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Law Debenture produced another year of capital growth and a steadily increasing income.

Net Asset Value (NAV) increased by +15.9% for 2024 compared to their benchmark, the FTSE All Share Index return of +9.5%. Share price rose by +15.9%.

The share price total return has outperformed the benchmark index over 1, 3, 5 and 10 years.

The dividend yield (11/03/2025) is 3.8% . Over the last 10 years the dividend has grown by a compound growth rate of +7.9% pa. With a strong reserve position, the Board is confident in achieving continued growth in dividends over time.

The company’s wholly owned provider of Independent Professional Services is a key differentiator to other investment companies and offers additional portfolio flexibility.

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Launched in 1926 as The Cable, Telephone and General Trust Company Ltd to invest primarily in the bonds of North & South American telephone companies, Temple Bar has been managed by Nick Purves and Ian Lance of Redwheel since late October 2020 with a focus on intrinsic value and long-term growth through investment mainly in UK listed securities.

Net Asset Value (NAV)  increased by +19.9%, significantly exceeding their benchmark the FTSE All Share Index return of +9.5%. The share price increased by +19.1%.  

The dividend of 11.25% per share was an increase of +17.2% over their 2023 dividend. The dividend yield stands at 4.1%. (20/03/2025)

Since RWC took over the management,  the NAV has increased by +123.9% compared with +64.2% for the Benchmark. The board has confirmed its desire to favour enhanced dividends to shareholders over share buy-backs.

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The above does not constitute a recommendation to buy the funds and advice should be sought from your financial advisor as to the appropriateness of these funds in your portfolio. The value of investments can fall as well as rise. Past performance is no guarantee of future returns.

Insights, outlook and figures taken from the Annual Reports of each firm.

Full reports can be found as follows:

Law Debenture Investment Trust shareholder information and key performance figures‍

Temple Bar Investments Important Documents