Net Asset Value and Portfolio Update
Updated : 07:02
Net Asset Value
The Law Debenture Corporation p.l.c. announces that its preliminary Net Asset Value ("NAV") with borrowings at par and including fair value of IPS businesses* on 30 June 2019 was 672.46 pence per share (ex income) and 685.62 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 644.53 pence per share (ex income) and 657.69 pence per share (cum income). The mid-market price at the close of business on 30 June 2019 was 592.00 pence per share.
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. Its top ten holdings, including all holdings with a value greater than 5% of the Corporation's gross assets as at 30 June 2019 are set out below.
Top 10 Holdings
The top 10 holdings in the investment portfolio as at 30 June 2019 were:
Rank | Name of Holding | % of portfolio (excl. cash) |
1. | Royal Dutch Shell | 4.23 |
2. | Rio Tinto | 2.40 |
3. | GlaxoSmithKline | 2.38 |
4. | BP | 2.30 |
5. | HSBC | 2.27 |
6. | Prudential | 2.10 |
7. | Relx | 1.88 |
8. | Rolls Royce | 1.82 |
9. | Johnson Service | 1.76 |
10. | Senior | 1.66 |
Geographical Split of investment portfolio
Region | % of portfolio |
UK | 69 |
Europe | 7 |
North America | 8 |
Japan | 1 |
Other Pacific | 4 |
Other | 1 |
Cash and Fixed Interest | 10 |
|
|
TOTAL | 100 |
* The IPS fair value is the value that has been applied consistently since the most recent formal valuation at 31 December 2018. The fair value at 30 June 2019 is still being calculated and will be published as part of our results. This along with other half year-end adjustments will result in a slight variance in the NAV in our Half Yearly Report to that which is published today.
Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Ian Bowden, Company Secretariat, 020 7696 5285).
The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21
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