TIDMLWDB

RNS Number : 9205D

Law Debenture Corp PLC

07 March 2022

The Law Debenture Corporation p.l.c.

Net Asset Value as at 4 March 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 4 March 2022 was 758.99 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 735.38 pence per share (cum income). The mid-market price at the close of business on 4 March 2022 was 741.00 pence per share. The final dividend of 8.375p will be paid on 14 April 2022 to shareholders on the register at the record date of 11 March 2022. The NAV has been updated for the fair value of the IPS business at 31 December 2021 in line with the annual results announcement.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            752.46                    758.99 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     728.85                    735.38 
                              ------------------------  ------------------------ 
 

Performance

 
                                                   YTD  1 year  3 years  5 years  10 years 
                                                     %       %        %        %         % 
NAV total return (with debt at par) (2)           -8.4     8.4     29.2     40.2     151.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    -6.7    10.5     30.1     42.6     146.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   -7.3     5.7     10.6     17.5      81.1 
------------------------------------------------  ----  ------  -------  -------  -------- 
Share price total return (3)                      -7.3     6.9     43.7     56.1     171.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
Change in Retail Price Index (4)                   0.0     7.8     12.3     19.7      33.5 
------------------------------------------------  ----  ------  -------  -------  -------- 
 

(1) The fair value of the IPS business has been calculated as at 31 December 2021 and was published as part of the annual results announcement on 25 February 2022.

(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, January 2022.

Geographical Split of investment portfolio

 
Region          % of portfolio     % of portfolio     % of portfolio 
                  4 March 2022   31 December 2021   31 December 2020 
UK                        81.5               82.6               82.1 
Europe                     9.6               10.0               10.1 
North America              5.0                5.4                5.4 
Japan                      1.2                1.1                1.1 
Other                      0.2                0.2                0.4 
Other Pacific              2.5                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 4 March 2022 the portfolio comprised as follows:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     24,934  2.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell plc                          UK            Oil & Gas            Oil & gas producers                 22,918  2.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              22,605  2.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               20,278  2.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 19,845  2.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              17,224  1.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               16,932  1.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         15,608  1.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BHP Group                          Australia     Basic Materials      Mining                              15,260  1.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         14,365  1.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Relx                               UK            Consumer Services    Media                               13,554  1.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            13,093  1.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   13,015  1.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            12,991  1.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               12,909  1.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               12,811  1.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               12,656  1.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 12,449  1.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   12,128  1.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           11,729  1.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       10,921  1.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 10,723  1.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Linde                              Germany       Basic Materials      Chemicals                           10,514  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 10,494  1.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       10,476  1.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       10,466  1.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     10,154  1.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            10,134  1.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  9,974   1.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher plc                     UK            Consumer Goods        construction                       9,881   1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   9,586   1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       9,188   1.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               8,846   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   8,599   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 8,527   0.96 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith (DS)                         UK            Industrials          General industrials                 8,377   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       8,337   0.94 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Centrica                           UK            Utilities            Gas, water & multiutilities         8,188   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       8,159   0.92 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       8,146   0.92 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Glencore                           Switzerland   Basic Materials      Mining                              8,061   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              8,015   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Urban Logistics REIT               UK            Financials           Real estate investment trusts       7,591   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   7,490   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    7,408   0.84 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Caterpillar                        USA           Industrials          Industrial engineering              7,396   0.84 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  7,316   0.83 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    7,293   0.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              7,182   0.81 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              7,047   0.80 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 7,000   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            6,922   0.78 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         Other Asia    Financials           Equity investment instruments       6,705   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     6,554   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              6,545   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    6,401   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       6,371   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 6,089   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           6,082   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            6,065   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    5,999   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    5,828   0.66 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Euromoney                          UK            Consumer Services    Media                               5,713   0.65 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 5,656   0.64 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,614   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Convatec Group                     UK            Health Care          Health care equipment & services    5,503   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reckitt Benckiser Group Plc        UK            Health Care          Health care equipment & services    5,490   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  5,420   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  5,380   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  5,371   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Provident Financial                UK            Financials           Financial services                  5,362   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Royal Mail                         UK            Industrials          Industrial transportation           5,292   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   5,223   0.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            5,162   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Unilever                           UK            Consumer Goods       Personal goods                      5,115   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            5,107   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   5,072   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            5,007   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Merck & Co                         USA           Health Care          Pharmaceuticals & biotechnology     5,001   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  4,933   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         4,785   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   4,690   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 4,586   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
iEnergizer                         Guernsey      Industrials          Support services                    4,441   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  4,357   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       4,356   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    4,245   0.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    4,074   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,893   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 3,844   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            3,765   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV PLC                            UK            Consumer Services    Media                               3,763   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     3,354   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   3,277   0.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    3,126   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke DSM                    Netherlands   Basic Materials      Chemicals                           2,892   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              2,858   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  2,800   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  2,688   0.30 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    2,535   0.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,518   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Tehcnologies       UK            Technology            Technology                         2,502   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    2,497   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     2,397   0.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     2,157   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GELION PLC                         Other         Other                Sustainable Energy                  2,129   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ONDINE BIOMEDICAL INC.             Canada        Health Care          Pharmaceuticals & biotechnology     2,125   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               2,079   0.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke KPN                    Netherlands   Telecommunications   Fixed Line Telecommunications       2,024   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           2,001   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,964   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  1,721   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 1,659   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        1,642   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,480   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 1,470   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,462   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,449   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Stellantis                         Netherlands   Consumer Goods       Automobiles & parts                 1,330   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,296   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           1,258   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,206   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       1,178   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,159   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kion Group AG                      Germany       Industrials          Construction & materials            1,107   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           1,102   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tullow Oil                         UK            Oil & Gas            Oil & gas producers                 1,057   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
CNH Industrial                     UK            Industrials          Industrial engineering              1,031   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 995     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Faurecia                           France        Consumer Goods       Automobiles & parts                 967     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mirriad Advertising                UK            Consumer Services    Media                               950     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prosus                             Netherlands   Technology           Software & computer services        807     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               788     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     780     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Harbour Energy                     UK            Oil & Gas            Oil & gas producers                 741     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morses Club                        UK            Financials           Financial services                  740     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jackson Financial                  USA           Financials           Financial services                  676     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  460     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AB Skf                             Sweden        Industrials          Construction & materials            432     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           276     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         208     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Unlisted                           UK            Financials           Financial services                  100     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Iveco Group                        Italy         Industrials          Industrial transportation           97      0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Providence Resources               UK            Oil & Gas            Oil & gas producers                 80      0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Better Cap                         UK            Financials           Equity investment instruments       25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Permanent TSB                      Ireland       Financials           Banks                               4 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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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(END) Dow Jones Newswires

March 07, 2022 11:50 ET (16:50 GMT)

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