Lowland Inv. Company Research (LWI)

Lowland Investment Company’s (LWI’s) unconstrained, multi-cap investment policy differentiates it from most peers in the AIC UK Equity Income sector, offering investors broad market exposure outside the large, traditional ‘income stocks’. The trust outperformed strongly in the year to September (FY25), generating an NAV total return of 20.8%, 460bp ahead of its benchmark, and is well ahead of the benchmark over the past one, three and five years. This is an impressive performance given that smaller company share gains have trailed those of larger peers, and reflects strong stock selection. Despite the share price rise, LWI provides a trailing dividend yield of 4.3%, above the broad market yield of 3.3%, and has opportunistically repurchased shares at a discount to NAV to further enhance shareholder value.