REG - Law Debenture Corp - Net Asset Value(s)
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RNS Number : 5088G Law Debenture Corp PLC 01 June 2026
The Law Debenture Corporation p.l.c.
Net Asset Value as at 29 May 2026
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 May 2026 was 1,164.76 pence per share (cum income). With the
Corporation's long term debt stated at fair value, the NAV was 1,203.22 pence
per share (cum income). The mid-market price at the close of business on 29
May 2026 was 1,220.00 pence per share.
Net Asset Value Excluding Income (pence) Including Income (pence)
NAV with debt at par 1,145.95 1,164.76
NAV with debt at fair value 1,184.41 1,203.22
Performance
YTD 1 year 3 years 5 years 10 years
% % % % %
NAV total return (with debt at par)(2) 12.4 32.7 74.9 79.3 212.9
NAV total return (with debt at fair value)(2) 12.3 31.6 72.3 92.6 235.0
FTSE Actuaries All-Share Index Total Return(3) 6.5 21.6 53.6 67.0 134.6
Share price total return(3) 16.9 31.2 73.1 92.6 270.1
Change in Retail Price Index(4) 1.4 3.0 10.4 37.6 58.1
(1) The fair value of the IPS business has been calculated as at 31 December
2025.
(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: LSEG, London Stock Exchange Group.
(4) Source: Office for National Statistics, subject to latest published RPI,
April 2026.
Geographical Split of investment portfolio
Region % of portfolio % of portfolio
29 May 2026 31 December 2025
UK 90.0 89.9
Europe 5.4 4.5
North America 3.6 4.3
Japan 0.8 1.0
Other 0.2 0.3
Other Pacific 0 0
TOTAL 100 100
Full Portfolio Listing
As at 29 May 2026 the full holdings of the portfolio comprised of the
following:
Holding Name Location Sector Industry £000 %
HSBC UK Financials Banks 60,426 4.04
Barclays UK Financials Banks 53,122 3.55
Ceres Power UK Oil & Gas Oil equipment services & distribution 51,580 3.44
Rio Tinto UK Basic Materials Mining 41,832 2.80
Shell UK Oil & Gas Oil & gas producers 38,975 2.61
GlaxoSmithKline UK Health Care Pharmaceuticals & biotechnology 30,857 2.07
Standard Chartered UK Financials Banks 30,607 2.05
BP UK Oil & Gas Oil & gas producers 29,680 1.99
Infineon Technologies Germany Industrials Electronic & electrical equipment 25,017 1.67
ITM Power UK Oil & Gas Oil equipment services & distribution 22,054 1.48
Balfour Beatty UK Industrials Construction & materials 22,004 1.47
Rolls Royce UK Industrials Aerospace & defence 21,729 1.45
National Grid UK Utilities Gas, water & multiutilities 20,208 1.35
Lloyds Banking Group UK Financials Banks 19,333 1.29
Herald Investment Trust UK Financials Equity investment instruments 19,320 1.29
Anglo American UK Basic Materials Mining 19,318 1.29
IMI UK Industrials Industrial engineering 19,113 1.28
M & G UK Financials Financial services 18,948 1.27
Relx UK Consumer Services Media 18,620 1.25
Hill & Smith UK Industrials Industrial engineering 18,404 1.23
Flutter Entertainment UK Consumer Services Travel & leisure 17,357 1.16
Marks & Spencer UK Consumer Services General retailers 17,083 1.14
NatWest UK Financials Banks 17,077 1.14
BT Group UK Telecommunications Fixed Line Telecommunications 16,704 1.12
Prudential UK Financials Life insurance/assurance 16,437 1.10
Kingfisher UK Consumer Goods Household goods & home construction 15,955 1.07
J Sainsbury UK Consumer Services General retailers 15,852 1.06
Hiscox UK Financials Nonlife insurance 15,812 1.06
H-Power UK Oil & Gas Alternative Energy 15,786 1.06
Kier UK Industrials Construction & materials 15,784 1.06
Aviva UK Financials Life insurance/assurance 15,775 1.06
Land Securities UK Financials Real estate investment trusts 15,559 1.04
BAE Systems UK Industrials Aerospace & defence 15,165 1.02
International Consolidated Airlines UK Consumer Services Travel & leisure 14,785 0.99
IP Group UK Financials Financial services 14,746 0.99
Standard Life Aberdeen UK Financials Financial services 14,272 0.96
Irish Continental Group Ireland Consumer Services Travel & leisure 14,082 0.94
Johnson Matthey UK Other Sustainable Energy 13,780 0.92
Segro UK Financials Real estate investment trusts 13,364 0.89
Boku UK Industrials Support services 13,179 0.88
Shaftesbury Capital UK Financials Real estate investment trusts 13,008 0.87
Severn Trent UK Utilities Gas, water & multiutilities 12,911 0.86
Vodafone UK Telecommunications Mobile telecommunications 12,249 0.82
British Land Company UK Financials Real estate investment trusts 12,150 0.81
General Motors USA Consumer Goods Automobiles & parts 11,757 0.79
Toyota Motor Corporation Japan Consumer Goods Automobiles & parts 11,702 0.78
ITV UK Consumer Services Media 11,501 0.77
Morgan Advanced Materials UK Industrials Electronic & electrical equipment 11,500 0.77
London Stock Exchange Group UK Financials Financial services 11,275 0.75
Hammerson UK Financials Real estate investment trusts 10,988 0.74
Babcock UK Industrials Aerospace & defence 10,981 0.74
Standard Life UK Financials Life insurance/assurance 10,864 0.73
Reckitt Benckiser Group UK Consumer Goods Household goods & home construction 10,789 0.72
Johnson Service Group UK Industrials Support services 10,450 0.70
VH Global Energy Infrastructure UK Other Sustainable Energy 10,416 0.70
Chesnara UK Financials Life insurance/assurance 10,272 0.69
Invinity Energy Systems UK Oil & Gas Alternative Energy 10,116 0.68
Greencoat UK Wind UK Utilities Electricity 10,080 0.67
Freeport-McMoran USA Basic Materials Mining 9,762 0.65
Oxford Nanopore Technologies UK Technology Advanced Medical Equipment & Technology 9,581 0.64
Associated British Foods UK Consumer Goods Food producers 9,563 0.64
HICL Infrastructure UK Financials Equity investment instruments 9,366 0.63
SSE UK Utilities Electricity 9,320 0.62
Smith & Nephew UK Health Care Health care equipment & services 9,110 0.61
Convatec Group UK Health Care Health care equipment & services 9,090 0.61
Marshalls UK Industrials Construction & materials 8,817 0.59
Sabre Insurance Group UK Financials Nonlife insurance 8,717 0.58
Scottish Oriental Smaller Companies Trust UK Financials Equity investment instruments 8,562 0.57
Accsys Technologies UK Industrials Construction & materials 8,561 0.57
Inchcape UK Industrials Support services 8,455 0.57
Unilever UK Consumer Goods Personal goods 8,410 0.56
Ibstock UK Industrials Construction & materials 8,189 0.55
SigmaRoc UK Industrials Construction & materials 7,947 0.53
Zigup UK Industrials Support services 7,819 0.52
Workspace Group UK Financials Real estate investment trusts 7,626 0.51
Elementis UK Basic Materials Chemicals 7,510 0.50
Weir Group UK Industrials Industrial engineering 7,338 0.49
Vanquis Banking Group UK Financials Financial services 7,299 0.49
Whitbread UK Consumer Services Travel & leisure 7,279 0.49
Ondine Biomedical Canada Health Care Pharmaceuticals & biotechnology 7,256 0.49
Gibson Energy Canada Oil & Gas Oil & gas producers 7,134 0.48
Bristol-Myers Squibb USA Health Care Pharmaceuticals & biotechnology 7,007 0.47
Berkeley Group Holdings UK Consumer Goods Household goods & home construction 6,884 0.46
Sanofi France Health Care Pharmaceuticals & biotechnology 6,879 0.46
Dunelm UK Consumer Services General retailers 6,868 0.46
Haleon UK Health Care Pharmaceuticals & biotechnology 6,732 0.45
3I INFRASTRUCTURE UK Financials Equity investment instruments 6,466 0.43
Roche Holding Switzerland Health Care Pharmaceuticals & biotechnology 6,072 0.41
Halfords UK Consumer Services General retailers 5,659 0.38
Mondi UK Basic Materials Forestry & paper 5,657 0.38
Oxford Sciences Innovation UKULM Financials Financial services 5,633 0.38
Great Portland Estates UK Financials Real estate investments & services 5,467 0.37
Becton Dickinson USA Health Care Health care equipment & services 5,464 0.37
Safran France Industrials Aerospace & defence 5,375 0.36
Croda UK Basic Materials Chemicals 5,320 0.36
XP Power UK Technology Technology hardware & equipment 5,239 0.35
Air Products and Chemicals Canada Oil & Gas Oil & gas producers 5,177 0.35
Serica Energy UK Oil & Gas Oil & gas producers 4,996 0.33
Rathbones Group UK Financials Equity investment instruments 4,945 0.33
Vertu Motors UK Consumer Services General retailers 4,832 0.32
Rotork UK Industrials Construction & materials 4,596 0.31
Derwent London UK Financials Real estate investment trusts 4,445 0.30
Castings UK Industrials Construction & materials 4,165 0.28
Bellway UK Consumer Goods Household goods & home construction 4,126 0.28
TT Electronics UK Industrials Electronic & electrical equipment 4,073 0.27
Ilika UK Oil & Gas Alternative Energy 3,994 0.27
Easyjet UK Industrials Aerospace & defence 3,980 0.27
ASML Netherlands Technology Technology hardware & equipment 3,875 0.26
Breedon Group UK Basic Materials Building Materials 3,826 0.26
Tate & Lyle UK Consumer Goods Food producers 3,773 0.25
Siemens Germany Technology Software & computer services 3,728 0.25
Marstons UK Consumer Services Travel & leisure 3,686 0.25
Gelion UK Other Sustainable Energy 3,673 0.25
Greencore Group Ireland Consumer Goods Beverages 3,670 0.25
Valterra Platinum Other Basic Materials Mining 3,474 0.23
Reach UK Consumer Services Media 3,133 0.21
Next Fifteen Communications Group UK Consumer Services Media 2,885 0.19
Jubilee Metals Group UK Basic Materials Mining 2,745 0.18
Seascape Energy Asia UK Oil & Gas Oil & gas producers 2,670 0.18
Renishaw UK Technology Technology hardware & equipment 2,648 0.18
Munchener Rueckver Germany Financials Nonlife insurance 2,620 0.18
Deutsche Boerse Germany Financials Financial services 2,509 0.17
SAP Germany Technology Software & computer services 1,977 0.13
Grit Real Estate Income Group Guernsey Financials Real estate investment trusts 1,752 0.12
ASM International Netherlands Industrials Electronic & electrical equipment 1,718 0.11
Hercules Site Services UK Industrials Construction & materials 1,512 0.10
First Tin UK Basic Materials Mining 1,440 0.10
Arbuthnot Banking Group UK Financials Financial services 1,370 0.09
Watkin Jones UK Consumer Goods Household goods & home construction 1,364 0.09
Princes Group UK Consumer Goods Food & Drug Retailers 1,240 0.08
Kistos UK Oil & Gas Oil & gas producers 1,215 0.08
Kone Finland Industrials Electronic & electrical equipment 992 0.07
DSM-Firmenich Netherlands Basic Materials Chemicals 943 0.06
Windar Photonics UK Industrials Waste & Environ Svcs & Equip 882 0.06
Gran Tierra Energy Canada Oil & Gas Oil & gas producers 851 0.06
Logistics Development Group UK Industrials Industrial transportation 800 0.05
Carclo UK Basic Materials Chemicals 790 0.05
Ampeak Energy UK Utilities Electricity 416 0.03
Deltic Energy UK Oil & Gas Oil & gas producers 103 0.01
Surface Transforms UK Consumer Goods Automobiles & parts 85 0.01
In accordance with UK listing rule 11.7.8, The Law Debenture Corporation
p.l.c. announces that it has no investments in other UK listed closed-ended
investment funds that require to be disclosed.
Released by The Law Debenture Corporation p.l.c., 8th Floor, 100 Bishopsgate,
London, EC2N 4AG (contact Nicola Lambourne, Company Secretariat, 020 7606
5451).
The Law Debenture Corporation p.l.c. LEI number - 2138006E39QX7XV6PP21
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