Law Debenture’s (LON:LWDB) unusual structure gives Joint Portfolio Manager Laura Foll the freedom to own recovery stocks that more traditional UK income funds may struggle to hold — and she believes that flexibility is creating fresh opportunities as AI fears reset valuations across parts of the market. In this interview, Foll explains why RELX and LSEG have moved onto her buy list, how an extraordinary wave of UK takeovers is forcing unexpected portfolio churn, where she has been taking profits, and why consumer staples such as Diageo and Unilever remain underweight.
Key Moments
- 00:08 — The structure behind Law Debenture’s outperformance
- 01:32 — How professional services income widens the investment universe
- 02:03 — Rolls-Royce, Kier, M&S and Babcock: recovery winners
- 03:00 — Where Foll sees UK mispricing now
- 03:31 — AI fears create openings in RELX and LSEG
- 05:17 — The UK takeover wave driving portfolio churn
- 06:08 — Taking profits in Ceres Power, ITM Power and Infineon
- 06:42 — What Law Debenture is consciously avoiding
- 07:21 — Why consumer staples remain underweight
Law Debenture Corporation plc combines a diversified UK-focused investment trust with a wholly owned Independent Professional Services business. Its investment objective is long-term capital growth in real terms alongside steadily increasing income, while its professional services operations provide governance and transaction services including corporate trust, pensions trusteeship, corporate secretarial services and structured finance.
