REG - Law Debenture Corp - Net Asset Value(s)
Mon 15:45
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251103:nRSC9794Fa&default-theme=true
RNS Number : 9794F Law Debenture Corp PLC 03 November 2025
The Law Debenture Corporation p.l.c.
Net Asset Value as at 31 October 2025
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 business(1)
on 31 October 2025 was 1,029.24 pence per share (cum income). With the
Corporation's long term debt stated at fair value, the NAV was 1,064.86 pence
per share (cum income). The mid-market price at the close of business on 31
October 2025 was 1,040.00 pence per share.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 1,026.95 1,029.24
NAV with debt at fair value 1,062.57 1,064.86
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par)(2) 26.1 28.3 65.5 124.7 173.7
NAV total return (with debt at fair value)(2) 25.5 27.9 65.7 150.1 189.1
FTSE Actuaries All-Share Index Total Return(3) 20.9 22.5 50.9 98.6 116.3
Share price total return(3) 19.7 24.1 56.8 150.3 192.6
Change in Retail Price Index(4) 3.6 3.9 14.0 38.0 56.5
(1) The fair value of the IPS business has been calculated as at 30 June 2025.
(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) Share Price source: Refinitiv.
(4) Source: Office for National Statistics, subject to latest published RPI,
September 2025.
Geographical Split of investment portfolio
Region % of portfolio % of portfolio
31 October 2025 31 December 2024
UK 90.2 87.6
Europe 4.4 5.5
North America 4.2 5.6
Japan 1.0 1.3
Other 0.2 0
Other Pacific 0 0
TOTAL 100 100
Full Portfolio Listing
As at 31 October 2025 the full holdings of the portfolio comprised of the
following:
Holding Name Location Sector Industry £000 %
Barclays UK Financials Banks 47,212 3.55
HSBC UK Financials Banks 46,107 3.47
Shell UK Oil & Gas Oil & gas producers 35,588 2.67
GlaxoSmithKline UK Health Care Pharmaceuticals & biotechnology 29,200 2.19
Rio Tinto UK Basic Materials Mining 28,796 2.17
BP UK Oil & Gas Oil & gas producers 25,211 1.90
Rolls Royce UK Industrials Aerospace & defence 24,799 1.87
Flutter Entertainment UK Consumer Services Travel & leisure 24,549 1.85
Standard Chartered UK Financials Banks 23,949 1.81
National Grid UK Utilities Gas, water & multiutilities 19,277 1.45
Kier UK Industrials Construction & materials 18,673 1.41
Balfour Beatty UK Industrials Construction & materials 18,535 1.40
Boku UK Industrials Support services 18,427 1.39
J Sainsbury UK Consumer Services General retailers 18,276 1.38
Senior UK Industrials Aerospace & defence 17,214 1.30
Aviva UK Financials Life insurance/assurance 17,200 1.30
Kingfisher UK Consumer Goods Household goods & home construction 17,137 1.29
Ceres Power UK Oil & Gas Oil equipment services & distribution 17,071 1.29
Tesco UK Consumer Goods Food & Drug Retailers 17,010 1.28
Lloyds Banking Group UK Financials Banks 16,925 1.28
NatWest UK Financials Banks 16,638 1.25
IMI UK Industrials Industrial engineering 16,404 1.24
Prudential UK Financials Life insurance/assurance 16,176 1.22
Marks & Spencer UK Consumer Services General retailers 15,912 1.20
M & G UK Financials Financial services 15,798 1.19
Cummins USA Industrials Industrial engineering 15,631 1.18
Herald Investment Trust UK Financials Equity investment instruments 15,000 1.13
BT Group UK Telecommunications Fixed Line Telecommunications 14,856 1.12
International Consolidated Airlines UK Consumer Services Travel & leisure 14,352 1.08
Hill & Smith UK Industrials Industrial engineering 14,344 1.08
BAE Systems UK Industrials Aerospace & defence 14,029 1.06
Anglo American UK Basic Materials Mining 13,922 1.05
Johnson Matthey UK Other Sustainable Energy 13,858 1.04
Land Securities UK Financials Real estate investment trusts 13,509 1.02
Irish Continental Group Ireland Consumer Services Travel & leisure 13,197 0.99
Babcock UK Industrials Aerospace & defence 13,063 0.98
Shaftesbury Capital UK Financials Real estate investment trusts 12,987 0.98
IP Group UK Financials Financial services 12,908 0.97
Toyota Motor Corporation Japan Consumer Goods Automobiles & parts 12,778 0.96
Schroders UK Financials Financial services 12,710 0.96
Hiscox UK Financials Nonlife insurance 12,438 0.94
Severn Trent UK Utilities Gas, water & multiutilities 12,097 0.91
Associated British Foods UK Consumer Goods Food producers 12,044 0.91
Cranswick UK Consumer Goods Food producers 11,793 0.89
Smith & Nephew UK Health Care Health care equipment & services 11,521 0.87
British Land Company UK Financials Real estate investment trusts 11,388 0.86
Ibstock UK Industrials Construction & materials 10,771 0.81
Infineon Technologies Germany Industrials Electronic & electrical equipment 10,720 0.81
Greencoat UK Wind UK Utilities Electricity 10,540 0.79
International Personal Finance UK Financials Financial services 10,532 0.79
ITV UK Consumer Services Media 10,273 0.77
Morgan Advanced Materials UK Industrials Electronic & electrical equipment 10,200 0.77
Reckitt Benckiser Group UK Health Care Health care equipment & services 10,178 0.77
Vodafone UK Telecommunications Mobile telecommunications 10,133 0.76
General Motors USA Consumer Goods Automobiles & parts 9,976 0.75
Hammerson UK Financials Real estate investment trusts 9,732 0.73
Phoenix Group Holdings UK Financials Life insurance/assurance 9,436 0.71
VH Global Energy Infrastructure UK Other Sustainable Energy 9,380 0.71
Johnson Service Group UK Industrials Support services 9,274 0.70
Dunelm UK Consumer Services General retailers 9,271 0.70
Scottish Oriental Smaller Companies Trust UK Financials Equity investment instruments 9,160 0.69
Whitbread UK Consumer Services Travel & leisure 8,981 0.68
ITM Power UK Oil & Gas Oil equipment services & distribution 8,967 0.68
Weir Group UK Industrials Industrial engineering 8,880 0.67
Chesnara UK Financials Life insurance/assurance 8,759 0.66
Segro UK Financials Real estate investment trusts 8,718 0.66
Oxford Nanopore Technologies UK Technology Advanced Medical Equipment & Technology 8,481 0.64
HICL Infrastructure UK Financials Equity investment instruments 8,400 0.63
Marshalls UK Industrials Construction & materials 8,024 0.60
Beazley UK Financials Nonlife insurance 7,905 0.60
Sabre Insurance Group UK Financials Nonlife insurance 7,705 0.58
AFC Energy UK Oil & Gas Alternative Energy 7,676 0.58
SSE UK Utilities Electricity 7,664 0.58
Vanquis Banking Group UK Financials Financial services 7,647 0.58
Standard Life Aberdeen UK Financials Financial services 7,613 0.57
Elementis UK Basic Materials Chemicals 7,414 0.56
SigmaRoc UK Industrials Construction & materials 7,348 0.55
Haleon UK Health Care Pharmaceuticals & biotechnology 7,080 0.53
Workspace Group UK Financials Real estate investment trusts 6,688 0.50
Ondine Biomedical Canada Health Care Pharmaceuticals & biotechnology 6,506 0.49
Accsys Technologies UK Industrials Construction & materials 6,401 0.48
Mondi UK Basic Materials Forestry & paper 6,374 0.48
Freeport-McMoran USA Basic Materials Mining 6,340 0.48
Gibson Energy Canada Oil & Gas Oil & gas producers 6,026 0.45
Great Portland Estates UK Financials Real estate investments & services 5,828 0.44
Bristol-Myers Squibb USA Health Care Pharmaceuticals & biotechnology 5,781 0.44
Zigup UK Industrials Support services 5,777 0.44
Inchcape UK Industrials Support services 5,726 0.43
Invinity Energy Systems UK Oil & Gas Alternative Energy 5,501 0.41
TT Electronics UK Industrials Electronic & electrical equipment 5,259 0.40
Croda UK Basic Materials Chemicals 5,049 0.38
Oxford Sciences Innovation UKULM Financials Financial services 5,000 0.38
Ilika UK Oil & Gas Alternative Energy 4,906 0.37
Halfords UK Consumer Services General retailers 4,871 0.37
Easyjet UK Industrials Aerospace & defence 4,845 0.37
Roche Switzerland Health Care Pharmaceuticals & biotechnology 4,745 0.36
Air Products and Chemicals Canada Oil & Gas Oil & gas producers 4,609 0.35
Rathbones Group UK Financials Equity investment instruments 4,460 0.34
Bellway UK Consumer Goods Household goods & home construction 4,330 0.33
Sanofi France Health Care Pharmaceuticals & biotechnology 4,267 0.32
Vertu Motors UK Consumer Services General retailers 4,266 0.32
Gelion UK Other Sustainable Energy 4,215 0.32
Next Fifteen Communications Group UK Consumer Services Media 4,140 0.31
Serica Energy UK Oil & Gas Oil & gas producers 3,798 0.29
Castings UK Industrials Construction & materials 3,784 0.29
Siemens Germany Technology Software & computer services 3,417 0.26
Reach UK Consumer Services Media 3,410 0.26
Safran France Industrials Aerospace & defence 3,322 0.25
Munchener Rueckver Germany Financials Nonlife insurance 3,153 0.24
Jubilee Metals Group UK Basic Materials Mining 3,050 0.23
Tate & Lyle UK Consumer Goods Food producers 2,897 0.22
SAP Germany Technology Software & computer services 2,893 0.22
XP Power UK Technology Technology hardware & equipment 2,756 0.21
Valterra Platinum Other Basic Materials Mining 2,650 0.20
ASML Netherlands Technology Technology hardware & equipment 2,602 0.20
Marstons UK Consumer Services Travel & leisure 2,601 0.20
Deutsche Boerse Germany Financials Financial services 2,260 0.17
Seascape Energy Asia UK Oil & Gas Oil & gas producers 2,070 0.16
SGS Switzerland Industrials Support services 1,989 0.15
Hercules Site Services UK Industrials Construction & materials 1,865 0.14
Windar Photonics UK Industrials Waste & Environ Svcs & Equip 1,863 0.14
Surface Transforms UK Consumer Goods Automobiles & parts 1,776 0.13
Watkin Jones UK Consumer Goods Household goods & home construction 1,770 0.13
Renishaw UK Technology Technology hardware & equipment 1,768 0.13
Grit Real Estate Income Group Guernsey Financials Real estate investment trusts 1,510 0.11
Nestle Switzerland Consumer Goods Food producers 1,429 0.11
Kone Finland Industrials Electronic & electrical equipment 1,134 0.09
ASM International Netherlands Industrials Electronic & electrical equipment 1,088 0.08
Arbuthnot Banking Group UK Financials Financial services 1,087 0.08
DSM-Firmenich Netherlands Basic Materials Chemicals 935 0.07
Carclo UK Basic Materials Chemicals 901 0.07
First Tin UK Basic Materials Mining 900 0.07
Kistos UK Oil & Gas Oil & gas producers 833 0.06
Logistics Development Group UK Industrials Industrial transportation 800 0.06
Ampeak Energy UK Utilities Electricity 416 0.03
Gran Tierra Energy Canada Oil & Gas Oil & gas producers 383 0.03
Indus Gas UK Oil & Gas Oil & gas producers 161 0.01
Deltic Energy UK Oil & Gas Oil & gas producers 111 0.01
In accordance with UK listing rule 11.7.8, The Law Debenture Corporation
p.l.c. announces that it has no investments in other UK listed closed-ended
investment funds that require to be disclosed.
Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate,
London, EC2N 4AG (contact Nicola Lambourne, Company Secretariat, 020 7606
5451).
The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END NAVBUBDBRXGDGUX
Copyright 2019 Regulatory News Service, all rights reservedRecent news on Law Debenture
See all newsREG - Law Debenture Corp - Net Asset Value(s)
AnnouncementREG - Law Debenture Corp - Net Asset Value(s)
AnnouncementREG - Law Debenture Corp - Net Asset Value(s)
AnnouncementREG - Law Debenture Corp - Net Asset Value(s)
AnnouncementREG - Law Debenture Corp - Total Voting Rights
Announcement