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.

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