Lowland Investment Company: Seeking Growth And Growing Income
Edison | Jun 15, 2016 06:13AM ET
Lowland Investment Company (LON:LWI) invests across the UK equity market (with a small proportion in overseas stocks) to achieve above-average total returns. While it is a member of the UK Equity Income sector, its managers have a greater focus on capital growth, which drives dividend growth, in order to secure a rising income for the trust over time. In the past five years it has produced compound annual dividend growth of 7.9% and currently yields 3.7%. Long-term performance has been comfortably ahead of the FTSE All-Share Index benchmark, driven by the managers’ focus on underappreciated recovery situations and a significant weighting towards mid-cap and smaller companies (two-thirds of the portfolio). Lead manager James Henderson has been in position since 1990 and the trust has been managed by Henderson Global Investors since its launch in 1963.
Investment strategy: Diversified, multi-cap approach
LWI is managed by James Henderson (as lead manager since 1990) and deputy Laura Foll. They seek undervalued companies with strong management and the potential for above-average earnings growth. The multi-cap portfolio is split broadly equally between large, mid and small caps; the managers work closely with colleagues in the UK equity team at Henderson to source ideas from across the market. Company meetings and site visits are a key part of the process. The portfolio is diversified and positions are built and divested slowly to avoid binary risks.
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Lowland Investment Company - Seeking Growth And Growing Income
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