James Henderson, PM at Janus Henderson will provide an intro to Law Debenture Corp.
What we aim to deliver
Our objective is to achieve long term capital growth in real terms and steadily increasing income. The aim is to achieve a higher rate of total return than the FTSE Actuaries All Share Index through investing in a diversified portfolio of stocks.
We have grown or maintained for each of the last 40 years consecutively.
The portfolio is managed by James Henderson of Janus Henderson Investors.
How James Henderson and Laura Foll invest
We take a bottom up approach, spending a great deal of time with the management teams of our portfolio companies and conducting detailed analysis of the strengths, weaknesses and long term growth prospects of those companies into which we invest your money. We continue to identify organisations which are not trading at fair value or with respect of the long term prospects for the business.
It also allows us to invest in businesses which have great long term qualities but for various reasons may have hit a bump in the road. We will buy stocks that are slightly unfashionable but that we believe have a significant potential for growth. They will typically be world class brands selling globally, that have fallen out of favour.
We are patient with our positions and invest for the long term. We build up positions gradually - having taken the decision to invest in a stock we would typically begin by investing around 30bps, which we add to over time dependent upon the risk profile of an individual stock. Our long list of stocks allows us to moderate our position size where we perceive the investment case is higher risk than may be the case elsewhere in the portfolio. This means that we take a risk based approach to our position sizing, while ensuring that if we get something right the sizing is sufficient to move the dial on the portfolio performance as a whole.
Our strategy - guidelines
The Board sets the investment strategy and actively monitors both the investment managers’ and Executive Leadership team’s adherence through a series of guidelines and parameters in each scheduled Board meeting. The strategy is reviewed periodically to ensure we deliver on our objective.