June 2017
All data expressed as at 31 May 2017
www.schroders.co.uk
Schroder Unit Trusts Limited
Global Recovery Fund
Z Accumulation Share
Investment Objective and Policy
Fund Launch Date
30 October 2015
The fund aims to provide capital growth over the mid to long term by investing in equities of companies worldwide
which are considered to be undervalued relative to their long term earnings potential.
Total Fund Size (Million)
GBP 101.9
At least 80% of the fund's assets (excluding cash) will be invested in equities of companies worldwide that have
suffered a set back in either share price or profitability, but where long term prospects are believed to be good.
Recovery investments may be out of favour for many reasons, including weak short-term profitability,
macroeconomic concerns or an under strength balance sheet. These factors can significantly reduce the
attractiveness of companies to short term investors and induce discounts to fair value. Our long term focused
recovery investment approach seeks to exploit these factors. The fund can invest in any sector, industry,
jurisdiction or geographic region but is not managed with regard to any benchmark. Consequently the fund may be
particularly exposed to a specific sector, industry, jurisdiction or region at any time depending on where the fund
identifies opportunities for recovery investments. Derivatives may be used to achieve the investment objective and
to reduce risk or manage the fund more efficiently. The fund may also hold cash.
Share Price End of Month (GBP)
71.09 GBX
Total number of holdings
43
Benchmark
MSCI World - Net Return
Performance Analysis
Fund Manager
K. Murphy, N. Kirrage & A. Lyddon
1
month
3
months
6
months
YTD
1 year
3 years
Fund
3.2
4.3
10.0
5.3
35.1
---
---
42.2
Benchmark
2.3
1.0
9.2
5.5
31.3
---
---
38.6
Performance (%)
Managed fund since
30 October 2015
Discrete Yearly
Performance (%)
Historic Yield
1.18 %
5 years Since Launch
Q1/2016 Q1/2017
Q1/2015 Q1/2016
Q1/2014 Q1/2015
Q1/2013 Q1/2014
Q1/2012 Q1/2013
Fund
33.2
---
---
---
---
Benchmark
31.9
---
---
---
---
Financial Ratios
Performance Since Launch (%)
Fund
Benchmark
1.1
2.4
P/E Ratio
21.8
21.6
40.0
Predicted P/E Ratio
30.0
P/Book Value
15.0
17.7
ROE (%)
5.2
16.4
Dividend Yield (%)
2.4
2.4
3 Year Earnings Growth (%)
0.6
9.1
50.0
20.0
10.0
0.0
-10.0
Oct 2015
Jan 2016
Apr 2016
Jul 2016
Oct 2016
Jan 2017
Apr 2017
Fund
Benchmark
Past performance is not a reliable indicator of future results, prices of shares and the income from them
may fall as well as rise and investors may not get back the amount originally invested.
The fund is not managed with reference to a benchmark but its performance may be measured against one or
more.
Some performance differences between the fund and the benchmark may arise because the fund performance is
calculated at a different valuation point from the benchmark.
Source: Schroders, bid to bid price with net income reinvested, net of the ongoing charges and portfolio costs and,
where applicable, performance fees.
For an explanation of the financial terms included in this factsheet visit www.schroders.com/ukinvestor/glossary
Printed copies are available by contacting the company address overleaf.
http://SIFCO-Global-Recovery-Fund-Z-Acc-FMR-UKEN
Schroder Unit Trusts Limited
Global Recovery Fund
Top 10 Holdings
Holdings Analysis
Sector
% NAV
1. SSSF Sterling Liquidity Plus Fund
Not Classified
5.0
2. Citigroup
Financials
4.0
3. Coface
Financials
3.8
4. Bridgepoint Education
Consumer Discretionary
3.6
5. Barclays
Financials
3.5
6. Technicolor
Consumer Discretionary
3.5
7. Royal Bank of Scotland Group
Financials
3.4
8. Standard Chartered
Financials
3.4
9. American International Group
Financials
3.2
10. HSBC Holdings
Financials
3.0
Total
Overweights
Overweights and underweights data are based on
fund's exposure to holdings grouped by name.
5.0
Coface
3.8
Bridgepoint Education
3.6
Citigroup
3.6
Technicolor
3.5
Asset Allocation (%)
Benchmark
Liquid Assets contain cash,
deposits and money market
instruments with maturities of up to
397 days, which are respectively
not part of the core investment
objective and policy. The
commitment linked to the equity
index futures contracts, if present,
is deducted from cash. Source:
Schroders
(%) Market Cap Split
Consumer Discretionary
Telecommunication services
Information Technology
Materials
Not Classified
Consumer Staples
Industrials
Real Estate
Energy
Health Care
Utilities
Derivatives
Liquid Assets
(%)
Apple
-2.2 <250 Million
Alphabet
-1.6 >=250<500 Million
Microsoft
-1.4 >=0.5<1 Billion
16.5
Amazon.com
-1.1 >=1<3 Billion
24.1
Facebook
-1.0 >=3 Billion
50.8
Sector
Financials
Fund
(%) Underweights
SSSF Sterling Liquidity Plus
Fund
36.5
0.4
8.2
Region
34.4
17.2
25.4
12.5
9.4
3.1
7.3
16.0
7.2
4.9
5.0
0.0
3.2
10.0
2.1
11.4
1.8
3.2
1.4
6.1
0.0
12.3
0.0
3.3
- 0.0
0.0
2.8
0.0
59.2
Europe
24.3
27.4
Americas
Asia
Africa
Oceania
Derivatives
Liquid Assets
62.5
4.6
10.7
3.6
0.0
2.4
2.6
- 0.0
0.0
2.8
0.0
Schroder Unit Trusts Limited
Risk Considerations
Information
Schroder Unit Trusts Limited
31 Gresham Street
London
EC2V 7QA
Investor Services
Telephone: 0800 718 777
E-mail: [email protected]
Global Recovery Fund
China country risk: Changes in China's political, legal, economic or tax policies could cause losses or higher costs
for the fund.
Counterparty risk: The counterparty to a derivative or other contractual agreement or synthetic financial product
could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund.
Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create
losses.
Derivatives risk: A derivative may not perform as expected, and may create losses greater than the cost of the
derivative.
Emerging markets & frontier risk: Emerging markets, and especially frontier markets, generally carry greater
political, legal, counterparty and operational risk.
Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company
news.
Leverage risk: The fund uses derivatives for leverage, which makes it more sensitive to certain market or interest
rate movements and may cause above-average volatility and risk of loss.
Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This
could affect performance and could cause the fund to defer or suspend redemptions of its shares.
Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.
Shanghai-Hong Kong Stock Connect risk: The fund may be investing in China "A" shares via the Shanghai-Hong
Kong Stock Connect which may involve clearing and settlement, regulatory, operational and counterparty risks.
SEDOL
Bloomberg
ISIN
Fund Base Currency
Dealing Frequency
Accumulation
BYRJXL9
SCHGRZA:LN
GB00BYRJXL91
GBP
Daily (12:00 GMT)
Ongoing Charges (latest
available)
0.94 %
Minimum Investment Amount
£1,000,000
Income
BYRJXM0
SCHGRZI:LN
GB00BYRJXM09
Third party data is owned or licensed by the data provider and may not be reproduced or extracted and used for any other purpose without the data provider's consent. Third
party data is provided without any warranties of any kind. The data provider and issuer of the document shall have no liability in connection with the third party data. The
Prospectus and/or www.schroders.com contain additional disclaimers which apply to the third party data.
The fund is an authorised unit trust.
A Key Investor Information Document and Supplementary Information Document are available. These can be requested via our website at www.schroders.co.uk or call one
of our Investor Services Team on 0800 718 777 for a printed version. For investors' security, telephone calls to Schroder Unit Trusts Limited may be recorded. Nothing in this
factsheet should be construed as advice and is therefore not a recommendation to buy or sell shares. The data contained in this document has been sourced by Schroders
and should be independently verified before further publication or use. Issued by Schroder Unit Trusts Limited, 31 Gresham Street, London EC2V 7QA. Registered
No.4191730 England. Authorised and regulated by the Financial Conduct Authority. Schroders has expressed its own views and these may change.
SUTL-Global Recovery Fund-May-2017