For financial professionals in the UK

LWI Lowland Investment Company plc

A growth and income trust with a diversified portfolio of mainly UK equities and a strong dividend track record


Share price
As of 21/01/22

Estimated NAV
As of 21/01/22

Discount / Premium
As of 21/01/22

As of 21/01/22

Morningstar ratings are based on the representative share class of this fund and are dated to the last month-end upon availability from Morningstar.



The Company aims to give shareholders a higher than average return with growth of both capital and income over the medium to long term. The Company’s policy is to invest in a broad spread of predominantly UK companies of differing sizes with normally not more than half by value coming from the largest 100 UK companies and the balance from small and medium sized companies.
The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Potential investors must read the latest annual report and where relevant, the key investor information document before investing. This website is for promotional purposes and does not qualify as an investment recommendation.


  • Investing for the long term across all sizes of British business
  • Seeking to deliver a predictable, growing income for shareholders
  • Integrating environmental, social and governance factors throughout the investment process
Past performance is not a guide to future performance. 

Knowledge Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge Shared.


  • Due to renewed and extended guidelines from the UK Government, the Board strongly encourage shareholders to appoint the Chairman as their proxy to vote their shares at the forthcoming AGM, and to stay at home rather than attend in person.  Zoom functionality has been added to allow shareholders to attend and ask any questions.  Please use the following link to register for the zoom webinar and to see the Fund Managers’ presentation.
  • The latest announcements for this Trust can be found on the London Stock Exchange website.
  • View Lowland’s 2021 Annual Results.
  • A dividend of 15.25p has been recommended to shareholders for approval at the Annual General Meeting in 2022.


LWI dividend chart 2020
  • Pays its dividends quarterly, with each quarterly dividend being maintained or increased since they were introduced in 2013
  • The dividend on an annual basis has been maintained or increased since the Trust was founded
  • Barring adverse circumstances, each quarterly dividend aims to be no less than the previous equivalent



James Henderson

Director of UK Investment Trusts | Portfolio Manager

Industry since 1982. Joined Firm in 1984.

Laura Foll, CFA

Portfolio Manager

Industry since 2009. Joined Firm in 2009.


Past performance is not a guide to future performance.
Discrete Performance (%)
As of 31/12/21
Price Net Asset Value
Quarter End
As of 31/12/21
2020/2021 2019/2020 2018/2019 2017/2018 2016/2017
Price 16.30 -11.00 14.20 -11.30 16.50
Net Asset Value 23.85 -15.09 16.94 -15.00 16.16
Cumulative Performance (%)
As of 21/01/22
Price (Net) NAV (Net)
As of 21/01/22 1MO 3MO YTD 1YR 3YR 5YR 10YR
Price (Net) 4.60 4.60 2.63 17.17 16.11 24.40 140.20
NAV (Net) 4.00 3.99 0.97 20.57 18.20 19.77 135.58
Ex Dividend Date Pay Date Amount div p/ps
30-Dec-21 31-Jan-22 15.25
30-Sep-21 29-Oct-21 15.00
01-Jul-21 30-Jul-21 15.00
01-Apr-21 30-Apr-21 15.00
24-Dec-20 29-Jan-21 15.00
01-Oct-20 30-Oct-20 15.00
02-Jul-20 31-Jul-20 15.00
02-Apr-20 30-Apr-20 15.00
02-Jan-20 31-Jan-20 15.00
03-Oct-19 31-Oct-19 15.00
04-Jul-19 31-Jul-19 15.00
04-Apr-19 30-Apr-19 14.50


Top Holdings (As of 30/11/21)
% of Fund
GlaxoSmithKline 2.58
Royal Dutch Shell 2.55
Severn Trent 2.50
Phoenix Group 2.48
Morgan Advanced Materials 1.97
Direct Line Insurance Group 1.91
National Grid 1.90
RELX 1.89
HSBC 1.87
BP 1.84
View full holdings
Sector Allocation % OF FUND % OF FUND (As of 31/12/21)
Country/Geographic Exposures % OF FUND % OF FUND (As of December 31, 2021)


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  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance is not a guide to future performance.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • If a trust's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio diversified across more countries.
  • Some of the investments in this portfolio are in smaller companies shares. They may be more difficult to buy and sell and their share price may fluctuate more than that of larger companies.
  • This trust is suitable to be used as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this trust.
  • Active management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times.
  • The trust could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the trust.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • The return on your investment is directly related to the prevailing market price of the trust’s shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the trust. As a result losses (or gains) may be higher or lower than those of the trust’s assets.
  • The trust may use gearing as part of its investment strategy. If the trust utilises its ability to gear, the profits and losses incured by the trust can be greater than those of a trust that does not use gearing.
  • The Company confirms that it currently conducts its affairs so that its ordinary shares of 25p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
  • The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.