Just a quick note to let you know that the Compound Income Scores (CIS) have been updated today as normal. Talking of Scores we had a 9 Q3 IMS to the end of September from Schroders (SDR) yesterday a stock which features in the Compound Income Scores Portfolio and it currently has a CIS of 84.
These looked pretty good with the Profit before tax and exceptional items up 12 per cent. to £453.2 million (2014: £404.4 million) which as far as I can tell seems to roughly in line with or slightly ahead of full year forecasts. Encouragingly they also saw a 5% rise in Assets under management to £294.8 billion (30 September 2014: £276.2 billion) which was helped by Net inflows £8.3 billion (2014: £7.0 billion). While Michael Dobson the Chief Executive said: "These results reflect the resilience of our diversified business at a time of heightened market volatility."
The voting shares at 3000p currently trade on a fairish looking rating of around 16x with a 3% or so yield. For private investors it is worth bearing in mind, if you are not aware of it, that there area also Non Voting (SDRC) shares available which trade at around 2300p and are therefore trading at a discount to the ordinaries of around 23%. However, since private investors are largely disenfranchised by the nominee system and have holdings which are too small to have any influence, then these would be a good way to get exposure to this one if that is something you wanted to do. By doing this you are getting the same economic exposure and you get the same dividend so the rating is then a much more attractive 12 to 13x with a 3.7% yield.