TIDMLWDB

RNS Number : 4937U

Law Debenture Corp PLC

01 August 2022

The Law Debenture Corporation p.l.c.

Net Asset Value as at 29 July 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 29 July 2022 was 768.85 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 766.33 pence per share (cum income). The mid-market price at the close of business on 29 July 2022 was 776.00 pence per share.

The NAV has been updated to reflect the change in the valuation of the IPS business, as reported in the 2022 Half Year Report.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            756.03                    768.85 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     753.51                    766.33 
                              ------------------------  ------------------------ 
 

Performance

 
                                                   YTD  1 year  3 years  5 years  10 years 
                                                     %       %        %        %         % 
NAV total return (with debt at par) (2)           -5.4     0.1     26.5     37.6     159.8 
------------------------------------------------  ----  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    -0.8     4.4     32.9     43.8     162.1 
------------------------------------------------  ----  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   -0.4     5.5      9.9     21.5     100.4 
------------------------------------------------  ----  ------  -------  -------  -------- 
Share price total return (3)                      -1.8     4.7     45.3     58.9     177.1 
------------------------------------------------  ----  ------  -------  -------  -------- 
Change in Retail Price Index (4)                   7.0    11.8     17.4     24.9      40.6 
------------------------------------------------  ----  ------  -------  -------  -------- 
 

(1) The fair value of the IPS business has been calculated as at 30 June 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, June 2022.

Geographical Split of investment portfolio

 
Region          % of portfolio     % of portfolio     % of portfolio 
                  29 July 2022   31 December 2021   31 December 2020 
UK                        84.4               82.6               82.1 
Europe                     8.9               10.0               10.1 
North America              5.5                5.4                5.4 
Japan                      1.2                1.1                1.1 
Other                                         0.2                0.4 
Other Pacific                                 0.7                0.9 
TOTAL                      100                100                100 
                --------------  -----------------  ----------------- 
 

Full Portfolio Listing

As at 29 July 2022 the full holdings of the portfolio comprised of the following:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell                              UK            Oil & Gas            Oil & gas producers                 27,238  3.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     23,150  2.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 22,797  2.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               22,273  2.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               19,333  2.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              18,463  2.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               17,402  1.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         14,813  1.65 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               13,925  1.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 13,860  1.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               13,572  1.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   13,536  1.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              13,273  1.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   13,184  1.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 12,388  1.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    12,339  1.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  11,726  1.31 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           11,476  1.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     11,431  1.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         11,358  1.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       11,138  1.24 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 10,875  1.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               10,639  1.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       10,476  1.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            10,187  1.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       10,109  1.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   9,898   1.10 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            9,675   1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher                         UK            Consumer Goods        construction                       9,567   1.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            9,396   1.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 9,242   1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DS Smith                           UK            Industrials          General industrials                 9,219   1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       9,151   1.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       8,954   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              8,746   0.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              8,549   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    8,523   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            8,492   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 8,435   0.94 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Convatec Group                     UK            Health Care          Health care equipment & services    8,390   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              8,159   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Caterpillar                        USA           Industrials          Industrial engineering              8,152   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       8,140   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   8,074   0.90 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  7,867   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 7,848   0.87 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            7,751   0.86 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     7,583   0.84 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    7,358   0.82 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reckitt Benckiser Group            UK            Health Care          Health care equipment & services    7,311   0.81 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Haleon                             UK            Health Care          Pharmaceuticals & biotechnology     7,147   0.80 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cranswick                          UK            Consumer Goods       Food producers                      7,134   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   7,055   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              7,039   0.78 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    7,038   0.78 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         UK            Financials           Equity investment instruments       6,831   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            6,822   0.76 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   6,607   0.74 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           6,387   0.71 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Centrica                           UK            Utilities            Gas, water & multiutilities         6,358   0.71 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Merck & Co                         USA           Health Care          Pharmaceuticals & biotechnology     6,244   0.70 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            6,207   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            6,156   0.69 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
iEnergizer                         Guernsey      Industrials          Support services                    6,030   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Unilever                           UK            Consumer Goods       Personal goods                      6,005   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bayer AG                           Germany       Health Care          Pharmaceuticals & biotechnology     5,992   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Royal Mail                         UK            Industrials          Industrial transportation           5,937   0.66 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       5,828   0.65 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 5,664   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            5,471   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 5,452   0.61 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  5,375   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kistos                             UK            Oil & Gas            Oil & gas producers                 5,350   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         5,304   0.59 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  5,167   0.58 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   5,125   0.57 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Britishvolt Limited                UKULM         Other                Sustainable Energy                  5,000   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   4,998   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  4,980   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    4,923   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Provident Financial                UK            Financials           Financial services                  4,757   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    4,726   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  4,714   0.52 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  4,480   0.50 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       4,313   0.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    4,278   0.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    4,082   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV                                UK            Consumer Services    Media                               4,045   0.45 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 3,981   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       3,960   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   3,929   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    3,427   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,339   0.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            3,281   0.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           2,943   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reach                              UK            Consumer Services    Media                               2,897   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke DSM                    Netherlands   Basic Materials      Chemicals                           2,858   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      2,832   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,578   0.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     2,536   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     2,463   0.27 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Technologies       UK            Technology            Technology                         2,356   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Glencore                           Switzerland   Basic Materials      Mining                              2,305   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Koninklijke KPN                    Netherlands   Telecommunications   Fixed Line Telecommunications       2,206   0.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     2,098   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  1,952   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,920   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 1,778   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  1,767   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    1,756   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gelion                             UK            Other                Sustainable Energy                  1,746   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               1,683   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  1,600   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,598   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      1,589   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ondine Biomedical Inc.             Canada        Health Care          Pharmaceuticals & biotechnology     1,583   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 1,526   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,524   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LVMH                               France        Consumer Goods       Leisure Goods                       1,476   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,435   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,420   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,414   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        1,292   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EDP Renovaveis SA                  Spain         Other                Sustainable Energy                  1,277   0.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       1,166   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           1,156   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deutsche Boerse                    Germany       Financials           Financial services                  1,109   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
CNH Industrial                     UK            Industrials          Industrial engineering              1,105   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 1,080   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kion Group AG                      Germany       Industrials          Construction & materials            1,069   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sartorius AG                       Germany       Health Care          Health care equipment & services    1,063   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Airbus SE                          Netherlands   Industrials          Aerospace & defence                 1,051   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Universal Music Group              Netherlands   Consumer Services    Media                               1,035   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           1,033   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tullow Oil                         UK            Oil & Gas            Oil & gas producers                 1,027   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               814     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
First Tin                          UK            Basic Materials      Mining                              795     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     702     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Harbour Energy                     UK            Oil & Gas            Oil & gas producers                 686     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jackson Financial                  USA           Financials           Financial services                  527     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mirriad Advertising                UK            Consumer Services    Media                               422     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  404     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         325     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morses Club                        UK            Financials           Financial services                  279     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           245     0.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Providence Resources               UK            Oil & Gas            Oil & gas producers                 126     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LDIC Investments                   UK            Financials           Financial services                  100     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EuroAPI Sasu                       France        Health Care          Pharmaceuticals & biotechnology     84      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

August 01, 2022 09:42 ET (13:42 GMT)

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