The Law Debenture Corporation: A highly differentiated and unique investment proposition. Presentation by Denis Jackson, CEO and James Henderson, joint portfolio manager

Published on 21 May 2021

The Law Debenture Corporation (LWDB) combines two distinct, but highly complementary components: independent professional services (IPS), 17% of NAV and investment portfolio, 83% of NAV.

• IPS has resilient businesses operating in growth markets.
• IPS revenues fund more than 33% of LWDB’s dividends, now paid quarterly.
• Investment portfolio mainly UK. Overseas stocks used selectively where there is no UK equivalent.
• IPS revenues give greater flexibility in stock selection to achieve dividend target.
• Portfolio invests across large, mid- and small-cap companies.
• LWDB has outperformed its benchmark over one, three, five and 10 years.

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