Schroders UK Mid Cap delivers double-digit losses as discount widens

Share price loss of 18.2%

The Schroders UK Mid Cap fund share price has fallen 18.2% as the trust’s discount widened from 7.8% to 15%.

According to the company's half-year report for the six months to March 2022, the fund's net asset value total return fell to 11.4%, underperforming its FTSE 250 ex Investment Trusts benchmark, which fell by 9%. "Interestingly, trading updates for the companies within the portfolio were generally quite robust and therefore the fall in the trust's share price in large part reflected a deterioration in general sentiment about the domestic UK economy," said chair Robert Talbut. A total of 485,000 shares were repurchased by the company post-period end, signalling the company's belief that...