Net Asset Value and Portfolio Update
Updated : 07:05
Net Asset Value
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* on 31 January 2020 was 687.92 pence per share (ex income) and 712.52 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 651.37 pence per share (ex income) and 675.97 pence per share (cum income). The mid-market price at the close of business on 31 January 2020 was 614.00 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 31 January 2020 are set out below.
Top 10 Holdings
The top 10 holdings in the investment portfolio as at 31 January 2020 were:
Rank | Name of Holding | % of portfolio (excl. cash) |
1. | GlaxoSmithKline | 3.67 |
2. | Royal Dutch Shell | 3.07 |
3. | Ceres Power | 2.40 |
4. | Rio Tinto | 1.88 |
5. | Relx | 1.85 |
6. | Johnson Service | 1.80 |
7. | BP | 1.79 |
8. | HSBC | 1.78 |
9. | National Grid | 1.74 |
10. | AstraZeneca | 1.63 |
Geographical Split of investment portfolio
Region | % of portfolio |
UK | 76 |
Europe | 8 |
North America | 7 |
Japan | 1 |
Other Pacific | 1 |
Other | 1 |
Cash and Fixed Interest | 6 |
TOTAL | 100 |
* The fair value of the IPS business is consistent with the most recent formal valuation at 30 June 2019. The fair value at 31 December 2019 is currently being calculated and will be published as part of our audited results.
Released by The Law Debenture Corporation p.l.c., Fifth Floor, 100 Wood Street, London, EC2V 7EX (contact Debbie Fish, Company Secretariat, 020 7696 5940).
The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21
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