NAV and Portfolio Information

Net Asset Value

The Corporation publishes its Net Asset Value (‘NAV’) each Tuesday and immediately after each month end.

  • The Law Debenture Corporation p.l.c. announces that its Net Asset Value (“NAV”) with borrowings at par and including fair value of IPS businesses* on 8 February 2019 was 648.34 pence per share (ex income) and 663.54 pence per share (cum income). With the Corporation’s long term debt stated at fair value, the NAV was 626.08 pence per share (ex income) and 641.28 pence per share (cum income). The mid-market price at the close of business 8 February 2019 was 592.00 pence per share.

  • In accordance with listing rule 15.6.8, The Law Debenture Corporation p.l.c. announces that it has no investments in other UK listed investment companies that require to be disclosed. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation’s gross assets as at 31 January 2019 are set out below:

Geographical Split and Top Ten Holdings

Immediately following the end of each month, we also publish information about the geographical split and top ten holdings of the portfolio.

The current data is as follows:

Geographical Split at 31 January 2019

Region % of Portfolio
UK 65
Europe 7
North America 8
Japan 1
Other Pacific 4
Other 1
Cash and Fixed Interest 14
Total 100

Top 10 Holdings at 31 January 2019

Rank Name of Holding % of Portfolio (excl. cash)
1 Royal Dutch Shell 4.27
2 GlaxoSmithKline 2.45
3 HSBC 2.43
4 BP 2.40
5 Rio Tinto 2.26
6 Rolls Royce 2.10
7 Prudential 2.00
8 Senior 1.91
9 Stewart Investors Pacific 1.91
10 Relx 1.82

* The IPS fair value is the value that has been applied consistently since the most recent formal valuation at 30 June 2018. The fair value at 31 December 2018 is still being calculated and will be published as part of our annual results.

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