TIDMLWDB

RNS Number : 1646L

Law Debenture Corp PLC

01 September 2023

The Law Debenture Corporation p.l.c.

Net Asset Value as at 31 August 2023

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 August 2023 was 755.88 pence per share (cum income). With the Corporation's long term debt stated at fair value, the NAV was 789.20 pence per share (cum income). The mid-market price at the close of business on 31 August 2023 was 799.00 pence per share.

 
Net Asset Value               Excluding Income (pence)  Including Income (pence) 
NAV with debt at par                            749.38                    755.88 
                              ------------------------  ------------------------ 
NAV with debt at fair value                     782.70                    789.20 
                              ------------------------  ------------------------ 
 

Performance

 
                                                  YTD  1 year  3 years  5 years  10 years 
                                                    %       %        %        %         % 
NAV total return (with debt at par) (2)           4.0     6.7     45.1     30.6     115.7 
------------------------------------------------  ---  ------  -------  -------  -------- 
NAV total return (with debt at fair value) (2)    5.7    10.4     62.7     41.4     129.8 
------------------------------------------------  ---  ------  -------  -------  -------- 
FTSE Actuaries All-Share Index Total Return (3)   2.7     5.2     34.9     18.4      70.6 
------------------------------------------------  ---  ------  -------  -------  -------- 
Share price total return (3)                      5.7    13.1     67.3     61.0     135.8 
------------------------------------------------  ---  ------  -------  -------  -------- 
Change in Retail Price Index (4)                  3.8     8.4     27.6     31.7      49.1 
------------------------------------------------  ---  ------  -------  -------  -------- 
 

(1) The fair value of the IPS business has been calculated as at 30 June 2023.

(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) Share Price source: Refinitiv.

(4) Source: Office for National Statistics, subject to latest published RPI, July 2023.

Geographical Split of investment portfolio

 
Region           % of portfolio     % of portfolio     % of portfolio 
                 31 August 2023   31 December 2022   31 December 2021 
UK                         85.3               83.4               82.6 
Europe                      8.0               10.4               10.0 
North America               5.5                5.1                5.4 
Japan                       1.2                1.1                1.1 
Other                         0                  0                0.2 
Other Pacific                 0                  0                0.7 
TOTAL                       100                100                100 
                ---------------  -----------------  ----------------- 
 

Full Portfolio Listing

As at 31 August 2023 the full holdings of the portfolio comprised of the following:

 
Holding Name                       Location      Sector               Industry                            GBP000  % 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Shell                              UK            Oil & Gas            Oil & gas producers                 30,144  3.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BP                                 UK            Oil & Gas            Oil & gas producers                 27,788  3.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rolls Royce                        UK            Industrials          Aerospace & defence                 27,664  2.99 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
HSBC                               UK            Financials           Banks                               25,287  2.73 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Flutter Entertainment              UK            Consumer Services    Travel & leisure                    22,328  2.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
GlaxoSmithKline                    UK            Health Care          Pharmaceuticals & biotechnology     19,304  2.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Rio Tinto                          UK            Basic Materials      Mining                              18,272  1.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marks & Spencer                    UK            Consumer Services    General retailers                   18,136  1.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barclays                           UK            Financials           Banks                               18,125  1.97 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Senior                             UK            Industrials          Aerospace & defence                 15,357  1.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
NatWest                            UK            Financials           Banks                               14,976  1.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sanofi                             France        Health Care          Pharmaceuticals & biotechnology     14,391  1.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Tesco                              UK            Consumer Goods       Food & Drug Retailers               13,425  1.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Chartered                 UK            Financials           Banks                               13,419  1.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BAE Systems                        UK            Industrials          Aerospace & defence                 13,098  1.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
National Grid                      UK            Utilities            Gas, water & multiutilities         12,963  1.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Lloyds Banking Group               UK            Financials           Banks                               12,707  1.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hill & Smith                       UK            Industrials          Industrial engineering              11,914  1.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Ceres Power                        UK            Oil & Gas             distribution                       11,481  1.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Toyota Motor Corporation           Japan         Consumer Goods       Automobiles & parts                 11,223  1.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Morgan Advanced Materials          UK            Industrials          Electronic & electrical equipment   11,178  1.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Caterpillar                        USA           Industrials          Industrial engineering              11,091  1.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Land Securities                    UK            Financials           Real estate investment trusts       10,684  1.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Herald Investment Trust            UK            Financials           Equity investment instruments       10,608  1.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
M & G                              UK            Financials           Financial services                  10,491  1.14 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IMI                                UK            Industrials          Industrial engineering              10,326  1.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Irish Continental Group            Ireland       Consumer Services    Travel & leisure                    9,981   1.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DS Smith                           UK            Industrials          General industrials                 9,884   1.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Boku                               UK            Industrials          Support services                    9,858   1.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Aviva                              UK            Financials           Life insurance/assurance            9,652   1.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Dunelm                             UK            Consumer Services    General retailers                   9,645   1.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Accsys Technologies                UK            Industrials          Construction & materials            9,479   1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Kingfisher                         UK            Consumer Goods        construction                       9,476   1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Anglo American                     UK            Basic Materials      Mining                              9,450   1.03 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marshalls                          UK            Industrials          Construction & materials            9,260   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Severn Trent                       UK            Utilities            Gas, water & multiutilities         9,240   1.00 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Balfour Beatty                     UK            Industrials          Construction & materials            9,045   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Prudential Corp                    UK            Financials           Life insurance/assurance            9,024   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hiscox                             UK            Financials           Nonlife insurance                   9,018   0.98 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Direct Line Insurance              UK            Financials           Nonlife insurance                   8,751   0.95 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ITV                                UK            Consumer Services    Media                               8,671   0.94 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cummins                            USA           Industrials          Industrial engineering              8,529   0.93 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BT Group                           UK            Telecommunications   Fixed Line Telecommunications       8,377   0.91 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hipgnosis Songs Fund               UK            Financials           Equity investment instruments       8,072   0.88 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cranswick                          UK            Consumer Goods       Food producers                      8,053   0.87 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vodafone                           UK            Telecommunications   Mobile telecommunications           8,052   0.87 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Scottish Oriental Small Co         UK            Financials           Equity investment instruments       7,995   0.87 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Service Group              UK            Industrials          Support services                    7,815   0.85 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kier                               UK            Industrials          Construction & materials            7,314   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Phoenix Group Holdings             UK            Financials           Life insurance/assurance            7,294   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Elementis                          UK            Basic Materials      Chemicals                           7,262   0.79 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Babcock                            UK            Industrials          Aerospace & defence                 7,126   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Spectris                           UK            Industrials          Electronic & electrical equipment   7,066   0.77 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Mondi                              UK            Basic Materials      Forestry & paper                    6,899   0.75 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Applied Materials                  USA           Technology           Technology hardware & equipment     6,626   0.72 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Hammerson                          UK            Financials           Real estate investment trusts       6,458   0.70 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Haleon                             UK            Health Care          Pharmaceuticals & biotechnology     6,450   0.70 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reckitt Benckiser Group            UK            Health Care          Health care equipment & services    6,270   0.68 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Personal Finance     UK            Financials           Financial services                  6,180   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ibstock                            UK            Industrials          Construction & materials            6,170   0.67 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
AFC Energy                         UK            Oil & Gas            Alternative Energy                  6,045   0.66 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Halfords                           UK            Consumer Services    General retailers                   5,952   0.65 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Air Products and Chemicals         Canada        Oil & Gas            Oil & gas producers                 5,828   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Advanced Medical Equipment & 
Oxford Nanopore Technologies       UK            Technology            Technology                         5,804   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
IP Group                           UK            Financials           Financial services                  5,795   0.63 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Chesnara                           UK            Financials           Life insurance/assurance            5,676   0.62 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Consolidated 
 Airlines                          UK            Consumer Services    Travel & leisure                    5,569   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gibson Energy                      Canada        Oil & Gas            Oil & gas producers                 5,500   0.60 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
ITM Power                          UK            Oil & Gas             distribution                       5,149   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Oxford Sciences Innovation         UKULM         Financials           Financial services                  5,133   0.56 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
International Distribution 
 Services                          UK            Industrials          Industrial transportation           5,103   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Smith & Nephew                     UK            Health Care          Health care equipment & services    5,027   0.55 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
General Motors                     USA           Consumer Goods       Automobiles & parts                 5,022   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
TT Electronics                     UK            Industrials          Electronic & electrical equipment   4,992   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Standard Life Aberdeen             UK            Financials           Financial services                  4,962   0.54 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vanquis Banking Group              UK            Financials           Financial services                  4,930   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SSE                                UK            Utilities            Electricity                         4,880   0.53 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Vertu Motors                       UK            Consumer Services    General retailers                   4,690   0.51 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grit Real Estate Income Group      Guernsey      Financials           Real estate investment trusts       4,560   0.49 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bristol-Myers Squibb               USA           Health Care          Pharmaceuticals & biotechnology     4,378   0.48 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
i3 Energy                          UK            Oil & Gas            Oil & gas producers                 4,323   0.47 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Reach                              UK            Consumer Services    Media                               4,242   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ricardo                            UK            Industrials          Support services                    4,196   0.46 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Johnson Matthey                    UK            Other                Sustainable Energy                  4,075   0.44 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
VH Global Sustainable Energy 
 Opportunities                     UK            Other                Sustainable Energy                  3,970   0.43 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Jubilee Metals Group               UK            Basic Materials      Mining                              3,911   0.42 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Redde Northgate                    UK            Industrials          Support services                    3,747   0.41 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Weir Group                         UK            Industrials          Industrial engineering              3,668   0.40 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Epwin Group                        UK            Consumer Goods        construction                       3,476   0.38 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Next Fifteen Communications Group  UK            Consumer Services    Media                               3,394   0.37 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Nestle                             Switzerland   Consumer Goods       Food producers                      3,297   0.36 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Bellway                            UK            Consumer Goods        construction                       3,204   0.35 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Novo Nordisk                       Denmark       Health Care          Pharmaceuticals & biotechnology     3,165   0.34 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Plant Health Care                  USA           Basic Materials      Chemicals                           2,999   0.33 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Surface Transforms                 UK            Consumer Goods       Automobiles & parts                 2,954   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SigmaRoc                           UK            Industrials          Construction & materials            2,947   0.32 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Castings                           UK            Industrials          Construction & materials            2,726   0.30 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASML                               Netherlands   Technology           Technology hardware & equipment     2,683   0.29 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Roche                              Switzerland   Health Care          Pharmaceuticals & biotechnology     2,589   0.28 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Indus Gas                          UK            Oil & Gas            Oil & gas producers                 2,368   0.26 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SAP                                Germany       Technology           Software & computer services        2,293   0.25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Airbus SE                          Netherlands   Industrials          Aerospace & defence                 2,109   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Moncler                            Italy         Consumer Goods       Personal goods                      2,094   0.23 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Munchener Rueckver                 Germany       Financials           Nonlife insurance                   2,052   0.22 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Household goods & home 
Watkin Jones                       UK            Consumer Goods        construction                       1,970   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Safran SA                          France        Industrials          Aerospace & defence                 1,966   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LVMH                               France        Consumer Goods       Leisure Goods                       1,892   0.21 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Zoo Digital Group                  UK            Technology           Software & computer services        1,885   0.20 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Renold                             UK            Industrials          Industrial engineering              1,748   0.19 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Cellnex Telecom                    Spain         Telecommunications   Mobile telecommunications           1,623   0.18 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deutsche Boerse                    Germany       Financials           Financial services                  1,604   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
UniCredit                          Italy         Financials           Banks                               1,556   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Amundi                             France        Financials           Financial services                  1,537   0.17 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Inchcape                           UK            Industrials          Support services                    1,486   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
ASM International NV               Netherlands   Industrials          Electronic & electrical equipment   1,468   0.16 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Invinity Energy Systems            UK            Oil & Gas            Alternative Energy                  1,365   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
DSM-Firmenich AG                   Netherlands   Basic Materials      Chemicals                           1,346   0.15 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sig Combibloc                      Switzerland   Industrials          General industrials                 1,177   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Marstons                           UK            Consumer Services    Travel & leisure                    1,176   0.13 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arbuthnot Banking Group            UK            Financials           Financial services                  1,130   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Kistos                             UK            Oil & Gas            Oil & gas producers                 1,103   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Heineken NV                        Netherlands   Consumer Goods       Beverages                           1,096   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
EDP Renovaveis SA                  Spain         Other                Sustainable Energy                  1,070   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
BNP Paribas SA                     France        Financials           Banks                               1,066   0.12 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Danone SA                          France        Consumer Goods       Food producers                      1,053   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Logistics Development Group        UK            Industrials          Industrial transportation           1,048   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ilika                              UK            Oil & Gas            Alternative Energy                  1,040   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SGS SA                             Switzerland   Industrials          Support services                    1,007   0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allied Minds                       UK            Financials           Financial services                  971     0.11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Arkema SA                          France        Basic Materials      Chemicals                           861     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
First Tin                          UK            Basic Materials      Mining                              840     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Adidas                             Germany       Consumer Goods       Leisure Goods                       783     0.09 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Sartorius AG                       Germany       Health Care          Health care equipment & services    730     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Allfunds Group                     UK            Other                Other                               717     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
                                                                      Oil equipment services & 
Velocys                            UK            Oil & Gas             distribution                       715     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Grifols                            Spain         Health Care          Pharmaceuticals & biotechnology     705     0.08 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Longboat Energy                    UK            Oil & Gas            Oil & gas producers                 690     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Bawag                              Austria       Financials           Banks                               661     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Universal Music Group              Netherlands   Consumer Services    Media                               631     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Serica Energy                      UK            Oil & Gas            Oil & gas producers                 618     0.07 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Gelion                             UK            Other                Sustainable Energy                  571     0.06 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Brockhaus Capital Management       Germany       Financials           Financial services                  498     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Libertine Holdings                 UK            Other                Sustainable Energy                  473     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Deltic Energy                      UK            Oil & Gas            Oil & gas producers                 452     0.05 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Ondine Biomedical Inc.             Canada        Health Care          Pharmaceuticals & biotechnology     354     0.04 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
SIMEC Atlantis Energy              UK            Utilities            Electricity                         172     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Carclo                             UK            Basic Materials      Chemicals                           164     0.02 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
LDIC Investments                   UK            Financials           Financial services                  100     0.01 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Better Cap                         UK            Financials           Equity investment instruments       25 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Barryroe Offshore Energy           Ireland       Oil & Gas            Oil & gas producers                 11 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
Permanent TSB                      Ireland       Financials           Banks                               7 
---------------------------------  ------------  -------------------  ----------------------------------  ------  ---- 
 

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

September 01, 2023 08:30 ET (12:30 GMT)

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