TIDMLWDB

RNS Number : 3705A

Law Debenture Corp PLC

01 February 2022

The Law Debenture Corporation p.l.c.

Net Asset Value as at 31 January 2022

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 January 2022 was 813.99 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 780.69 pence per share (cum income). The mid-market price at the close of business on 31 January 2022 was 801.00 pence per share.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            801.12                    813.99 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     767.82                    780.69 
                              ------------------------  ------------------------ 
 

Performance

 
                                                   YTD  1 year  3 years  5 years  10 years 
                                                     %       %        %        %         % 
NAV total return (with debt at par) (2)           -0.9    24.4     40.8     56.4     183.8 
------------------------------------------------  ----  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)     0.1    27.4     40.6     56.8     175.3 
------------------------------------------------  ----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   -0.3    18.9     21.7     30.2     104.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
Share price total return (3)                       0.3    27.5     56.5     80.5     228.5 
------------------------------------------------  ----  ------  -------  -------  -------- 
Change in Retail Price Index (4)                   7.5     7.5     11.2     18.9      32.7 
------------------------------------------------  ----  ------  -------  -------  -------- 
 

(1) The fair value of the IPS business has been calculated as at 30 June 2021 and was published as part of the half year results announcement on 29 July 2021.

(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) Source: Refinitiv.

(4) Source: Office for National Statistics, subject to latest published RPI.

Geographical Split of investment portfolio

 
Region            % of portfolio     % of portfolio     % of portfolio 
                 31 January 2022   31 December 2021   31 December 2020 
UK                          81.5               82.6               82.1 
Europe                       9.4               10.0               10.1 
North America                5.7                5.4                5.4 
Japan                        1.2                1.1                1.1 
Other                        1.5                0.2                0.4 
Other Pacific                0.7                0.7                0.9 
TOTAL                        100                100                100 
                ----------------  -----------------  ----------------- 
 

Full Portfolio Listing

Law Debenture will now be publishing details of its full investment portfolio monthly. As at 31 January 2022 the portfolio comprised as follows:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     27,517  2.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell plc                          UK            Oil & Gas            Oil & gas producers                 23,570  2.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               22,876  2.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 21,820  2.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               21,300  2.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              19,444  1.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               15,315  1.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   15,240  1.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         15,213  1.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               15,144  1.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            14,782  1.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            14,698  1.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              14,526  1.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         14,360  1.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               13,818  1.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Relx                               UK            Consumer Services    Media                               13,608  1.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BHP Group                          Other         Basic Materials      Mining                              13,366  1.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   13,261  1.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           12,352  1.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   12,320  1.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher plc                     UK            Consumer Goods        construction                       12,249  1.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       12,209  1.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       12,120  1.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       12,040  1.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 11,964  1.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  11,853  1.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Linde                              Germany       Basic Materials      Chemicals                           11,654  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            11,540  1.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 11,364  1.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Schlumberger                       USA           Oil & Gas             distribution                       11,356  1.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   11,039  1.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith (DS)                         UK            Industrials          General industrials                 10,571  1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 10,390  1.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               10,123  1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       9,824   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 9,674   0.99 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       9,588   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    9,550   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       9,058   0.92 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     8,910   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  8,784   0.90 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   8,781   0.90 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    8,735   0.89 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       8,589   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    8,579   0.87 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              8,450   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    8,389   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           8,338   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Centrica                           UK            Utilities            Gas, water & multiutilities         8,136   0.83 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            7,962   0.81 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              7,717   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Caterpillar                        USA           Industrials          Industrial engineering              7,488   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              7,450   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 7,447   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Urban Logistics REIT               UK            Financials           Real estate investment trusts       7,259   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  7,242   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              7,206   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   7,153   0.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         Other Asia    Financials           Equity investment instruments       7,082   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            6,944   0.71 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Provident Financial                UK            Financials           Financial services                  6,916   0.71 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Glencore                           Switzerland   Basic Materials      Mining                              6,703   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 6,655   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Royal Mail                         UK            Industrials          Industrial transportation           6,606   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   6,556   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            6,300   0.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   6,246   0.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            6,202   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     6,030   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,895   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    5,889   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  5,813   0.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  5,710   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Unilever                           UK            Consumer Goods       Personal goods                      5,681   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            5,612   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       5,472   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Convatec Group                     UK            Health Care          Health care equipment & services    5,441   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    5,363   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  5,350   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Merck & Co                         USA           Health Care          Pharmaceuticals & biotechnology     5,147   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Euromoney                          UK            Consumer Services    Media                               5,040   0.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  4,933   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            4,840   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         4,748   0.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 4,517   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    4,476   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
iEnergizer                         Guernsey      Industrials          Support services                    4,391   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       4,356   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV PLC                            UK            Consumer Services    Media                               3,924   0.40 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 3,920   0.40 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,889   0.40 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    3,836   0.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 3,775   0.39 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   3,769   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  3,550   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     3,476   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,457   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    3,386   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   3,248   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               3,232   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  3,200   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Tehcnologies       UK            Technology            Technology                         3,105   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke DSM                    Netherlands   Basic Materials      Chemicals                           3,028   0.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reckitt Benckiser Group Plc        UK            Health Care          Health care equipment & services    3,005   0.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    2,938   0.30 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     2,694   0.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morses Club                        UK            Financials           Financial services                  2,506   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  2,477   0.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ONDINE BIOMEDICAL INC.             Canada        Health Care          Pharmaceuticals & biotechnology     2,208   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     2,049   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               2,040   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke KPN                    Netherlands   Telecommunications   Fixed Line Telecommunications       2,009   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        1,901   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 1,896   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,822   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 1,770   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,738   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Stellantis                         Netherlands   Consumer Goods       Automobiles & parts                 1,681   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  1,665   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           1,652   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           1,625   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Studio Retail Group                UK            Consumer Services    General retailers                   1,558   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       1,530   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Faurecia                           France        Consumer Goods       Automobiles & parts                 1,484   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GELION PLC                         Other         Other                Sustainable Energy                  1,470   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,394   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kion Group AG                      Germany       Industrials          Construction & materials            1,354   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,312   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,307   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 1,270   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prosus                             Netherlands   Technology           Software & computer services        1,263   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
CNH Industrial                     UK            Industrials          Industrial engineering              1,126   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               1,083   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     1,052   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           1,025   0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tullow Oil                         UK            Oil & Gas            Oil & gas producers                 996     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mirriad Advertising                UK            Consumer Services    Media                               950     0.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AB Skf                             Sweden        Industrials          Construction & materials            781     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Harbour Energy                     UK            Oil & Gas            Oil & gas producers                 672     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jackson Financial                  USA           Financials           Financial services                  666     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  468     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           403     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Unlisted                           UK            Financials           Financial services                  213     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         213     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Iveco Group                        Italy         Industrials          Industrial transportation           146     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Providence Resources               UK            Oil & Gas            Oil & gas producers                 100     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Better Cap                         UK            Financials           Equity investment instruments       25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Permanent TSB                      Ireland       Financials           Banks                               6 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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.

Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate, London, EC2N 4AG (contact Alison Skerritt, Company Secretariat, 020 7606 5451).

The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21

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END

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February 01, 2022 10:44 ET (15:44 GMT)

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