Law Debenture Corporation discusses sector move in solid H1 showing – The £700m market cap trust, Law Debenture Corporation (LWDB), has reported half-year results covering the period to 30 June 2019. The NAV total return for the period was 10.3%, while the shares returned 12.1%. For those not familiar with its structure, LWDB is a unique combination of an equity portfolio and independent professional services business.
FTSE 250 admission and AIC sector move
Over the six-month period, LWDB was admitted to the FTSE 250 and moved sector (to UK equity income) as part of the Association of Investment Companies’ (AIC) wider review of classifications. Commenting on these moves, Robert Hingley, LWDB’s chairman, said: “Law Debenture was admitted to the FTSE 250 on 1 April 2019, facilitated in part by continued long-term capital growth. May saw the re-positioning of the trust from the AIC’s global sector to the UK Equity Income sector, reflecting the fact that Law Debenture has for many years had a predominantly UK portfolio. We believe this move will make comparisons of relative performance easier for shareholders.”
QuotedData’s James Carthew wrote an article for Citywire, discussing the sector move, which you can access here.
LWDB: Law Debenture Corporation discusses sector move in solid H1 showing