RIT Capital Partners reports record net asset value per share

FTSE 250-listed investment trust RIT Capital Partners has reported its highest net asset value (NAV) per share of 1,309p on February 22nd, a financial update has shown.

FTSE 250-listed investment trust RIT Capital Partners has reported its highest net asset value (NAV) per share of 1,309p on February 22nd, a financial update has shown.

In the nine months ended December 31st, the company reported that it increased its net quoted equity exposure to 61% and overall investment exposure to 101% .

It said that it consolidated its portfolio, with an increasing focus on specific situations and paid a total dividend of 28p per share in August 2012.

The board reported that it intends to pay dividends of 14p per share in April 2013 and 14p per share in October 2013.

Since December 31st, the NAV grew 9.9% and the company said that net assets are currently over £2.0bn for the first time in the trust's history.

Lord Rothschild, Chairman of RIT Capital Partners, commented: "For the first time in RIT's history net assets now exceed £2.0bn, while the NAV on February 22nd of 1,309p represents a new all-time high."

He added: "We have not abandoned the overall caution which the world economy still demands but our focus has shifted more towards growth. To reflect our increasing confidence in markets we have reduced our defensive hedges and identified investments which are attractively valued. Our particular emphasis in the current year has been targeted at an improving US economy."

RIT Capital Partners' share price was up 5.12% to 1,232p at 11:35 on Thursday.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020