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

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

The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
How the stamp duty holiday is pushing up house prices
Stamp duty

How the stamp duty holiday is pushing up house prices

Stamp duty is an awful tax and should be replaced by something better. But its temporary removal is driving up house prices, says Merryn Somerset Webb…
25 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020