Law Debenture is not, despite what the name might suggest, a privileged reserved seat for solicitors and barristers; it’s far more confusing than that. It is, in fact, a FTSE 250 investment trust that comes complete with a wholly owned provider of specialist professional services, a real rarity for this kind of stock market vehicle.
It was founded in 1889 by a group of businessmen, politicians and lawyers to arrange the issue of corporate debentures — typically, transferable loans bearing interest secured against a variety of assets, including the right to sit in highly prized seats at venues such as the Albert Hall or Wimbledon.
Over time it moved into providing services such as acting as a pensions trustee and providing legal and other services