RIT Capital Partners' net assets reach new high

RIT Capital Partners said its net assets exceeded two billion pounds in the year to date for the first time in its history.

RIT Capital Partners said its net assets exceeded two billion pounds in the year to date for the first time in its history.

The investment trust reported net asset value per share of 1,348p at May 10th, representing total return (including dividends) of 14.3%.

During the period, RIT's share price increased by 11.8% to 1,264p, a total shareholder return of 13.1%.

The company said its results were driven by strong outperformance of its internal and external quoted equity book, the success of the Japan and US cyclical themes and currency management.

RIT paid a dividend of 14p per share on April 26th and will pay a further 14p per share in October this year.

"The profile of our return is consistent with our dual objectives of generating long-term capital growth while preserving shareholders' capital," the company said.

"RIT has continued to consolidate its portfolio, focusing on both specific stocks and conviction themes."

Shares fell 0.63% to 1,264 at 09:00 Wednesday.

RD

Recommended

Avoid easyJet shares – there are better airlines to invest in
Share tips

Avoid easyJet shares – there are better airlines to invest in

EasyJet used to be one of Europe’s most impressive airlines. But now it is facing challenges on all fronts and losing out to the competition. Rupert …
16 May 2022
Britain’s ten most-hated shares – w/e 13 May
Stocks and shares

Britain’s ten most-hated shares – w/e 13 May

Rupert Hargreaves looks at Britain's ten-most hated shares, and what short-sellers are looking right now.
16 May 2022
Anna Macdonald and Mikhail Zverev: Investing in innovative new frontiers
Investment strategy

Anna Macdonald and Mikhail Zverev: Investing in innovative new frontiers

Merryn talks to Anna Macdonald and Mikhail Zverev of Amati about investing in growth-focused innovation in the teeth of a tech-stock selloff, and the …
12 May 2022
BT is making progress and the dividend is back – but is it time to buy yet?
Share tips

BT is making progress and the dividend is back – but is it time to buy yet?

Investors in telecoms giant BT have seen dismal returns over the last 15 years. But there are signs that it is starting to turn things around, says Ru…
12 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
High inflation will fade – here’s why
Inflation

High inflation will fade – here’s why

Many people expect high inflation to persist for a long time. But that might not be true, says Max King. Inflation may fall faster than expected – and…
13 May 2022
What the Ukraine crisis might mean for ESG investing
Advertisement Feature

What the Ukraine crisis might mean for ESG investing

The Ukraine crisis has brought many of the issues around ESG investing into sharper focus. Where does the sector go from here?
3 May 2022