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

RIT Capital PartnersAnnouncement

16/08/2024 07:00

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RNS Number : 6580A  RIT Capital Partners PLC  16 August 2024

RIT Capital Partners plc (LEI: P31Q1NLTW35JJGHA4667)

 

16 August 2024

 

31 July 2024 Net Asset Value

 

RIT Capital Partners plc announces that its unaudited diluted net asset value
("NAV") as at 31 July 2024 (with debt at fair value) was 2,560p per £1
ordinary share (30 June 2024: 2,508p).

 

July 2024 Market Commentary

 

The MSCI ACWI (50% £) ended the month +0.6% up, largely driven by the US
market which benefited from a rally in small and medium sized ("SMID cap")
stocks. In contrast, concerns over the growth outlook in Europe and Asia
weighed on market sentiment in these regions.  Notably, the UK performed
strongly following the general election.

 

Portfolio Highlights

 

Our portfolio outperformed both our global equities and inflation hurdles
during the month against a volatile backdrop for global equities with a
positive performance of +2.1% for the month, driven by strong gains in our
Quoted Equities pillar, while our Private Investments and Uncorrelated
Strategies pillars remained largely flat. Our meaningful US dollar position
detracted from returns as sterling rallied in the wake of the UK general
election.

 

Specific highlights for July include:

 

 ·         Strong performance across our Quoted Equities book (both direct and underlying
           managers), in part driven by our exposure to SMID cap, healthcare and cyclical
           stocks which fared particularly well. Our exposure to Japan was also a
           positive contributor, despite the small decline in the TOPIX index during the
           period.

 ·         Private Investments' performance was broadly flat across the pillar. As
           reported in our Interim Results, there were further realisations during the
           month of July and we continue to see positive indicators in the market that
           this momentum should continue.

 ·         Investments in Uncorrelated Strategies were also flat during the period, with
           marginally positive contributions across credit strategies, gold and
           government bonds and a modest decline in performance in California carbon
           credits.

 

 

For more information:

J. Rothschild Capital Management Limited (Manager):

T: 020 7647 8565

E: investorrelations@ritcap.co.uk

 

Numis Securities Limited (Joint Broker):

David Benda

T: 020 7260 1000

 

JP Morgan Cazenove (Joint Broker):

William Simmonds

T: 020 3493 8000

 

Brunswick Group LLP (Media enquiries):

Nick Cosgrove, Sofie Brewis

T: 020 7404 5959

E: RIT@BrunswickGroup.com (mailto:RIT@BrunswickGroup.com)

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