The Law Debenture Corporation is a London listed investment trust.
The Law Debenture Corporation is founded as a limited company to facilitate the issue of corporate debentures.
The Corporation was established by a group of prominent businessmen, politicians and lawyers, with many of the founders of leading professional firms appearing on the list of original shareholders. This list includes Edwin Waterhouse of Price Waterhouse, now PwC.
The investment objective is to achieve long term capital growth in real terms and steadily increasing income. The aim is to achieve a higher rate of total return than the FTSE Actuaries All Share Index through investing in a diversified portfolio of stocks.
It has grown or maintained for each of the last 40 years consecutively.
The portfolio is typically diversified across approximately 140 stocks, mainly UK focused (typically 66% FTSE, 33% small and mid-cap) with the remaining holdings distributed across North America, Europe, Asia and rest of world where opportunities arise to build positions in organisations with an attractive profile. It holds no sector allocation constraints facilitating rotation into sectors which offer best long term value.
The portfolio turnover is low. Our patient approach, allowing for the realisation of fair value, has enabled it to outperform our benchmark significantly.
Top Ten Equity Holdings:-
GlaxoSmithKline 2.7% of the fund
Barclays 2.1% of the fund
Royal Dutch Shell 2.1% of the fund
BP 2.0% of the fund
HSBC 1.9% of the fund
Rio Tinto 1.8% of the fund
Accsys Technologies 1.6% of the fund
Ceres Power 1.6% of the fund
Severn Trent 1.5% of the fund
Marks & Spencer 1.5% of the fund