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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
The industry at the heart of global technologyThe semiconductor industry powers key trends such as artificial intelligence, says Rupert Hargreaves
-
What are shareholder voting rights and why do they matter?If you hold shares in a company, the chances are they’ll come with voting rights. But how do you exercise your right to vote? And is your fund manager taking it seriously?
