Edison issues review on Law Debenture Corporation

RNS Number : 8935R

Law Debenture Corp PLC

26 September 2017

 

London, UK, 26 September 2017

Edison issues review on The Law Debenture Corporation (LWDB)

The Law Debenture Corporation (LWDB) is differentiated by being both an investment trust with a diversified portfolio of global equities and a leading provider of independent professional services through its IPS subsidiaries. The bottom-up managed portfolio is globally diversified with a strong bias towards UK equities. IPS is highly profitable, regularly providing revenue earnings well ahead of its share of NAV, supporting a strong track record of dividend growth and allowing greater flexibility within the portfolio to pursue high-return but lower yield investments. LWDB is benchmarked against the FTSE All-Share index, which it has outperformed over one, three, five and 10 years. Ongoing charges are competitive and the 2.8% yield is one of the highest in the sector.

At 7.8%, LWDB's share price discount to fair value cum-income NAV has narrowed since the first time publication of an IPS fair value in early 2016, but remains above the peer group average. A 2.8% dividend yield ranks third highest among the sector's 24 trusts, providing support for a potential discount narrowing.

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