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Edison review on Law Debenture Corporation

27 September 2017 08:24

Edison has issued review on The Law Debenture Corporation.

Edison said: 'The Law Debenture Corporation 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.'

At 8:24am: (LON:LWDB) Law Debenture Corporation the share price was +4.75p at 591.75p

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