NAV at 15 April

19 April 2016

Net Asset Value

The Corporation publishes its Net Asset Value (‘NAV’) each Monday 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 IFS businesses on 15 April  2016 was 538.14 pence per share (ex income) and 541.53 pence per share (cum income), which excludes the proposed 2015 final dividend of 11.00p.  With the Corporation’s long term debt stated at fair value, the NAV was 524.28 pence per share (ex income) and 527.67 pence per share (cum income).  The mid-market price at the close of business on 15 April 2016 was 480.00 pence per share. The final dividend will be paid, subject to shareholder approval, on 21 April 2016 to holders on the register at the record date of 18 March 2016.
  • 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 March 2016 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 March 2016

Region % of Portfolio
UK 68
Europe 6
North America 10
Japan 3
Other Pacific 6
Other 2
Cash and Fixed Interest 5
Total 100

Top 10 Holdings at 31 March 2016

Rank Name of Holding % of Portfolio (excl. cash)
1 Royal Dutch Shell
2 Henderson Japan Capital Growth
3 Henderson Asia Pacific Capital Growth
4 Senior
6 BP
7 Baillie Gifford Pacific
8 Stewart Investors Pacific
9 Hill & Smith
10 Smith (DS)
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