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    Law Debenture Corp - Net Asset Value(s)

    Picture of CNH Industrial NV logoCNH Industrial NV
    01/07/2021 15:52
    RNS Number : 9120D

Law Debenture Corp PLC

01 July 2021

 

The Law Debenture Corporation p.l.c.

Net Asset Value as at 30 June 2021

The Law Debenture Corporation p.l.c. announces that its Net Asset Value ("NAV") with borrowings at par and including the fair value of IPS business1 on 30 June 2021 was 784.11 pence per share (cum income) which includes the proposed 2021 first interim dividend of 6.875 pence per share as the shares went ex-dividend on 03 June 2021. With the Corporation's long term debt stated at fair value, the NAV was 750.07 pence per share (cum income). The mid-market price at the close of business on 30 June 2021 was 750.00 pence per share. The first interim dividend will be paid on 07 July 2021 to shareholders on the register at the record date of 04 June 2021.


    Net Asset ValueExcluding Income (pence)Including Income (pence)
    NAV with debt at par776.57784.11
    NAV with debt at fair value742.53750.07
    

                

Performance


    YTD
    %    		1 year
    %    		3 years
    %    		5 years
    %    		10 years
    %
    NAV total return (with debt at par)214.839.325.472.6163.0
    NAV total return (with debt at fair value)217.343.524.373.9154.3
    FTSE Actuaries All-Share Index Total Return311.121.56.336.985.5
    Share price total return310.950.042.685.5184.0
    Change in Retail Price Index42.23.37.615.228.4
    

                

1 The fair value of the IPS business has been calculated as at 31 December 2020 and was published as part of the year end results announcement on 26 February 2021.

2 NAV is calculated in accordance with the Association of Investment Companies (AIC) methodology, based on performance data held by Law Debenture including fair value of IPS business and long-term borrowings. NAV is shown with debt measured at par and with debt measured at fair value.

3 Source: Refinitiv.

4 Source: Bloomberg, subject to subject to latest published RPI; May 2021.

                

Geographical Split of investment portfolio


    Region% of portfolio
    30 June 2021    		% of portfolio
    31 December 2020    		% of portfolio
    31 December 2019
    UK82.082.180.7
    Europe9.510.17.8
    North America6.75.48.3
    Japan1.11.11.1
    Other0.00.41.2
    Other Pacific0.70.90.9
    TOTAL100100100
    

                

Full Portfolio Listing

Law Debenture will now be publishing details of its full investment portfolio monthly. As at 30 June 2021 the portfolio comprised as follows:


    Holding NameLocationSectorIndustry£000%
    GlaxoSmithKlineUKHealth CarePharmaceuticals & biotechnology23,7752.52
    Rio TintoUKBasic MaterialsMining22,3092.37
    BarclaysUKFinancialsBanks18,4811.96
    HSBCUKFinancialsBanks18,0951.92
    BPUKOil & GasOil & gas producers17,9551.91
    Royal Dutch ShellUKOil & GasOil & gas producers17,4881.86
    Royal MailUKIndustrialsIndustrial transportation16,9861.80
    Accsys TechnologiesUKIndustrialsConstruction & materials16,3051.72
    Lloyds Banking GroupUKFinancialsBanks14,0071.48
    Ceres PowerUKOil & GasOil equipment services & distribution13,8861.47
    AvivaUKFinancialsLife insurance/assurance13,7401.45
    Morgan Advanced MaterialsUKIndustrialsElectronic & electrical equipment13,5911.44
    Herald Investment TrustUKFinancialsEquity investment instruments13,0801.38
    National GridUKUtilitiesGas, water & multiutilities12,9761.37
    Anglo AmericanUKBasic MaterialsMining12,9261.37
    SeniorUKIndustrialsAerospace & defence12,9251.37
    Prudential CorpUKFinancialsLife insurance/assurance12,8241.36
    NatWestUKFinancialsBanks12,6941.34
    Severn TrentUKUtilitiesGas, water & multiutilities12,5051.32
    BT GroupUKTelecommunicationsFixed Line Telecommunications12,1221.28
    DunelmUKConsumer ServicesGeneral retailers11,7781.25
    Smith (DS)UKIndustrialsGeneral industrials11,7651.24
    BHPUKBasic MaterialsMining11,7151.24
    RelxUKConsumer ServicesMedia11,5111.22
    M & GUKFinancialsFinancial services11,4401.21
    Direct Line InsuranceUKFinancialsNonlife insurance10,6881.13
    KierUKIndustrialsConstruction & materials10,6441.13
    VodafoneUKTelecommunicationsMobile telecommunications10,6171.12
    LindeGermanyBasic MaterialsChemicals10,4621.11
    Toyota Motor CorporationJapanConsumer GoodsAutomobiles & parts10,4271.10
    IP GroupUKFinancialsFinancial services10,3271.09
    Applied MaterialsUSATechnologyTechnology hardware & equipment10,2961.09
    Land SecuritiesUKFinancialsReal estate investment trusts10,2881.09
    AFC EnergyUKOil & GasAlternative Energy10,1601.07
    Johnson Service GroupUKIndustrialsSupport services9,8991.05
    Hipgnosis Songs FundUKFinancialsEquity investment instruments9,8811.05
    TescoUKConsumer GoodsFood & Drug Retailers9,5911.01
    BAE SystemsUKIndustrialsAerospace & defence9,3960.99
    ITM PowerUKOil & GasOil equipment services & distribution9,1000.96
    SchlumbergerUSAOil & GasOil equipment services & distribution9,0480.96
    MondiUKBasic MaterialsForestry & paper9,0300.96
    ElementisUKBasic MaterialsChemicals8,8300.93
    Standard CharteredUKFinancialsBanks8,6930.92
    Balfour BeattyUKIndustrialsConstruction & materials8,4750.90
    CrodaUKBasic MaterialsChemicals8,4690.90
    Hill & SmithUKIndustrialsIndustrial engineering8,4500.89
    Rolls RoyceUKIndustrialsAerospace & defence8,3590.88
    CumminsUSAIndustrialsIndustrial engineering8,2860.88
    HammersonUKFinancialsReal estate investment trusts8,2070.87
    Standard Life AberdeenUKFinancialsFinancial services8,1470.86
    General MotorsUSAConsumer GoodsAutomobiles & parts8,1300.86
    Urban Logistics REITUKFinancialsReal estate investment trusts8,0830.85
    Watkin JonesUKConsumer GoodsHousehold goods & home construction7,9550.84
    CaterpillarUSAIndustrialsIndustrial engineering7,8690.83
    HiscoxUKFinancialsNonlife insurance7,5220.80
    IMIUKIndustrialsIndustrial engineering7,5210.80
    Marks & SpencerUKConsumer ServicesGeneral retailers7,4690.79
    Smith & NephewUKHealth CareHealth care equipment & services7,3440.78
    Scottish Oriental Small CoPacificFinancialsEquity investment instruments6,9250.73
    SpectrisUKIndustrialsElectronic & electrical equipment6,8740.73
    TT ElectronicsUKIndustrialsElectronic & electrical equipment6,8470.72
    SigmaRocUKIndustrialsConstruction & materials6,7940.72
    HalfordsUKConsumer ServicesGeneral retailers6,6840.71
    Irish Continental GroupIrelandConsumer ServicesTravel & leisure6,6170.70
    Gibson EnergyCanadaOil & GasOil & gas producers6,4630.68
    UnileverUKConsumer GoodsPersonal goods6,3460.67
    Convatec GroupUKHealth CareHealth care equipment & services6,2560.66
    International Personal FinanceUKFinancialsFinancial services6,2030.66
    MarshallsUKIndustrialsConstruction & materials6,1700.65
    Bristol-Myers SquibbUSAHealth CarePharmaceuticals & biotechnology6,0380.64
    International Consolidated AirlinesUKConsumer ServicesTravel & leisure5,9870.63
    SanofiFranceHealth CarePharmaceuticals & biotechnology5,6810.60
    EuromoneyUKConsumer ServicesMedia5,6260.60
    ChesnaraUKFinancialsLife insurance/assurance5,5300.58
    CentricaUKUtilitiesGas, water & multiutilities5,1440.54
    Provident FinancialUKFinancialsFinancial services5,1230.54
    IbstockUKIndustrialsConstruction & materials5,1140.54
    Morses ClubUKFinancialsFinancial services5,0690.54
    Oxford Sciences InnovationUKULMFinancialsFinancial services4,8470.51
    Merck & CoUSAHealth CarePharmaceuticals & biotechnology4,6710.49
    Redde NorthgateUKIndustrialsSupport services4,6510.49
    GlencoreSwitzerlandBasic MaterialsMining4,6410.49
    MeggittUKIndustrialsAerospace & defence4,6120.49
    Koninklijke DSMNetherlandsBasic MaterialsChemicals4,5850.48
    Jubilee Metals GroupUKBasic MaterialsMining4,5500.48
    SSEUKUtilitiesElectricity4,5000.48
    Studio Retail GroupUKConsumer ServicesGeneral retailers4,3570.46
    BabcockUKIndustrialsAerospace & defence4,3390.46
    Cellnex TelecomSpainTelecommunicationsMobile telecommunications4,0810.43
    BawagAustriaFinancialsBanks3,8820.41
    Indus GasUKOil & GasOil & gas producers3,8780.41
    Weir GroupUKIndustrialsIndustrial engineering3,7010.39
    NestleSwitzerlandConsumer GoodsFood producers3,6680.39
    BokuUKIndustrialsSupport services3,6400.39
    Munchener RueckverGermanyFinancialsNonlife insurance3,5420.37
    RicardoUKIndustrialsSupport services3,4100.36
    Phoenix Group HoldingsUKFinancialsLife insurance/assurance3,3750.36
    Grit Real Estate Income GroupGuernseyFinancialsReal estate investment trusts3,3220.35
    RocheSwitzerlandHealth CarePharmaceuticals & biotechnology3,3090.35
    MarstonsUKConsumer ServicesTravel & leisure3,2360.34
    VH Global Sustainable Energy OpportunitiesUKOtherSustainable Energy2,9910.32
    iEnergizerGuernseyIndustrialsSupport services2,9600.31
    Sig CombiblocSwitzerlandIndustrialsGeneral industrials2,8610.30
    Novo NordiskDenmarkHealth CarePharmaceuticals & biotechnology2,8530.30
    AugeanUKIndustrialsSupport services2,8490.30
    UniCreditItalyFinancialsBanks2,8360.30
    StellantisNetherlandsConsumer GoodsAutomobiles & parts2,7950.30
    AmundiFranceFinancialsFinancial services2,7500.29
    WorldlineFranceIndustrialsSupport services2,7010.29
    ASMLNetherlandsTechnologyTechnology hardware & equipment2,7010.29
    Bacanora LithiumUKBasic MaterialsMining2,6740.28
    Vertu MotorsUKConsumer ServicesGeneral retailers2,5840.27
    Plant Health CareUSABasic MaterialsChemicals2,4770.26
    Mirriad AdvertisingUKConsumer ServicesMedia2,4270.26
    ProsusNetherlandsTechnologySoftware & computer services2,3160.24
    CNH IndustrialUKIndustrialsIndustrial engineering2,0830.22
    Blue Prism GroupUKTechnologySoftware & computer services2,0250.21
    NexiItalyIndustrialsSupport services1,9740.21
    IlikaUKOil & GasAlternative Energy1,9370.20
    Allied MindsUKFinancialsFinancial services1,9240.20
    MonclerItalyConsumer GoodsPersonal goods1,9060.20
    FaureciaFranceConsumer GoodsAutomobiles & parts1,8050.19
    GrifolsSpainHealth CarePharmaceuticals & biotechnology1,4920.16
    Longboat EnergyUKOil & GasOil & gas producers1,4000.15
    RenoldUKIndustrialsIndustrial engineering1,2910.14
    Surface TransformsUKConsumer GoodsAutomobiles & parts1,2400.13
    Tullow OilUKOil & GasOil & gas producers1,1890.13
    Telecom Italia RSPItalyTelecommunicationsMobile telecommunications1,1360.12
    Koninklijke KPNNetherlandsTelecommunicationsFixed Line Telecommunications1,0640.11
    VelocysUKOil & GasOil equipment services & distribution8820.09
    Logistics Development GroupUKIndustrialsIndustrial transportation8800.09
    SIMEC Atlantis EnergyUKUtilitiesElectricity8670.09
    Harbour EnergyUKOil & GasOil & gas producers7070.07
    Allfunds GroupUKOtherOther6820.07
    CarcloUKBasic MaterialsChemicals6440.07
    Danone SAFranceConsumer GoodsFood producers6130.06
    Embracer GroupSwedenConsumer GoodsLeisure Goods6040.06
    Brockhaus Capital ManagementGermanyFinancialsFinancial services5370.06
    AUTO1 GroupGermanyOtherFinancial Technology4530.05
    UnlistedUKFinancialsFinancial services2130.02
    Providence ResourcesUKOil & GasOil & gas producers1160.01
    Thungela ResourcesOtherOtherSustainable Energy890.01
    NOW IncUSAOil & GasOil equipment services & distribution860.01
    

                

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.

Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Alison Skerritt-Black, Company Secretariat, 020 7606 5451).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

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