This venerable investment trust is yielding 3.3% and trading at a double-digit discount

This venerable investment trust is yielding 3.3% and trading at a double-digit discount By Nick Sudbury The majority of investment trusts that offer a relatively steady source of income have been bid up well beyond their underlying net asset value (NAV) with investors willing to pay a premium for the secure yield. One fund that has not yet been caught up in the bidding war is the Law Debenture Corporation (LON:LWDB), an unusual investment trust that the stockbroker Killik & Co has recently flagged up as offering an attractive entry level. It is a unique proposition that consists of two distinct components: a portfolio of UK and international equities, and a wholly owned Independent Fiduciary Services (IFS) business that provides a range of financial and professional services. LWDB is an independently run investment trust that was created in December 1889 and that aims to achieve long-term capital growth in real terms and a steadily increasing level of income. The £822m fund provides exposure to UK and overseas shares with the goal of generating a higher total return than the FTSE All-Share index… Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,807.04, a decrease of 10.37 points. The FTSE 250 fell 94.09 points to finish at 17,628.71. The FTSE All Share dropped 7.49 points to finish at 3,706.83. The FTSE AIM All Share ended the day at 815.28, down by 1.40 points. Heating and plumbing parts supplier Wolseley (WOS) earned revenues of £14.4 billion over the year ended 31st July, an 8.5% improvement over the prior year but significantly enhanced by the recent fall in the value of the pound. Pre-tax profits also climbed, by 43% to £727 million, but management said that they would be looking to restructure UK operations and cut around 800 jobs due to the relatively stagnant domestic heating market. Shares in the company fell by 56p to 4,244p. Don't miss our September issue! Click HERE to read. Consumer travel outfit Thomas Cook (TCG) said that trading during the 2016 summer season was good, despite weak demand for holidays in Turkey due to recent unrest. Bookings for Winter are in line with the previous year, while advance bookings for the 2017 summer season are encouraging. Overall demand across the UK and Northern Europe is solid, but Germany has been weaker than in the recent past. The shares dropped 0.29% to 69.80p. Shares in AIM-list business IT specialist Alternative Networks (AN.) crashed 12.5% to 275.5p after it announced that new business intake had suffered in the weeks immediately following the vote for Brexit and that some project completions had slipped beyond the end of the year. However, sales recovered during August and September, with management saying that the order pipeline for the new financial year starting 1st October was strong.  Tomorrow's news today AA (AA.) will release final results. Quote of the day "You always admire what you really don't understand." - Blaise Pascal Latest Stories S&P 500 is a perfect charting sell By Zak Mir With Deutsche Bank the next Lehman Brothers on this side of the pond, and a Punch & Judy Presidential Election Stateside, there is no reason and no justification for indices like the S&P to be near all time highs… Click Here To Read The Full Story Why I'm buying into SolGold's spectacular ascent By John Cornford My taking a profit on a small proportion of my stake in SolGold after its spurt to 12p following Newcrest International's offer to buy 10% at 6p per share is looking silly now that the shares are touching 18p – after what looks like a mini-buying stampede today... Click Here To Read The Full Story Jim Mellon: The things keeping me awake at night By Jim Mellon With the gaggle of visitors to my Spanish lair abating with summer, I've had a lot of time for thinking lately. It's been a quiet time for markets, seemingly, but there have been opportunities, some of which we've taken, and others which we outright missed… Click Here To Read The Full Story Barratt Developments: Imminent triangle breakout targets 350p By Zak Mir While the housing market is clearly still one of the main topics of conversation at dinner parties, and continues to hold up despite a fall in mortgage approvals by a fifth in August, the real issue is perhaps whether the rebound for housebuilders can continue… Click Here To Read The Full Story What the European Bank Stress Tests Don't Tell Investors By Victor Hill European bank stocks have fallen to historically low multiples. The earnings outlook is uncertain and the banking environment is in flux. Tighter regulation, coordinated at the EU level, and challenging market conditions have forced banks to refine their business models and strategies… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd does not accept any liability for any losses suffered by any user as a result of any such decision.

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