Can new management turn RIT Capital around?

After several years of poor performance, there is growing evidence that RIT has turned the corner, says Max King

RIT Capital Partners plc company logo seen displayed on a smart phone
(Image credit: Igor Golovniov/SOPA Images/LightRocket via Getty Images)

Five years ago, Jacob Rothschild stepped back from direct involvement in RIT Capital Partners (LSE: RCP), the £4 billion trust effectively controlled by his family. Straightaway, its performance lagged without his magic touch.

On at least one occasion, RIT seemed to have turned the corner, only to fall back again. The shares retreated from trading at a premium to net asset value (NAV) to a discount of more than 30%.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
Max King
Investment Writer

Max has an Economics degree from the University of Cambridge and is a chartered accountant. He worked at Investec Asset Management for 12 years, managing multi-asset funds investing in internally and externally managed funds, including investment trusts. This included a fund of investment trusts which grew to £120m+. Max has managed ten investment trusts (winning many awards) and sat on the boards of three trusts – two directorships are still active.

After 39 years in financial services, including 30 as a professional fund manager, Max took semi-retirement in 2017. Max has been a MoneyWeek columnist since 2016 writing about investment funds and more generally on markets online, plus occasional opinion pieces. He also writes for the Investment Trust Handbook each year and has contributed to The Daily Telegraph and other publications. See here for details of current investments held by Max.