LWI Lowland Investment Company plc

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

ISIN
GB0005368062

Share price
940.00p
As of 18/09/20

Estimated NAV
1,048.79p
As of 18/09/20

Discount / Premium
-10.37%
As of 18/09/20

Yield
6.38%
As of 18/09/20


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

Overview

INVESTMENT OBJECTIVE

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.

ABOUT THIS TRUST

  • Targets income and capital growth through a long list of holdings typically around 120 stocks
  • Bottom-up approach to stock selection that prioritises value and growth potential
  • Typically holds more than 50% in small- and medium-sized companies
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.

ANNOUNCEMENTS

  • The results for the half year period to 31 March 2020 are now available
  • The second interim dividend of 15.0p has been declared and will be payable on 31 July to shareholders on the register on 3 July 2020 (ex-dividend date 2 July).
  • A third interim dividend of 15.0p has been declared and will be payable on 30 October to shareholders on the register on 2 October 2020 (ex-dividend date 1 October).

The latest announcements for this Trust can be found on the London Stock Exchange website

DIVIDEND HISTORY

Lowland bar chart (1)
  • 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
  • The dividend has grown at a 10% CAGR (compound annual growth rate) for the last seven years
  • Barring adverse circumstances, each quarterly dividend aims to be no less than the previous equivalent
  • First interim dividend of 15.0p paid on 30 April 2020

FREQUENTLY ASKED QUESTIONS

PORTFOLIO MANAGEMENT

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.

Performance

Past performance is not a guide to future performance. Performance is shown based on the Share Price and does not include income reinvested.
Discrete Performance (%)
As of 30/06/20
Price Net Asset Value (ORD) (ORD)
 
Quarter End
As of 30/06/20
2019/2020 2018/2019 2017/2018 2016/2017 2015/2016
Price 10.80% 2.60% 3.30% 3.80% -3.70%
Net Asset Value 11.49% 2.10% 7.55% 3.19% -1.99%
Cumulative Performance (%)
As of 18/09/20
Price Net Asset Value
 
As of 18/09/20 1MO 3MO YTD 1YR 3YR 5YR 10YR
Price -0.63% -7.35% -32.13% -23.64% -27.89% -14.39% 97.39%
Net Asset Value 1.23% -1.57% -28.78% -20.61% -25.66% -6.65% 96.11%
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
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
03-Jan-19 31-Jan-19 14.00
04-Oct-18 31-Oct-18 14.00
05-Jul-18 31-Jul-18 13.00
05-Apr-18 30-Apr-18 13.00
04-Jan-18 31-Jan-18 13.00

Portfolio

Top Holdings (As of 31/08/20)
% of Fund
GlaxoSmithKline 4.11
Phoenix Group 3.57
Severn Trent 2.70
Prudential 2.45
Direct Line Insurance Group 2.37
Royal Dutch Shell 2.35
National Grid 2.13
RELX 2.10
Rio Tinto 1.79
Morgan Advanced Materials 1.69
View full holdings
Sector Allocation % OF FUND % OF FUND (As of 31/08/20)
Financials 36.32
Industrials 22.49
Consumer Services 10.60
Utilities 7.22
Oil & Gas 6.52
Health Care 6.21
Basic Materials 5.65
Consumer Goods 2.74
Telecommunications 1.40
Technology 0.85
Country/Geographic Exposures % OF FUND % OF FUND (As of August 31, 2020)
United Kingdom 96.03
Ireland 2.95
Canada 1.02
France 0.00

Documents

Document View
  • ​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.
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