Schroder UK Mid Cap (ticker: SCP) was founded in 1983. Schroders won the mandate to run the trust in 2003, taking over from Legg Mason. Andy Brough has been a co-manager for the last twenty years, initially alongside Rosemary Banyard. When Banyard left Schroders in 2016, Jean Roche was appointed as co-manager and she has since been promoted to lead manager. For the first several years with Schroders, SCP was invested in both small- and mid-caps before deciding in 2011 to concentrate on the latter to differentiate its strategy. Its portfolio now consists of around 50 FTSE 250 stocks with a rel...
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UPDATE (Sep 2026): MRC returned 5% in the year to January 2024 versus 2% for its benchmark, 14% to Jan 2025 versus 12%, and 12% to Jan 2026 versus 16%. The trust has bought back around 20% of its shares over the last three years, narrowing its discount from 15% to 10%.
Mercantile (ticker: MRC) traces its origins back to 1884 and it has been focused on UK medium-sized and smaller companies for the last three decades. Guy Anderson of JPMorgan has looked after the portfolio since 2012, initially as a co-manager and then as the lead manager from 2019 onwards. Mercantile is a very large trust with...
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