UPDATE: James Henderson is due to retire in June 2027, when co-manager Laura Foll is expected to take sole charge of the portfolio. Lowland produced an NAV total return of +16% in the year to September 2023, +16% in 2024, +21% in 2025, and looks set to return around +20-25% in the year to September 2026. It has been one of the best-performing UK Equity Income trusts over the past one, three, and five years, although its discount has remained roughly 10% throughout. 

Lowland Investment Company (ticker: LWI) was launched in 1963 with the dual mandate of providing income and capital growth by in...