Lowland’s Multi-cap strategy continues to pay off


#1

With a long term record of delivering growth in excess of both its peers and its index, and with a steady rising dividend, Lowland Investment Company
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#2

Firstly, stunning photograph, where is it off? I wanna go there.

I looked at this a few months ago but it was on a big premium of around 6%, more than I was willing to pay.

I’ve just bought some through my Hargreaves account, at a higher price that you have above and bigger premium though it’s jsut over 1%, which is a price I was willing to pay for a good fund manager.

He is a very talented manager, he manages Law Debenture too but that’s on an even bigger premium.


#3

@CityGirl, In adition to being an IT, Law Debenture has a fiduciary business, but this is not reflected in the trust’s NAV. The usual rule of thumb is to add another 10% to the NAV to take account of this business. This does have the effect of bringing the premium down somewhat. Perhaps, the subject of an article from @dicem at some point to help explain…? :wink:

 


#4

That’s a timely request @ArkWelder. I’ve met with James Henderson, the investment manager recently, and I’m meeting the Chief Executive of Law Debenture this morning.

You make a very valid point about the assigning a premium to the value of the fiduciary business and I’ll touch on that too next week some time.

 

 


#5

It’s on a 2% premium today. I’ve put a couple of grand in which I will add to later in the year on a sort of pound-cost-averaging.

He is the kind of manager I think is worth paying for and an answer to all those who say only passive funds are the way.

I don’t think you would find a tracker fund that would replicate his investment portfolio.


#6

This looks like a really great investment. Someone once told me (on here actually but I can’t remember his name), that you should look for a dividend that is low but increases over time. That’s what this does according to the chart above.

I am not an investment expert and I won’t pretend that I am but my mind struggles to think of reasons not to invest in this?


#7

@tammy that was good advice you were given. I’ve had a holding in this for almost five years, I’ve topped up recently and I’ll do so again, and it’s been one of my best investments. James Henderson seems to be like a good Malt whisky, only improves with age.

I also hold Law Debenture, another trust manages and they have both performed exceedingly well.


#8

A bit late to the thread but this is a core holding of mine too! Also see HOT (Henderson Opportunities Trust) if you like it HOT!!