Discover Law Debenture’s unique proposition

At Law Debenture we are focused on providing peace of mind for shareholders and our wider communities, and we have been since 1889. Our objective is to achieve long-term capital growth in real terms and steadily increasing income.

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What sets us apart? : Uniquely diversified

Our unique structure has been key to our strong long-term performance. We are a UK income investment trust underpinned by an independent professional services business. Shareholders benefit from significant, consistent income contribution and our fund managers have greater flexibility in stock selection.

Our 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 Total Return through investing in a diversified portfolio of stocks.

We have grown or maintained our dividend for each of the last 45 years through our value driven, diversified portfolio managed by James Henderson and Laura Foll of Janus Henderson Investors.

Did you know?

Did you know?

£10,000 invested in Law Debenture 25 years ago would be worth £86,211 today versus £42,356 for the UK equity income sector average (capital growth and dividends) as at 16th December 2024. ^{Source LSEG Workspace.}

Past performance is not a guide to future performance and that the value of an investment and the income derived from it can fall as well as rise and that you may not get back the amount originally invested

We think long term : Our investment approach, explained

We take a bottom up approach, spending a great deal of time with the management teams of our portfolio companies and conducting detailed analysis of the strengths, weaknesses and long term growth prospects of those companies into which we invest your money. We continue to identify organisations which are not trading at fair value or with respect of the long term prospects for the business.

It also allows us to invest in businesses which have great long term qualities but for various reasons may have hit a bump in the road. We will buy stocks that are slightly unfashionable but that we believe have a significant potential for growth. They will typically be world class brands selling globally, that have fallen out of favour.

We are patient with our positions and invest for the long term. We build up positions gradually - having taken the decision to invest in a stock we would typically begin by investing around 30bps, which we add to over time dependent upon the risk profile of an individual stock. Our long list of stocks allows us to moderate our position size where we perceive the investment case is higher risk than may be the case elsewhere in the Portfolio. This means that we take a risk based approach to our position sizing, while ensuring that if we get something right the sizing is sufficient to move the dial on the Portfolio performance as a whole.

Read our strategy guidelines

Take a closer look : Our performance

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Please note that past performance is not a guide to future performance and that the value of an investment and the income derived from it can fall as well as rise and that you may not get back the amount originally invested.

We take the time to get to know companies, identifying those that have real potential in order to deliver long term capital growth and steadily increasing income for our shareholders.

James Henderson, Joint Portfolio Manager