Edison issues review on Lowland Investment Company

RNS Number : 5888U

Lowland Investment Co PLC

25 October 2017

 

London, UK, 25 October 2017

Edison issues review on Lowland Investment Company (LWI)

Lowland Investment Company (LWI) invests across the UK stock market with the aim of providing attractive capital and income returns for its investors. Managed by James Henderson and Laura Foll at Janus Henderson Investors, LWI's portfolio is diversified over more than 100 stocks, allowing the managers to back undervalued and recovery situations over the long term by starting with small positions to limit downside risk. An example of such a stock is insurance company Hiscox, bought in the aftermath of the collapse of the Lloyd's insurance syndicates, since when its market capitalisation has increased from £40m to c £4bn. Holdings such as this have helped LWI to outperform its FTSE All-Share Index benchmark (in NAV total return terms) over one, three, five and 10 years, and since James Henderson began managing the portfolio in 1990.

At 23 October 2017, LWI's shares traded at a 7.6% discount to cum-income NAV (with debt at market value). While this is wider than the averages over one, three, five and 10 years (a range of 2.2% to 5.9%), it has stabilised markedly in the past six months after a period of higher volatility, without the need for any discount management by the board. Based on the last four dividends, LWI currently has a dividend yield of 3.2%.  

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