REG - Law Debenture Corp - Net Asset Value(s)
01/12/2025 17:45
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251201:nRSA7697Ja&default-theme=true
RNS Number : 7697J Law Debenture Corp PLC 01 December 2025
The Law Debenture Corporation p.l.c.
Net Asset Value as at 28 November 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 28 November 2025 was 1,033.52 pence per share (cum income). With the
Corporation's long term debt stated at fair value, the NAV was 1,069.24 pence
per share (cum income). The mid-market price at the close of business on 28
November 2025 was 1,032.00 pence per share.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 1,028.37 1,033.52
NAV with debt at fair value 1,064.08 1,069.24
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par)(2) 26.6 25.6 55.0 91.5 172.4
NAV total return (with debt at fair value)(2) 26.0 25.5 56.4 111.2 188.3
FTSE Actuaries All-Share Index Total Return(3) 21.4 20.0 41.3 76.8 115.9
Share price total return(3) 18.7 19.7 48.2 102.5 200.4
Change in Retail Price Index(4) 3.9 4.3 13.7 38.8 56.8
(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,
October 2025.
Geographical Split of investment portfolio
Region % of portfolio % of portfolio
28 November 2025 31 December 2024
UK 90.0 87.6
Europe 4.5 5.5
North America 4.4 5.6
Japan 0.9 1.3
Other 0.2 0
Other Pacific 0 0
TOTAL 100 100
Full Portfolio Listing
As at 28 November 2025 the full holdings of the portfolio comprised of the
following:
Holding Name Location Sector Industry £000 %
Barclays UK Financials Banks 49,909 3.76
HSBC UK Financials Banks 46,402 3.49
Shell UK Oil & Gas Oil & gas producers 34,794 2.62
GlaxoSmithKline UK Health Care Pharmaceuticals & biotechnology 29,364 2.20
Rio Tinto UK Basic Materials Mining 28,466 2.14
BP UK Oil & Gas Oil & gas producers 25,889 1.94
Standard Chartered UK Financials Banks 25,692 1.93
Ceres Power UK Oil & Gas Oil equipment services & distribution 23,601 1.77
Rolls Royce UK Industrials Aerospace & defence 22,684 1.70
Flutter Entertainment UK Consumer Services Travel & leisure 22,036 1.65
Balfour Beatty UK Industrials Construction & materials 19,461 1.46
National Grid UK Utilities Gas, water & multiutilities 19,379 1.46
Kier UK Industrials Construction & materials 19,363 1.45
Lloyds Banking Group UK Financials Banks 18,267 1.37
NatWest UK Financials Banks 18,012 1.35
Cummins USA Industrials Industrial engineering 17,667 1.33
J Sainsbury UK Consumer Services General retailers 17,227 1.29
Boku UK Industrials Support services 17,094 1.28
Kingfisher UK Consumer Goods Household goods & home construction 16,959 1.27
Prudential UK Financials Life insurance/assurance 16,774 1.26
Aviva UK Financials Life insurance/assurance 16,768 1.26
IMI UK Industrials Industrial engineering 16,720 1.26
Tesco UK Consumer Goods Food & Drug Retailers 16,673 1.25
Senior UK Industrials Aerospace & defence 16,492 1.24
M & G UK Financials Financial services 16,344 1.23
Hill & Smith UK Industrials Industrial engineering 14,976 1.12
Marks & Spencer UK Consumer Services General retailers 14,947 1.12
BT Group UK Telecommunications Fixed Line Telecommunications 14,464 1.09
Herald Investment Trust UK Financials Equity investment instruments 14,310 1.07
Anglo American UK Basic Materials Mining 13,805 1.04
IP Group UK Financials Financial services 13,785 1.04
International Consolidated Airlines UK Consumer Services Travel & leisure 13,619 1.02
Shaftesbury Capital UK Financials Real estate investment trusts 13,394 1.01
Land Securities UK Financials Real estate investment trusts 13,140 0.99
Irish Continental Group Ireland Consumer Services Travel & leisure 13,138 0.99
Schroders UK Financials Financial services 13,011 0.98
Johnson Matthey UK Other Sustainable Energy 12,929 0.97
Toyota Motor Corporation Japan Consumer Goods Automobiles & parts 12,499 0.94
BAE Systems UK Industrials Aerospace & defence 12,375 0.93
Cranswick UK Consumer Goods Food producers 12,330 0.93
Severn Trent UK Utilities Gas, water & multiutilities 12,258 0.92
British Land Company UK Financials Real estate investment trusts 12,198 0.92
Babcock UK Industrials Aerospace & defence 12,191 0.92
Hiscox UK Financials Nonlife insurance 12,112 0.91
Infineon Technologies Germany Industrials Electronic & electrical equipment 11,336 0.85
Associated British Foods UK Consumer Goods Food producers 11,214 0.84
Ibstock UK Industrials Construction & materials 10,613 0.80
General Motors USA Consumer Goods Automobiles & parts 10,551 0.79
International Personal Finance UK Financials Financial services 10,532 0.79
Hammerson UK Financials Real estate investment trusts 10,363 0.78
Vodafone UK Telecommunications Mobile telecommunications 10,342 0.78
Smith & Nephew UK Health Care Health care equipment & services 10,287 0.77
Reckitt Benckiser Group UK Health Care Health care equipment & services 10,238 0.77
Morgan Advanced Materials UK Industrials Electronic & electrical equipment 10,125 0.76
ITV UK Consumer Services Media 10,070 0.76
Greencoat UK Wind UK Utilities Electricity 9,955 0.75
Phoenix Group Holdings UK Financials Life insurance/assurance 9,737 0.73
Johnson Service Group UK Industrials Support services 9,657 0.73
Dunelm UK Consumer Services General retailers 9,221 0.69
Chesnara UK Financials Life insurance/assurance 9,062 0.68
Segro UK Financials Real estate investment trusts 8,930 0.67
SSE UK Utilities Electricity 8,788 0.66
Scottish Oriental Smaller Companies Trust UK Financials Equity investment instruments 8,782 0.66
Marshalls UK Industrials Construction & materials 8,726 0.66
Oxford Nanopore Technologies UK Technology Advanced Medical Equipment & Technology 8,723 0.65
VH Global Energy Infrastructure UK Other Sustainable Energy 8,652 0.65
AFC Energy UK Oil & Gas Alternative Energy 8,579 0.64
ITM Power UK Oil & Gas Oil equipment services & distribution 8,456 0.63
Weir Group UK Industrials Industrial engineering 8,310 0.62
Workspace Group UK Financials Real estate investment trusts 8,287 0.62
HICL Infrastructure UK Financials Equity investment instruments 7,924 0.59
Standard Life Aberdeen UK Financials Financial services 7,763 0.58
Whitbread UK Consumer Services Travel & leisure 7,719 0.58
SigmaRoc UK Industrials Construction & materials 7,628 0.57
Vanquis Banking Group UK Financials Financial services 7,567 0.57
Haleon UK Health Care Pharmaceuticals & biotechnology 7,416 0.56
Sabre Insurance Group UK Financials Nonlife insurance 7,349 0.55
Elementis UK Basic Materials Chemicals 7,341 0.55
Beazley UK Financials Nonlife insurance 6,779 0.51
Accsys Technologies UK Industrials Construction & materials 6,747 0.51
Mondi UK Basic Materials Forestry & paper 6,510 0.49
Freeport-McMoran USA Basic Materials Mining 6,492 0.49
Gibson Energy Canada Oil & Gas Oil & gas producers 6,393 0.48
Bristol-Myers Squibb USA Health Care Pharmaceuticals & biotechnology 6,130 0.46
Inchcape UK Industrials Support services 5,779 0.43
Zigup UK Industrials Support services 5,719 0.43
Roche Switzerland Health Care Pharmaceuticals & biotechnology 5,602 0.42
Great Portland Estates UK Financials Real estate investments & services 5,591 0.42
Ondine Biomedical Canada Health Care Pharmaceuticals & biotechnology 5,505 0.41
Oxford Sciences Innovation UKULM Financials Financial services 5,000 0.38
Easyjet UK Industrials Aerospace & defence 4,994 0.37
Air Products and Chemicals Canada Oil & Gas Oil & gas producers 4,926 0.37
Ilika UK Oil & Gas Alternative Energy 4,792 0.36
Croda UK Basic Materials Chemicals 4,764 0.36
Invinity Energy Systems UK Oil & Gas Alternative Energy 4,715 0.35
Bellway UK Consumer Goods Household goods & home construction 4,676 0.35
Rathbones Group UK Financials Equity investment instruments 4,620 0.35
Halfords UK Consumer Services General retailers 4,545 0.34
TT Electronics UK Industrials Electronic & electrical equipment 4,507 0.34
Marstons UK Consumer Services Travel & leisure 4,387 0.33
Castings UK Industrials Construction & materials 4,347 0.33
Vertu Motors UK Consumer Services General retailers 4,341 0.33
Gelion UK Other Sustainable Energy 4,214 0.32
Sanofi France Health Care Pharmaceuticals & biotechnology 4,173 0.31
Reach UK Consumer Services Media 3,381 0.25
Munchener Rueckver Germany Financials Nonlife insurance 3,190 0.24
Siemens Germany Technology Software & computer services 3,173 0.24
Safran France Industrials Aerospace & defence 3,128 0.23
Serica Energy UK Oil & Gas Oil & gas producers 2,993 0.22
Next Fifteen Communications Group UK Consumer Services Media 2,985 0.22
Valterra Platinum Other Basic Materials Mining 2,957 0.22
Jubilee Metals Group UK Basic Materials Mining 2,949 0.22
Tate & Lyle UK Consumer Goods Food producers 2,808 0.21
SAP Germany Technology Software & computer services 2,671 0.20
ASML Netherlands Technology Technology hardware & equipment 2,558 0.19
XP Power UK Technology Technology hardware & equipment 2,486 0.19
Deutsche Boerse Germany Financials Financial services 2,391 0.18
SGS Switzerland Industrials Support services 2,012 0.15
Hercules Site Services UK Industrials Construction & materials 1,915 0.14
Seascape Energy Asia UK Oil & Gas Oil & gas producers 1,860 0.14
Renishaw UK Technology Technology hardware & equipment 1,733 0.13
Watkin Jones UK Consumer Goods Household goods & home construction 1,711 0.13
Grit Real Estate Income Group Guernsey Financials Real estate investment trusts 1,661 0.12
Windar Photonics UK Industrials Waste & Environ Svcs & Equip 1,630 0.12
Surface Transforms UK Consumer Goods Automobiles & parts 1,522 0.11
Nestle Switzerland Consumer Goods Food producers 1,476 0.11
Kone Finland Industrials Electronic & electrical equipment 1,147 0.09
Arbuthnot Banking Group UK Financials Financial services 1,051 0.08
First Tin UK Basic Materials Mining 960 0.07
DSM-Firmenich Netherlands Basic Materials Chemicals 935 0.07
ASM International Netherlands Industrials Electronic & electrical equipment 917 0.07
Logistics Development Group UK Industrials Industrial transportation 889 0.07
Kistos UK Oil & Gas Oil & gas producers 684 0.05
Carclo UK Basic Materials Chemicals 677 0.05
Ampeak Energy UK Utilities Electricity 560 0.04
Gran Tierra Energy Canada Oil & Gas Oil & gas producers 507 0.04
Indus Gas UK Oil & Gas Oil & gas producers 163 0.01
Deltic Energy UK Oil & Gas Oil & gas producers 98 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 NAVBRBDDSSGDGUB
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 - Net Asset Value(s)
Announcement