Schroder Unit Trusts Limited
31 Gresham Street
London
EC2V 7QA
Investor Services 0800 718 777
www.schroders.co.uk
investorservices@schroders.com
3 November 2014
Dear Shareholder
Proposed fund change: Schroder European Alpha Income Fund
I am writing to you on behalf of Schroder Unit Trusts Limited to inform you of a change to the Schroder
European Alpha Income Fund, a sub-fund of Schroder Investment Fund Company, in which you are
invested.
The Fund’s investment objective and policy will be revised from 2 January 2015 as outlined below:
Current objective and policy
“The Fund aims to provide high income with some long-term capital growth by investing predominantly in
companies incorporated in a member state of the EEA or Switzerland or in companies which derive a
predominant proportion of their revenues or profits from these countries or which are predominantly
operating in them.
Investments will be made primarily in a concentrated portfolio of equities (typically between 30 and 50
holdings) of large or mid-sized companies which pay high dividend yields and which the ACD considers
offer prospects for long-term growth. Investment may also be made in other equity-related transferable
securities issued by these companies, such as preferred shares and convertible securities.
Whilst the Fund will invest primarily in equities it may also invest in fixed interest securities, cash, deposits
and money market instruments.
The Fund may utilise derivatives for efficient portfolio management purposes and for hedging.”
New objective and policy
“The Fund’s investment objective is to provide high income with some long-term capital growth through
investment in equity and equity related securities of European companies.
At least 80% of the Fund will be invested in a concentrated portfolio (typically between 30 and 50
holdings) of large or mid-sized companies listed, incorporated or headquartered in European countries or
companies that derive a significant proportion of their revenues from their European business.
Investment may also be made in other equity related transferable securities issued by these companies,
such as preferred shares and convertible securities.
The Fund may also invest in collective investment schemes, fixed interest securities, warrants, cash,
deposits and money market instruments.”
Registered Office at above address. Registered Number 4191730 England.
Schroder Unit Trusts Limited is an authorised corporate director, an authorised unit trust manager and an ISA plan
manager, and is authorised and regulated by the Financial Conduct Authority.
For your security, telephone conversations may be recorded.
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Reason for the change
The investment objective is being amended to clarify how the Fund is managed. Please note that this
change does not impact your existing holding in the Fund.
This change does not require shareholder approval and you are not required to take any action in respect
of this change.
If you have any questions or concerns about the change, please call your financial adviser. If you do not
have a financial adviser you can find one in your area by visiting www.schroders.co.uk/unbiased or call a
member of our Investor Services Team on 0800 718 777. Please be aware that Schroders does not offer
investment advice.
Yours sincerely
Robin Stoakley
Director
Schroder Unit Trusts Limited