REG - RIT Cap. Partners - Net Asset Value(s)

RIT Capital PartnersAnnouncement

15/08/2023 07:00

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RNS Number : 2828J  RIT Capital Partners PLC  15 August 2023

 

 RIT CAPITAL PARTNERS PLC (LEI: P31Q1NLTW35JJGHA4667)

 15 August 2023

 31 July 2023 Net Asset Value

 The unaudited diluted net asset value (NAV) of RIT Capital Partners plc as at
 31 July 2023 (with debt at fair value) was 2,402p per £1 ordinary share (30
 June 2023: 2,364p).

 July 2023 Highlights

 Global equity markets rallied in July, as investor sentiment remained buoyant
 on the back of resilient inflation and GDP data in developed economies.
 Chinese stocks along with US small-cap stocks recorded healthy gains for the
 month. Against that backdrop, our Quoted Equities book contributed positively
 to our NAV. We also saw positive contributions across both our Private
 Investments and Uncorrelated Strategies, partly offset by currency movements.

 ·         The Quoted Equities book generated healthy returns during the month, driven by
           Global Value and China holdings in the portfolio.
 ·         Private Investments also contributed positively, driven by positive movements
           in our private funds holdings. As of 31 July, ~15% of our private funds had
           reported valuations to 30 June, with ~84% held at 31 March valuations.
 ·         Our Uncorrelated Strategies book also generated healthy performance, driven by
           gains across credit strategies as well as gold.
 ·         Currency movements detracted during the month, with the majority of the impact
           attributable to Sterling strengthening relative to the Dollar.
 ·         The Board continued to buy back shares during the month, directly benefitting
           shareholders via the accretive impact to NAV per share. In the month of July,
           the company repurchased approximately 0.6 million shares on behalf of
           shareholders.
 ·         We continue to hold a substantial liquidity balance in the portfolio. As at 31
           July, total cash and short-term gilts exceeded £400 million.

 

 About RIT Capital Partners plc
 RIT Capital Partners plc is an investment company listed on the London Stock
 Exchange.  The Company's investment manager is J. Rothschild Capital
 Management Limited (JRCM), led by its Executive Committee: CEO Francesco
 Goedhuis, Co-CIOs Ron Tabbouche and Nick Khuu, CFOO Andrew Jones and CSO Aron
 Balas.  JRCM is authorised and regulated by the FCA.

 Website: www.ritcap.com (http://www.ritcap.com/)

 

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