk Fook Holdings International
1,012,000
2,492
1.40
NWS Holdings
3,425,000
4,787
2.68
10,645
5.97
Japan 3.17%
(15.7.16 – 1.42%)
Fuji Media Holdings
204,600
2,488
1.40
Japan Airlines
122,400
3,163
1.77
5,651
3.17
113,503
3,217
1.80
6,424
6,668
3.74
9,885
5.54
6,039
3.39
6,039
3.39
4,557
2.56
4,557
2.56
120,679
2,802
1.57
BNP Paribas
53,701
2,912
1.63
Cie de Saint-Gobain
49,228
1,958
1.10
Coface
366,575
2,031
1.14
Sanofi
36,002
2,450
1.37
12,153
6.81
South Korea 5.54%
(15.7.16 – 4.03%)
Kia Motors
Samsung Electronics Preference
Europe
Belgium 3.39%
(15.7.16 – 4.37%)
Ageas
177,237
Finland 2.56%
(15.7.16 – 2.32%)
Fortum
349,113
France 6.81%
(15.7.16 – 5.02%)
Alstom
10
Schroder Global Equity Income Fund
Portfolio Statement (continued)
Holding at Market Value
15.1.17
£000’s
% of net
assets
Germany 0.19%
(15.7.16 – 3.65%)
Daimler
5,378
335
0.19
335
0.19
7,157
4.01
7,157
4.01
1,831
1.03
1,831
1.03
2,456,661
5,653
3.17
GlaxoSmithKline
114,260
1,811
1.02
HSBC Holdings
947,775
6,423
3.60
1,464,091
3,640
2.04
590,437
4,821
2.70
3,169,830
6,528
3.66
28,876
16.19
Italy 4.01%
(15.7.16 – 2.09%)
Eni
524,168
Netherlands 0.00%
(15.7.16 – 1.68%)
Norway 1.03%
(15.7.16 – 1.50%)
DNB
140,774
Spain 0.00%
(15.7.16 – 2.87%)
United Kingdom 16.19%
(15.7.16 – 15.76%)
Centrica
Legal & General Group
Pearson
Tesco
Middle East
United Arab Emirates 2.38%
(15.7.16 – 2.11%)
Aldar Properties
7,096,091
4,252
2.38
4,252
2.38
11
Schroder Global Equity Income Fund
Portfolio Statement (continued)
Holding at Market Value
15.1.17
£000’s
% of net
assets
North America
Canada 1.07%
(15.7.16 – 2.42%)
Fairfax India Holdings
202,406
1,912
1.07
1,912
1.07
United States 43.15%
(15.7.16 – 40.80%)
American International Group
122,492
6,698
3.75
Apollo Education Group
312,025
2,544
1.42
BGC Partners
483,456
4,319
2.42
Cisco Systems
335,792
8,306
4.66
Gap
175,007
3,426
1.92
8,575
3,684
2.06
Graham Holdings
Harley-Davidson
19,177
923
0.52
HollyFrontier
115,090
2,848
1.60
Intel
226,110
6,824
3.82
International Business Machines
25,677
3,531
1.98
JPMorgan Chase
56,736
4,032
2.26
Kohl’s
49,127
1,671
0.94
Kulicke & Soffa Industries
356,492
4,991
2.80
Leucadia National
138,917
2,660
1.49
Michael Kors Holdings
49,385
1,728
0.97
Microsoft
21,396
1,100
0.62
Staples
827,018
6,241
3.50
Symantec
146,609
3,136
1.76
Time
Vishay Intertechnology
Wells Fargo
92,736
1,447
0.81
233,915
3,208
1.80
80,520
3,653
2.05
76,970
43.15
2,575
1.44
2,575
1.44
522
0.29
South America
Brazil 1.44%
(15.7.16 – 1.26%)
AES Tiete Energia
678,444
US Dollar Denominated Derivatives 0.26%
(15.7.16 – 0.78%)
Forward to buy US$19,897,439
for £15,791,000
12
US$19,897,439
Schroder Global Equity Income Fund
Portfolio Statement (continued)
Holding at Market Value
15.1.17
£000’s
% of net
assets
US Dollar Denominated Derivatives (continued)
Forward to buy US$8,285,110
for €7,825,000
US$8,285,110
Portfolio of investments 1
Net other assets
Net assets attributable to unitholders
(52)
(0.03)
470
0.26
173,308
97.16
5,068
2.84
178,376
100.00
Unless otherwise stated the above securities are ordinary shares or common
stock and admitted to official stock exchange listings.
1 Including derivative liabilities.
13
Schroder Global Equity Income Fund
Summary of Portfolio Transactions
Largest purchases
Largest sales
14
For the six months ended 15 January 2017
Cost
£000’s
Eni
3,441
Kia Motors
3,071
Japan Airlines
2,869
HollyFrontier
2,597
Harley-Davidson
2,481
Coface
1,803
Cisco Systems
1,791
Kohl’s
1,546
Wells Fargo
1,442
American International Group
1,326
For the six months ended 15 January 2017
Proceeds
£000’s
Endesa
4,575
Microsoft
4,552
JPMorgan Chase
3,966
Deutsche Telekom
3,960
Ageas
3,161
Wolters Kluwer
2,539
Harley-Davidson
2,133
Samsung Electronics Preference
1,947
Pfizer
1,835
DNB
1,796
Schroder Global Equity Income Fund
Statement of the Manager’s Responsibilities
The Financial Conduct Authority’s Collective Investment Schemes sourcebook
(COLL) requires the Manager to prepare accounts for each annual and half yearly
accounting period, in accordance with United Kingdom Generally Accepted
Accounting Practice, which give a true and fair view of the financial position of
the fund and of its net revenue and the net capital gains on the property of the
fund for the period. In preparing the accounts the Manager is required to:
– select suitable accounting policies and then apply them consistently;
– comply with the disclosure requirements of the Statement of Recommended
Practice (SORP) for UK Authorised Funds issued by the Investment
Management Association (IMA (now the Investment Association (IA))) in
May 2014;
– follow generally accepted accounting principles and applicable accounting
standards;
– prepare the accounts on the basis that the fund will continue in operation
unless it is inappropriate to do so;
– keep proper accounting records which enable it to demonstrate that the
accounts as prepared comply with the above requirements;
– make judgements and estimates that are prudent and reasonable.
The Manager is responsible for the management of the fund in accordance
with its Trust Deed, the Prospectus and the COLL and for taking reasonable
steps for the prevention and detection of fraud, error and non-compliance
with law or regulations.
The Manager’s report and accounts for the period ended 15 January 2017 were
signed on 24 February 2017 on behalf of the Manager by:
J.A. Walker-Hazell
Directors
J.M. Cardew
15
Schroder Global Equity Income Fund
Statement of Total Return (unaudited)
For the six months ended 15 January 2017
15.1.17
£000’s
15.1.16
£000’s
£000’s
£000’s
Income
Net capital gains/(losses)
Revenue
Expenses
Net revenue before taxation
Taxation
30,855
(12,207)
2,041
1,562
(840)
(764)
1,201
798
(329)
(61)
Net revenue after taxation
Total return before
distributions
Distributions
Change in net assets
attributable to unitholders
from investment activities
872
737
31,727
(11,470)
(1,707)
(1,500)
30,020
(12,970)
Statement of Change in Net Assets
Attributable to Unitholders (unaudited)
For the six months ended 15 January 2017
15.1.17
£000’s
Opening net assets
attributable to unitholders
15.1.16
£000’s
£000’s
148,9961
£000’s
124,331
Amounts receivable
on issue of units
14,418
15,291
Amounts payable on
cancellation of units
(15,965)
(5,729)
(1,547)
9,562
Change in net assets
attributable to unitholders
from investment activities
30,020
(12,970)
Retained distributions on
Accumulation units
907
Closing net assets
attributable to unitholders
178,376
956
121,8791
1 The Opening net assets attributable to unitholders for the current period do
not equal the Closing net assets attributable to unitholders for the comparative
period as they are not consecutive periods.
16
Schroder Global Equity Income Fund
Balance Sheet (unaudited)
As at 15 January 2017
15.1.17
15.7.16
£000’s
£000’s
173,360
145,152
Debtors
2,027
1,422
Cash and bank balances
6,083
4,723
181,470
151,297
(52)
0
(843)
(1,438)
(2,199)
(863)
(3,094)
(2,301)
178,376
148,996
Assets
Investments
Current assets
Total assets
Liabilities
Investment liabilities
Creditors
Distribution payable
Other creditors
Total liabilities
Net assets attributable
to unitholders
17
Schroder Global Equity Income Fund
Notes to the Accounts (unaudited)
Basis of preparation
The accounts have been prepared under the historical cost basis, as
modified by the revaluation of investments, and in accordance with
the SORP for UK Authorised Funds issued by the IMA in May 2014 and
in accordance with United Kingdom Generally Accepted Accounting
Practice, including Financial Reporting Standard 102 (The Financial
Reporting Standard Applicable in the UK and Republic of Ireland
(FRS 102)).
Accounting policies
The accounting policies applied are consistent with those of the annual accounts
for the year ended 15 July 2016 and are described in those annual accounts.
18
Schroder Global Equity Income Fund
Distribution Table (unaudited)
Interim distribution
for the six
months ended
15 January 2017
Group 1 Units purchased prior to 16 July 2016
Group 2 Units purchased on or after 16 July 2016
Net
revenue
2017
p per unit
Equalisation
2017
p per unit
Distribution
payable
15.3.17
p per unit
Distribution
paid
15.3.16
p per unit
Group 1
0.6777
–
0.6777
0.6126
Group 2
0.2326
0.4451
0.6777
0.6126
Group 1
0.9594
–
0.9594
0.8422
Group 2
0.3224
0.6370
0.9594
0.8422
Group 1
0.7531
–
0.7531
0.6787
Group 2
0.2056
0.5475
0.7531
0.6787
A Income units
A Accumulation units
L Income units
L Accumulation units
Group 1
0.8217
–
0.8217
0.7173
Group 2
0.2056
0.6161
0.8217
0.7173
Group 1
0.9272
–
0.9272
0.8367
Group 2
0.2598
0.6674
0.9272
0.8367
Group 1
1.0793
–
1.0793
0.9442
Group 2
0.4376
0.6417
1.0793
0.9442
Z Income units
Z Accumulation units
Corporate
unitholders
Corporate unitholders receive the dividend distribution payment as detailed below:
Equalisation
Equalisation applies to units purchased during the distribution period (Group 2
units). It is the average amount of revenue included in the purchase price of
Group 2 units and is refunded to the holders of these units as a return of capital.
100.00%
of the total distribution is received as franked investment income.
Being capital it is not liable to income tax but must be deducted from the cost of
units for capital gains tax purposes.
19
Schroder Global Equity Income Fund
General Information
Manager
Schroder Unit Trusts Limited
31 Gresham Street
London EC2V 7QA
Authorised and regulated by
the Financial Conduct Authority
Registrar1
International Financial Data Services Limited
IFDS House
St Nicholas Lane
Basildon
Essex SS15 5FS
Investment Adviser
Schroder Investment Management Limited
31 Gresham Street
London EC2V 7QA
Authorised and regulated by
the Financial Conduct Authority
Administration Details
Schroders
FREEPOST
RLTZ-CHSY-HBUT
PO Box 1102
Chelmsford
Essex CM99 2XX
Investor Services
0800 718 777
[email protected]
Dealing 0800 718 788
Fax 0870 043 4080
Trustee
J.P. Morgan Europe Limited
Chaseside
Bournemouth BH7 7DA
Authorised by the Prudential
Regulation Authority and regulated
by the Financial Conduct Authority
and Prudential Regulation Authority
Independent Auditors
PricewaterhouseCoopers LLP
Atria One
144 Morrison Street
Edinburgh EH3 8EX
1 The Manager has delegated the function of Registrar to International Financial Data Services Limited.
Authorisation
The fund is an authorised unit trust and is constituted pursuant to the COLL
and is structured as a trust. The fund is a UCITS scheme for the purpose of the
categorisation of the COLL.
Other information
The Prospectus, the Key Investor Information Document and details of
investment charges and costs are available on request or can be downloaded
from our website www.schroders.co.uk.
20
For further literature please contact Schroder Investor Services
on 0800 718 777 or at [email protected], or visit
our website at www.schroders.co.uk.
Issued in March 2017 by Schroder Unit Trusts Limited, 31 Gresham Street, London EC2V 7QA.
Registered No: 04191730 England. Authorised and regulated by the Financial Conduct Authority. w35641