LOWLAND INVESTMENT COMPANY PLC (LON:LWI)

Incorporated in 20 September 1960, Lowland Investment Company plc is a close-ended investment trust with investment focus predominantly in the diversified portfolio of UK companies across different sector and size with normally not more than half by value coming from the largest 100 UK companies and the balance from small and medium companies. It operates in accordance with s.1158/9 and has been approved by HMRC. The company invests across sectors such as Oil & Gas, Basic Materials, Industrials, customer goods, Healthcare, Consumer services, Telecommunications, Utilities, Financials and Tobacco. Based on its regional or industry focus and investment objective the company is classified under UK Equity Income sector. It is listed on the Main Market of the London Stock Exchange as LON: LWI and is a member of the Association of investment companies.

The company invests across diversified portfolio of around 120 stocks with the motive to deliver medium and long term higher than average return with growth of capital and income to its shareholders with low-risk. The company typically holds more than 50% in small and medium sized companies. It uses bottom- up approach to select the potential stocks and these stocks are based on the size, industry, economic sensitivity, clients and management. It compares its performance with its benchmark, FTSE All-Shares Index Total Return and it normal conditions it invest half of its portfolio in FTSE 100 companies and rest will be invested in small and medium sized companies. The manager may occasionally invest in overseas listed shares and may also invest a maximum of 15% in other listed trust. The company aims to deliver better than average dividend growth to its shareholders and long term and short term gearing is used to maximize the long-term performance of its portfolio, which will not exceed 29.99% of the portfolio valuation. Its management fee is 0.5% of average net chargeable assets up to £325m and 0.4% in excess thereof.

The company’s board comprises of only non-executive directors and it has no employees, premises, assets other than financial assets or operations, the board outsource its day-to-day operations to its Fund manager since 1990, Janus Henderson, which is a global asset manager with more than 340 investment professionals and expertise across all major asset classes. It has also appointed Henderson Investment Fund Limited to act as its alternative investment fund manager since 22 July 2014, and it delegates investment management services to Henderson Global Investors Limited.