REG - Law Debenture Corp - Net Asset Value(s)

Irish ContinentalAnnouncement

23/08/2021 12:40

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 Value


Excluding Income (pence)


Including Income (pence)




NAV with debt at par


776.57


784.11




NAV with debt at fair value


742.53


750.07




                
Performance




 


YTD
%


1 year
%


3 years
%


5 years
%


10 years
%




NAV total return (with debt at par)2


14.8


39.3


25.4


72.6


163.0




NAV total return (with debt at fair value)2


17.3


43.5


24.3


73.9


154.3




FTSE Actuaries All-Share Index Total Return3


11.1


21.5


6.3


36.9


85.5




Share price total return3


10.9


50.0


42.6


85.5


184.0




Change in Retail Price Index4


2.2


3.3


7.6


15.2


28.4 




                
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




UK


82.0


82.1


80.7




Europe


9.5


10.1


7.8




North America


6.7


5.4


8.3




Japan


1.1


1.1


1.1




Other


0.0


0.4


1.2




Other Pacific


0.7


0.9


0.9




TOTAL


100


100


100




                
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 Name


Location


Sector


Industry


£000


%




GlaxoSmithKline


UK


Health Care


Pharmaceuticals & biotechnology


23,775


2.52




Rio Tinto


UK


Basic Materials


Mining


22,309


2.37




Barclays


UK


Financials


Banks


18,481


1.96




HSBC


UK


Financials


Banks


18,095


1.92




BP


UK


Oil & Gas


Oil & gas producers


17,955


1.91




Royal Dutch Shell 


UK


Oil & Gas


Oil & gas producers


17,488


1.86




Royal Mail


UK


Industrials


Industrial transportation


16,986


1.80




Accsys Technologies


UK


Industrials


Construction & materials


16,305


1.72




Lloyds Banking Group


UK


Financials


Banks


14,007


1.48




Ceres Power


UK


Oil & Gas


Oil equipment services & distribution


13,886


1.47




Aviva


UK


Financials


Life insurance/assurance


13,740


1.45




Morgan Advanced Materials


UK


Industrials


Electronic & electrical equipment


13,591


1.44




Herald Investment Trust


UK


Financials


Equity investment instruments


13,080


1.38




National Grid


UK


Utilities


Gas, water & multiutilities


12,976


1.37




Anglo American


UK


Basic Materials


Mining


12,926


1.37




Senior


UK


Industrials


Aerospace & defence


12,925


1.37




Prudential Corp


UK


Financials


Life insurance/assurance


12,824


1.36




NatWest


UK


Financials


Banks


12,694


1.34




Severn Trent


UK


Utilities


Gas, water & multiutilities


12,505


1.32




BT Group


UK


Telecommunications


Fixed Line Telecommunications


12,122


1.28




Dunelm


UK


Consumer Services


General retailers


11,778


1.25




Smith (DS)


UK


Industrials


General industrials


11,765


1.24




BHP


UK


Basic Materials


Mining


11,715


1.24




Relx


UK


Consumer Services


Media


11,511


1.22




M & G


UK


Financials


Financial services


11,440


1.21




Direct Line Insurance


UK


Financials


Nonlife insurance


10,688


1.13




Kier


UK


Industrials


Construction & materials


10,644


1.13




Vodafone


UK


Telecommunications


Mobile telecommunications


10,617


1.12




Linde


Germany


Basic Materials


Chemicals


10,462


1.11




Toyota Motor Corporation


Japan


Consumer Goods


Automobiles & parts


10,427


1.10




IP Group


UK


Financials


Financial services


10,327


1.09




Applied Materials


USA


Technology


Technology hardware & equipment


10,296


1.09




Land Securities


UK


Financials


Real estate investment trusts


10,288


1.09




AFC Energy


UK


Oil & Gas


Alternative Energy


10,160


1.07




Johnson Service Group


UK


Industrials


Support services


9,899


1.05




Hipgnosis Songs Fund


UK


Financials


Equity investment instruments


9,881


1.05




Tesco


UK


Consumer Goods


Food & Drug Retailers


9,591


1.01




BAE Systems


UK


Industrials


Aerospace & defence


9,396


0.99




ITM Power


UK


Oil & Gas


Oil equipment services & distribution


9,100


0.96




Schlumberger


USA


Oil & Gas


Oil equipment services & distribution


9,048


0.96




Mondi


UK


Basic Materials


Forestry & paper


9,030


0.96




Elementis


UK


Basic Materials


Chemicals


8,830


0.93




Standard Chartered


UK


Financials


Banks


8,693


0.92




Balfour Beatty


UK


Industrials


Construction & materials


8,475


0.90




Croda


UK


Basic Materials


Chemicals


8,469


0.90




Hill & Smith


UK


Industrials


Industrial engineering


8,450


0.89




Rolls Royce


UK


Industrials


Aerospace & defence


8,359


0.88




Cummins


USA


Industrials


Industrial engineering


8,286


0.88




Hammerson


UK


Financials


Real estate investment trusts


8,207


0.87




Standard Life Aberdeen


UK


Financials


Financial services


8,147


0.86




General Motors


USA


Consumer Goods


Automobiles & parts


8,130


0.86




Urban Logistics REIT


UK


Financials


Real estate investment trusts


8,083


0.85




Watkin Jones


UK


Consumer Goods


Household goods & home construction


7,955


0.84




Caterpillar


USA


Industrials


Industrial engineering


7,869


0.83




Hiscox


UK


Financials


Nonlife insurance


7,522


0.80




IMI


UK


Industrials


Industrial engineering


7,521


0.80




Marks & Spencer


UK


Consumer Services


General retailers


7,469


0.79




Smith & Nephew


UK


Health Care


Health care equipment & services


7,344


0.78




Scottish Oriental Small Co


Pacific


Financials


Equity investment instruments


6,925


0.73




Spectris


UK


Industrials


Electronic & electrical equipment


6,874


0.73




TT Electronics


UK


Industrials


Electronic & electrical equipment


6,847


0.72




SigmaRoc


UK


Industrials


Construction & materials


6,794


0.72




Halfords


UK


Consumer Services


General retailers


6,684


0.71




Irish Continental Group


Ireland


Consumer Services


Travel & leisure


6,617


0.70




Gibson Energy


Canada


Oil & Gas


Oil & gas producers


6,463


0.68




Unilever


UK


Consumer Goods


Personal goods


6,346


0.67




Convatec Group


UK


Health Care


Health care equipment & services


6,256


0.66




International Personal Finance


UK


Financials


Financial services


6,203


0.66




Marshalls


UK


Industrials


Construction & materials


6,170


0.65




Bristol-Myers Squibb


USA


Health Care


Pharmaceuticals & biotechnology


6,038


0.64




International Consolidated Airlines


UK


Consumer Services


Travel & leisure


5,987


0.63




Sanofi


France


Health Care


Pharmaceuticals & biotechnology


5,681


0.60




Euromoney


UK


Consumer Services


Media


5,626


0.60




Chesnara


UK


Financials


Life insurance/assurance


5,530


0.58




Centrica


UK


Utilities


Gas, water & multiutilities


5,144


0.54




Provident Financial


UK


Financials


Financial services


5,123


0.54




Ibstock


UK


Industrials


Construction & materials


5,114


0.54




Morses Club


UK


Financials


Financial services


5,069


0.54




Oxford Sciences Innovation


UKULM


Financials


Financial services


4,847


0.51




Merck & Co


USA


Health Care


Pharmaceuticals & biotechnology


4,671


0.49




Redde Northgate


UK


Industrials


Support services


4,651


0.49




Glencore 


Switzerland


Basic Materials


Mining


4,641


0.49




Meggitt


UK


Industrials


Aerospace & defence


4,612


0.49




Koninklijke DSM


Netherlands


Basic Materials


Chemicals


4,585


0.48




Jubilee Metals Group


UK


Basic Materials


Mining


4,550


0.48




SSE


UK


Utilities


Electricity


4,500


0.48




Studio Retail Group


UK


Consumer Services


General retailers


4,357


0.46




Babcock


UK


Industrials


Aerospace & defence


4,339


0.46




Cellnex Telecom


Spain


Telecommunications


Mobile telecommunications


4,081


0.43




Bawag


Austria


Financials


Banks


3,882


0.41




Indus Gas


UK


Oil & Gas


Oil & gas producers


3,878


0.41




Weir Group


UK


Industrials


Industrial engineering


3,701


0.39




Nestle


Switzerland


Consumer Goods


Food producers


3,668


0.39




Boku


UK


Industrials


Support services


3,640


0.39




Munchener Rueckver 


Germany


Financials


Nonlife insurance


3,542


0.37




Ricardo


UK


Industrials


Support services


3,410


0.36




Phoenix Group Holdings


UK


Financials


Life insurance/assurance


3,375


0.36




Grit Real Estate Income Group


Guernsey


Financials


Real estate investment trusts


3,322


0.35




Roche


Switzerland


Health Care


Pharmaceuticals & biotechnology


3,309


0.35




Marstons


UK


Consumer Services


Travel & leisure


3,236


0.34




VH Global Sustainable Energy Opportunities


UK


Other


Sustainable Energy 


2,991


0.32




iEnergizer


Guernsey


Industrials


Support services


2,960


0.31




Sig Combibloc


Switzerland


Industrials


General industrials


2,861


0.30




Novo Nordisk


Denmark


Health Care


Pharmaceuticals & biotechnology


2,853


0.30




Augean


UK


Industrials


Support services


2,849


0.30




UniCredit


Italy


Financials


Banks


2,836


0.30




Stellantis


Netherlands


Consumer Goods


Automobiles & parts


2,795


0.30




Amundi


France


Financials


Financial services


2,750


0.29




Worldline


France


Industrials


Support services


2,701


0.29




ASML


Netherlands


Technology


Technology hardware & equipment


2,701


0.29




Bacanora Lithium


UK


Basic Materials


Mining


2,674


0.28




Vertu Motors


UK


Consumer Services


General retailers


2,584


0.27




Plant Health Care


USA


Basic Materials


Chemicals


2,477


0.26




Mirriad Advertising


UK


Consumer Services


Media


2,427


0.26




Prosus


Netherlands


Technology


Software & computer services


2,316


0.24




CNH Industrial


UK


Industrials


Industrial engineering


2,083


0.22




Blue Prism Group


UK


Technology


Software & computer services


2,025


0.21




Nexi


Italy


Industrials


Support services


1,974


0.21




Ilika


UK


Oil & Gas


Alternative Energy


1,937


0.20




Allied Minds


UK


Financials


Financial services


1,924


0.20




Moncler


Italy


Consumer Goods


Personal goods


1,906


0.20




Faurecia


France


Consumer Goods


Automobiles & parts


1,805


0.19




Grifols


Spain


Health Care


Pharmaceuticals & biotechnology


1,492


0.16




Longboat Energy


UK


Oil & Gas


Oil & gas producers


1,400


0.15




Renold


UK


Industrials


Industrial engineering


1,291


0.14




Surface Transforms


UK


Consumer Goods


Automobiles & parts


1,240


0.13




Tullow Oil


UK


Oil & Gas


Oil & gas producers


1,189


0.13




Telecom Italia RSP


Italy


Telecommunications


Mobile telecommunications


1,136


0.12




Koninklijke KPN


Netherlands


Telecommunications


Fixed Line Telecommunications


1,064


0.11




Velocys


UK


Oil & Gas


Oil equipment services & distribution


882


0.09




Logistics Development Group


UK


Industrials


Industrial transportation


880


0.09




SIMEC Atlantis Energy


UK


Utilities


Electricity


867


0.09




Harbour Energy


UK


Oil & Gas


Oil & gas producers


707


0.07




Allfunds Group


UK


Other


Other


682


0.07




Carclo


UK


Basic Materials


Chemicals


644


0.07




Danone SA


France


Consumer Goods


Food producers


613


0.06




Embracer Group


Sweden


Consumer Goods


Leisure Goods


604


0.06




Brockhaus Capital Management


Germany


Financials


Financial services


537


0.06




AUTO1 Group


Germany


Other


Financial Technology


453


0.05




Unlisted


UK


Financials


Financial services


213


0.02




Providence Resources


UK


Oil & Gas


Oil & gas producers


116


0.01




Thungela Resources


Other


Other


Sustainable Energy 


89


0.01




NOW Inc


USA


Oil & Gas


Oil equipment services & distribution


86


0.01




                
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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  END
 
 
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