REG - Law Debenture Corp - Net Asset Value(s)
02/02/2026 18:00
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RNS Number : 4019R Law Debenture Corp PLC 02 February 2026
The Law Debenture Corporation p.l.c.
Net Asset Value as at 30 January 2026
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 30 January 2026 was 1,093.92 pence per share (cum income). With the
Corporation's long term debt stated at fair value, the NAV was 1,128.92 pence
per share (cum income). The mid-market price at the close of business on 30
January 2026 was 1,134.00 pence per share.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 1,094.24 1,093.92
NAV with debt at fair value 1,129.24 1,128.92
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par)(2) 4.9 31.1 56.2 95.8 209.1
NAV total return (with debt at fair value)(2) 4.7 30.4 57.5 114.7 227.1
FTSE Actuaries All-Share Index Total Return(3) 3.1 21.1 44.5 80.8 137.6
Share price total return(3) 7.6 28.6 55.5 112.2 275.3
Change in Retail Price Index(4) 0.0 4.3 13.4 38.3 57.8
(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,
December 2025.
Geographical Split of investment portfolio
Region % of portfolio % of portfolio
30 January 2026 31 December 2025
UK 89.7 89.9
Europe 4.6 4.5
North America 4.4 4.3
Japan 1.0 1.0
Other 0.3 0.3
TOTAL 100 100
Full Portfolio Listing
As at 30 January 2026 the full holdings of the portfolio comprised of the
following:
Holding Name Location Sector Industry £000 %
Barclays UK Financials Banks 56,399 3.95
HSBC UK Financials Banks 55,734 3.90
Rio Tinto UK Basic Materials Mining 35,369 2.48
Shell UK Oil & Gas Oil & gas producers 34,919 2.45
GlaxoSmithKline UK Health Care Pharmaceuticals & biotechnology 30,766 2.16
Standard Chartered UK Financials Banks 28,587 2.01
BP UK Oil & Gas Oil & gas producers 26,437 1.86
Senior UK Industrials Aerospace & defence 22,082 1.55
National Grid UK Utilities Gas, water & multiutilities 20,867 1.46
Lloyds Banking Group UK Financials Banks 20,663 1.45
Cummins USA Industrials Industrial engineering 19,863 1.39
Flutter Entertainment UK Consumer Services Travel & leisure 19,742 1.39
Balfour Beatty UK Industrials Construction & materials 19,737 1.39
Rolls Royce UK Industrials Aerospace & defence 19,671 1.38
IMI UK Industrials Industrial engineering 18,975 1.33
NatWest UK Financials Banks 18,953 1.33
Ceres Power UK Oil & Gas Oil equipment services & distribution 18,853 1.32
Kingfisher UK Consumer Goods Household goods & home construction 18,729 1.31
M & G UK Financials Financial services 18,558 1.30
Prudential UK Financials Life insurance/assurance 18,469 1.30
Boku UK Industrials Support services 17,934 1.26
Marks & Spencer UK Consumer Services General retailers 17,568 1.23
J Sainsbury UK Consumer Services General retailers 17,141 1.20
Kier UK Industrials Construction & materials 17,042 1.20
Anglo American UK Basic Materials Mining 16,499 1.16
Aviva UK Financials Life insurance/assurance 16,357 1.15
Tesco UK Consumer Goods Food & Drug Retailers 15,744 1.11
Johnson Matthey UK Other Sustainable Energy 15,314 1.07
BT Group UK Telecommunications Fixed Line Telecommunications 15,304 1.07
Herald Investment Trust UK Financials Equity investment instruments 15,210 1.07
Schroders UK Financials Financial services 15,122 1.06
Hill & Smith UK Industrials Industrial engineering 14,810 1.04
BAE Systems UK Industrials Aerospace & defence 14,805 1.04
Irish Continental Group Ireland Consumer Services Travel & leisure 14,434 1.01
Babcock UK Industrials Aerospace & defence 14,378 1.01
International Consolidated Airlines UK Consumer Services Travel & leisure 14,372 1.01
Land Securities UK Financials Real estate investment trusts 14,139 0.99
Segro UK Financials Real estate investment trusts 14,034 0.99
Toyota Motor Corporation Japan Consumer Goods Automobiles & parts 13,640 0.96
Hiscox UK Financials Nonlife insurance 13,405 0.94
Shaftesbury Capital UK Financials Real estate investment trusts 13,274 0.93
Infineon Technologies Germany Industrials Electronic & electrical equipment 12,833 0.90
Severn Trent UK Utilities Gas, water & multiutilities 12,737 0.89
IP Group UK Financials Financial services 12,631 0.89
Cranswick UK Consumer Goods Food producers 12,569 0.88
British Land Company UK Financials Real estate investment trusts 12,438 0.87
International Personal Finance UK Financials Financial services 12,103 0.85
Vodafone UK Telecommunications Mobile telecommunications 11,814 0.83
General Motors USA Consumer Goods Automobiles & parts 11,659 0.82
Morgan Advanced Materials UK Industrials Electronic & electrical equipment 11,450 0.80
Hammerson UK Financials Real estate investment trusts 11,301 0.79
AFC Energy UK Oil & Gas Alternative Energy 10,799 0.76
Oxford Nanopore Technologies UK Technology Advanced Medical Equipment & Technology 10,371 0.73
Phoenix Group Holdings UK Financials Life insurance/assurance 10,346 0.73
Smith & Nephew UK Health Care Health care equipment & services 10,180 0.71
Ibstock UK Industrials Construction & materials 10,028 0.70
Associated British Foods UK Consumer Goods Food producers 10,001 0.70
ITV UK Consumer Services Media 9,953 0.70
Greencoat UK Wind UK Utilities Electricity 9,800 0.69
Chesnara UK Financials Life insurance/assurance 9,731 0.68
VH Global Energy Infrastructure UK Other Sustainable Energy 9,688 0.68
SSE UK Utilities Electricity 9,684 0.68
Weir Group UK Industrials Industrial engineering 9,678 0.68
Beazley UK Financials Nonlife insurance 9,631 0.68
Johnson Service Group UK Industrials Support services 9,616 0.67
Workspace Group UK Financials Real estate investment trusts 9,124 0.64
SigmaRoc UK Industrials Construction & materials 9,121 0.64
Freeport-McMoran USA Basic Materials Mining 8,799 0.62
Whitbread UK Consumer Services Travel & leisure 8,441 0.59
Scottish Oriental Smaller Companies Trust UK Financials Equity investment instruments 8,342 0.59
HICL Infrastructure UK Financials Equity investment instruments 8,176 0.57
Standard Life Aberdeen UK Financials Financial services 8,145 0.57
Dunelm UK Consumer Services General retailers 8,127 0.57
Vanquis Banking Group UK Financials Financial services 7,969 0.56
Marshalls UK Industrials Construction & materials 7,581 0.53
Haleon UK Health Care Pharmaceuticals & biotechnology 7,576 0.53
Sabre Insurance Group UK Financials Nonlife insurance 7,464 0.52
Elementis UK Basic Materials Chemicals 7,278 0.51
ITM Power UK Oil & Gas Oil equipment services & distribution 7,060 0.50
Accsys Technologies UK Industrials Construction & materials 6,790 0.48
Gibson Energy Canada Oil & Gas Oil & gas producers 6,692 0.47
Bristol-Myers Squibb USA Health Care Pharmaceuticals & biotechnology 6,634 0.47
Great Portland Estates UK Financials Real estate investments & services 6,528 0.46
Roche Switzerland Health Care Pharmaceuticals & biotechnology 6,424 0.45
Mondi UK Basic Materials Forestry & paper 6,405 0.45
Zigup UK Industrials Support services 6,369 0.45
Inchcape UK Industrials Support services 6,124 0.43
Invinity Energy Systems UK Oil & Gas Alternative Energy 6,039 0.42
Rathbones Group UK Financials Equity investment instruments 5,500 0.39
Oxford Sciences Innovation UKULM Financials Financial services 5,333 0.37
Air Products and Chemicals Canada Oil & Gas Oil & gas producers 4,977 0.35
Halfords UK Consumer Services General retailers 4,891 0.34
Derwent London UK Financials Real estate investment trusts 4,803 0.34
Easyjet UK Industrials Aerospace & defence 4,775 0.34
Croda UK Basic Materials Chemicals 4,774 0.34
3I INFRASTRUCTURE UK Financials Equity investment instruments 4,663 0.33
Marstons UK Consumer Services Travel & leisure 4,638 0.33
Jubilee Metals Group UK Basic Materials Mining 4,576 0.32
Bellway UK Consumer Goods Household goods & home construction 4,481 0.31
Castings UK Industrials Construction & materials 4,426 0.31
Serica Energy UK Oil & Gas Oil & gas producers 4,300 0.30
Vertu Motors UK Consumer Services General retailers 4,287 0.30
Ondine Biomedical Canada Health Care Pharmaceuticals & biotechnology 4,003 0.28
Gelion UK Other Sustainable Energy 3,890 0.27
Valterra Platinum Other Basic Materials Mining 3,872 0.27
TT Electronics UK Industrials Electronic & electrical equipment 3,830 0.27
Sanofi France Health Care Pharmaceuticals & biotechnology 3,807 0.27
Reach UK Consumer Services Media 3,687 0.26
Siemens Germany Technology Software & computer services 3,511 0.25
Next Fifteen Communications Group UK Consumer Services Media 3,505 0.25
Ilika UK Oil & Gas Alternative Energy 3,423 0.24
ASML Netherlands Technology Technology hardware & equipment 3,390 0.24
XP Power UK Technology Technology hardware & equipment 3,373 0.24
Safran France Industrials Aerospace & defence 3,207 0.23
Munchener Rueckver Germany Financials Nonlife insurance 2,977 0.21
Tate & Lyle UK Consumer Goods Food producers 2,825 0.20
Hercules Site Services UK Industrials Construction & materials 2,369 0.17
Seascape Energy Asia UK Oil & Gas Oil & gas producers 2,310 0.16
Deutsche Boerse Germany Financials Financial services 2,158 0.15
SAP Germany Technology Software & computer services 2,154 0.15
Greencore Group Ireland Consumer Goods Beverages 2,078 0.15
SGS Switzerland Industrials Support services 2,037 0.14
Grit Real Estate Income Group Guernsey Financials Real estate investment trusts 1,963 0.14
Renishaw UK Technology Technology hardware & equipment 1,898 0.13
First Tin UK Basic Materials Mining 1,860 0.13
Watkin Jones UK Consumer Goods Household goods & home construction 1,801 0.13
Windar Photonics UK Industrials Waste & Environ Svcs & Equip 1,464 0.10
Nestle Switzerland Consumer Goods Food producers 1,365 0.10
ASM International Netherlands Industrials Electronic & electrical equipment 1,354 0.10
Surface Transforms UK Consumer Goods Automobiles & parts 1,269 0.09
Kone Finland Industrials Electronic & electrical equipment 1,172 0.08
Kistos UK Oil & Gas Oil & gas producers 1,058 0.07
Arbuthnot Banking Group UK Financials Financial services 1,027 0.07
DSM-Firmenich Netherlands Basic Materials Chemicals 862 0.06
Logistics Development Group UK Industrials Industrial transportation 859 0.06
Carclo UK Basic Materials Chemicals 679 0.05
Gran Tierra Energy Canada Oil & Gas Oil & gas producers 586 0.04
Ampeak Energy UK Utilities Electricity 524 0.04
Deltic Energy UK Oil & Gas Oil & gas producers 43
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
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