RIT Cap Partners sees NAV slip in the first quarter
Investment trust RIT Capital Partners saw its net asset value (NAV) decline in the first quarter.
Investment trust RIT Capital Partners saw its net asset value (NAV) decline in the first quarter.
Diluted NAV per share in the period between the start of April and the end of July fell by 3.0% to 1,183.5p, although it is still up 4.7% since December 31st.
"RIT's investment strategy continues to reflect a policy of caution favouring large, quality companies and growth sectors in the developed world," the firm said.
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
On a total return basis, from the start of the year to July 31st, the group's share price had gained 0.3%, better than the 1.1% decline in the FTSE All-Share Index and the 1.6% fall in the MSCI World Index.
The company said it has reviewed its dividend policy, following changes to tax legislation, and a dividend of 28p per share will be paid on August 24th for shareholders on the register at June 15th.
The firm also announced that it is moving its financial year to a December year-end (from a March year-end previously).
BC
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published