Schroder US Mid Cap Class Z Inc
Report And Accounts
Simplified Prospectus / KIID
Performance
Discrete performance - to last month end
| 30/11/20 to 30/11/21 |
30/11/21 to 30/11/22 |
30/11/22 to 30/11/23 |
30/11/23 to 30/11/24 |
30/11/24 to 30/11/25 |
|
|---|---|---|---|---|---|
| Fund | 21.9% | 2.8% | -3.3% | 28.2% | -6.5% |
| Sector | 25.2% | -3.7% | 6.1% | 30.7% | 5.7% |
| Rank | 159/207 | 50/225 | 210/237 | 161/239 | 244/250 |
| Quartile | 4 | 1 | 4 | 3 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/11/25 |
5 Years to 30/11/25 |
10 Years to 30/11/25 |
||
| Fund | 5.0% | 7.7% | 9.7% | |
| Sector | 13.6% | 12.1% | 13.5% | |
| Rank | 224/237 | 181/206 | 128/140 | |
| Quartile | 4 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| VIAVI SOLUTIONS | 2.90 |
| ICU MEDICAL | 2.49 |
| RENTOKIL INITIAL | 2.24 |
| TWILIO INC | 2.20 |
| CIENA CORPORATION | 2.19 |
| LUMENTUM HOLDINGS | 2.19 |
| ARAMARK | 2.17 |
| BWX TECHNOLOGIES | 2.04 |
| HEXCEL CORPORATION | 1.99 |
| MACOM TECH SOLUTIONS HLDGS INC | 1.82 |
| Total | 22.22 |
Fund Aims
The Fund's investment objective is to provide capital growth and income primarily through investment in equity securities of medium-sized US companies. Investment will be in directly held transferable securities. The Fund may also invest in collective investment schemes, warrants and money market instruments.
Fund Manager
Bob Kaynor is Co-Portfolio Manager and Research Director US Small and Smid Cap Equities at Schroders, based in New York. He joined Schroders in 2013
Bob was the Chief Investment Officer and Managing Member at Ballast Capital Group from 2010 to 2013
He was previously a Managing Director/Portfolio Manager at Ramius Capital Group from 2003 to 2010
He was previously a Partner/Analyst at Barbary Coast Capital Management from 2000 to 2003
He was previously a Analyst/Assistant Portfolio Manager at RCM Capital Management from 1994 to 2000
BSc in Economics with Financial Applications from Southern Methodist University
CFA Charterholder
Fund Overview
| Mid (05/12/2025) | 212.70p |
| Historic yield | 0.07% |
| Fund size (31/10/2025) | £683.82m |
| Number of holdings | 82 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
| Launch date | 10/02/2012 |
Asset Allocation
| International Equities | 92.49% | |
| UK Equities | 3.27% | |
| Cash and Equivalents | 2.30% | |
| Property | 1.94% |
Commentary
Not Applicable
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Equities | 92.49% | |
| UK Equities | 3.27% | |
| Cash and Equivalents | 2.30% | |
| Property | 1.94% |
Equity Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Industrials | 28.28% | - | - | - | |
| Industrial Goods & Services | - | 23.50% | - | - | |
| Electronic & Electrical Equipment | - | - | 7.25% | - | |
| Electronic Equipment: Control & Filter | - | - | - | 4.87% | |
| Electrical Components | - | - | - | 2.38% | |
| Industrial Support Services | - | - | 4.08% | - | |
| Professional Business Support Services | - | - | - | 3.20% | |
| Business Training & Employment Agencies | - | - | - | 0.88% | |
| Aerospace & Defence | - | - | 3.62% | - | |
| Defense | - | - | - | 2.04% | |
| Aerospace | - | - | - | 1.58% | |
| Industrial Engineering | - | - | 2.88% | - | |
| Machinery: Industrial | - | - | - | 1.38% | |
| Machinery: Engines | - | - | - | 0.83% | |
| Machinery: Tools | - | - | - | 0.67% | |
| General Industrials | - | - | 2.86% | - | |
| Diversified Industrials | - | - | - | 1.29% | |
| Paints & Coatings | - | - | - | 0.79% | |
| Containers & Packaging | - | - | - | 0.78% | |
| Industrial Transportation | - | - | 2.81% | - | |
| Marine Transportation | - | - | - | 1.31% | |
| Trucking | - | - | - | 0.93% | |
| Commercial Vehicle-Equipment Leasing | - | - | - | 0.57% | |
| Construction & Materials | - | 4.78% | - | - | |
| Construction & Materials | - | - | 4.78% | - | |
| Building Materials: Other | - | - | - | 1.93% | |
| Building, Roofing/Wallboard & Plumbing | - | - | - | 1.41% | |
| Engineering & Contracting Services | - | - | - | 0.80% | |
| Building: Climate Control | - | - | - | 0.65% | |
| Technology | 14.61% | - | - | - | |
| Technology | - | 14.61% | - | - | |
| Software & Computer Services | - | - | 9.30% | - | |
| Software | - | - | - | 4.29% | |
| Consumer Digital Services | - | - | - | 2.85% | |
| Computer Services | - | - | - | 2.15% | |
| Technology Hardware & Equipment | - | - | 5.31% | - | |
| Semiconductors | - | - | - | 3.09% | |
| Production Technology Equipment | - | - | - | 2.22% | |
| Financials | 12.99% | - | - | - | |
| Banks | - | 5.37% | - | - | |
| Banks | - | - | 5.37% | - | |
| Banks | - | - | - | 5.37% | |
| Financial Services | - | 4.01% | - | - | |
| Investment Banking & Brokerage Services | - | - | 3.18% | - | |
| Asset Managers & Custodians | - | - | - | 2.01% | |
| Diversified Financial Services | - | - | - | 1.17% | |
| Finance & Credit Services | - | - | 0.83% | - | |
| Financial Data & Systems | - | - | - | 0.83% | |
| Insurance | - | 3.61% | - | - | |
| Non-life Insurance | - | - | 3.61% | - | |
| Property & Casualty Insurance | - | - | - | 2.55% | |
| Reinsurance | - | - | - | 1.06% | |
| Health Care | 10.06% | - | - | - | |
| Health Care | - | 10.06% | - | - | |
| Medical Equipment & Services | - | - | 6.73% | - | |
| Medical Equipment | - | - | - | 3.21% | |
| Medical Supplies | - | - | - | 2.49% | |
| Medical Services | - | - | - | 1.03% | |
| Health Care Providers | - | - | 1.78% | - | |
| Health Care Facilities | - | - | - | 0.93% | |
| Health Care Management Services | - | - | - | 0.85% | |
| Pharmaceuticals & Biotechnology | - | - | 1.54% | - | |
| Biotechnology | - | - | - | 1.54% | |
| Consumer Discretionary | 8.82% | - | - | - | |
| Travel & Leisure | - | 4.34% | - | - | |
| Travel & Leisure | - | - | 4.34% | - | |
| Restaurants & Bars | - | - | - | 2.17% | |
| Casinos & Gambling | - | - | - | 2.17% | |
| Retail | - | 2.35% | - | - | |
| Retailers | - | - | 2.35% | - | |
| Apparel Retailers | - | - | - | 1.28% | |
| Specialty Retailers | - | - | - | 1.06% | |
| Consumer Products & Services | - | 2.13% | - | - | |
| Household Goods & Home Construction | - | - | 1.33% | - | |
| Home Construction | - | - | - | 1.33% | |
| Personal Goods | - | - | 0.80% | - | |
| Cosmetics | - | - | - | 0.80% | |
| Telecommunications | 7.86% | - | - | - | |
| Telecommunications | - | 7.86% | - | - | |
| Telecommunications Equipment | - | - | 7.27% | - | |
| Telecommunications Equipment | - | - | - | 7.27% | |
| Telecommunications Service Providers | - | - | 0.59% | - | |
| Telecommunications Services | - | - | - | 0.59% | |
| Basic Materials | 4.70% | - | - | - | |
| Chemicals | - | 2.72% | - | - | |
| Chemicals | - | - | 2.72% | - | |
| Specialty Chemicals | - | - | - | 2.72% | |
| Basic Resources | - | 1.99% | - | - | |
| Industrial Materials | - | - | 1.99% | - | |
| Diversified Materials | - | - | - | 1.99% | |
| Energy | 4.49% | - | - | - | |
| Energy | - | 4.49% | - | - | |
| Non-Renewable Energy | - | - | 3.85% | - | |
| Oil: Crude Producers | - | - | - | 1.95% | |
| Oil Equipment & Services | - | - | - | 1.90% | |
| Renewable Energy | - | - | 0.64% | - | |
| Renewable Energy Equipment | - | - | - | 0.64% | |
| Real Estate | 3.11% | - | - | - | |
| Real Estate | - | 3.11% | - | - | |
| Real Estate Investment Trusts | - | - | 3.11% | - | |
| Other Specialty REITs | - | - | - | 1.17% | |
| Industrial REITs | - | - | - | 0.99% | |
| Retail REITs | - | - | - | 0.95% | |
| Cash and Equivalents | 2.30% | - | - | - | |
| Utilities | 1.79% | - | - | - | |
| Utilities | - | 1.79% | - | - | |
| Electricity | - | - | 1.09% | - | |
| Conventional Electricity | - | - | - | 1.09% | |
| Gas, Water & Multi-utilities | - | - | 0.70% | - | |
| Gas Distribution | - | - | - | 0.70% | |
| Consumer Staples | 1.00% | - | - | - | |
| Food, Beverage & Tobacco | - | 1.00% | - | - | |
| Food Producers | - | - | 1.00% | - | |
| Food Products | - | - | - | 1.00% | |
Regional Allocation
| North America | 92.49% | |
| UK | 3.27% | |
| Cash and Equivalents | 2.30% | |
| Property | 1.94% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 96.86% | |
| Cash | 3.14% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 92.49% | - | |
United States
|
- | 91.38% | |
Canada
|
- | 1.11% | |
| UK | 3.27% | - | |
United Kingdom
|
- | 3.27% | |
| Cash and Equivalents | 2.30% | - | |
| Property | 1.94% | - | |
Breakdown By Market Cap (%)
| Large |
|
16.67% |
| Medium |
|
68.12% |
| Small |
|
6.28% |
| Non-Classified |
|
6.64% |
| Cash |
|
2.30% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | VIAVI SOLUTIONS | 2.90% | Telecommunications Equipment | United States |
| 2 | ICU MEDICAL | 2.49% | Medical Equipment & Services | United States |
| 3 | RENTOKIL INITIAL | 2.24% | Industrial Support Services | United Kingdom |
| 4 | TWILIO INC | 2.20% | Software & Computer Services | United States |
| 5 | CIENA CORPORATION | 2.19% | Telecommunications Equipment | United States |
| 6 | LUMENTUM HOLDINGS | 2.19% | Telecommunications Equipment | United States |
| 7 | ARAMARK | 2.17% | Travel & Leisure | United States |
| 8 | BWX TECHNOLOGIES | 2.04% | Aerospace & Defence | United States |
| 9 | HEXCEL CORPORATION | 1.99% | Industrial Materials | United States |
| 10 | MACOM TECH SOLUTIONS HLDGS INC | 1.82% | Technology Hardware & Equipment | United States |
Dual Aspect Equity Analysis
| UK Equities | Int'l Equities | UK Bonds | Int'l Bonds | UK Gilts | Property | Other | Cash & Equiv | Total | |
|---|---|---|---|---|---|---|---|---|---|
| Technology | - | 14.61% | - | - | - | - | - | - | 14.61% |
| Telecommunications | - | 7.86% | - | - | - | - | - | - | 7.86% |
| Financials | - | 12.99% | - | - | - | - | - | - | 12.99% |
| Real Estate | - | 1.17% | - | - | - | 1.94% | - | - | 3.11% |
| Consumer Discretionary | - | 8.82% | - | - | - | - | - | - | 8.82% |
| Consumer Staples | - | 1.00% | - | - | - | - | - | - | 1.00% |
| Energy | 1.03% | 3.46% | - | - | - | - | - | - | 4.49% |
| Utilities | - | 1.79% | - | - | - | - | - | - | 1.79% |
| Health Care | - | 10.06% | - | - | - | - | - | - | 10.06% |
| Industrials | 2.24% | 26.04% | - | - | - | - | - | - | 28.28% |
| Basic Materials | - | 4.70% | - | - | - | - | - | - | 4.70% |
| Cash and Equivalents | - | - | - | - | - | - | - | 2.30% | 2.30% |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only.
Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B7M4CS0 |
| Mex Code | - |
| Isin Code | GB00B7M4CS05 |
| Citi Code | 0V2R |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.91% |
Aims and Benchmark
| Aims | The Fund's investment objective is to provide capital growth and income primarily through investment in equity securities of medium-sized US companies. Investment will be in directly held transferable securities. The Fund may also invest in collective investment schemes, warrants and money market instruments. |
| Benchmark | Russell 2500 TR Lagged (Gross Total Return) Index |
| Benchmark Category | - |
| IA Sector | North America |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £0.50 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Annually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 June | 31 July |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | J.P. Morgan Trustee and Depositary Company Limited |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | J.P. Morgan Trustee and Depositary Company Limited |
Group Details
| Group name | Schroder Unit Trusts Limited |
| Group address | 1 London Wall Place, London, EC2Y 5AU United Kingdom |
| Group telephone | 0800 718 777 |
| Dealing telephone | 0800 718 788 |
| investorservices@schroders.com | |
| Homepage | www.schroders.co.uk |
| Fax number | 0870 043 4080 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £100000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 2 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -10.58 |
| Beta | 1.19 |
| Sharpe | 0.09 |
| Standard Deviation | 16.38 |
| Info Ratio | -0.97 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | Yes |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | Yes |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Smaller Companies
The fund invests in smaller companies. Smaller companies shares can be more volatile and less liquid than larger company shares, so smaller companies funds can carry more risk.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Higher Risk
This fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question. If you are not familiar with these you should ask us for a copy of the provider's key features and brochure.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
'Prudential' is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.