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

RIT Capital PartnersAnnouncement

06/02/2025 07:00

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RNS Number : 0878W  RIT Capital Partners PLC  06 February 2025

RIT Capital Partners PLC (LEI: P31Q1NLTW35JJGHA4667)

6 February 2025

December 2024 Preliminary Unaudited Net Asset Value

RIT's preliminary, unaudited diluted NAV at 31 December 2024 (with debt at
fair value) was 2,614p per £1 ordinary share (30 November 2024: 2,635p).
The NAV per share return for the month decreased -0.8%, compared to the MSCI
ACWI (50% £) which declined -1.2%.

The preliminary 31 December 2024 NAV is equivalent to a NAV per share total
return for the year of 9.4%, with positive returns across all three investment
pillars. Our annualised NAV per share total return since inception is 10.5%,
underscoring our commitment to delivering healthy, long-term returns for our
shareholders.

As is customary at this point in our year-end process, the preliminary NAV and
associated performance numbers for 2024 are estimates, and subject to
potential adjustment and audit.  Full details will be included in the 2024
Annual Report and Accounts, which is expected to be published by early March.

December Performance Highlights

In December, our performance saw a decline in Quoted Equities and Uncorrelated
Strategies, which were partially offset by gains in Private Investments and
positive currency translation effects.

 ·         In Quoted Equities, US cyclicals reversed some of the post-US election gains,
           while healthcare stocks saw headwinds from a higher interest rate environment
           and more uncertain policy outlook. These were partially offset by positive
           performances from SMID cap stocks and investments with managers in Japan.
 ·         Private Investments rose in value after an uplift in December valuations of
           our direct holdings. As of 31 December, more than 99% of our private funds
           were held at 30 September reported valuations and all private direct holdings
           were valued at 31 December, in line with our valuation policy.
 ·         Uncorrelated Strategies detracted from our NAV, with mark-to-market losses in
           our UK gilts as government bond yields soared to multi-decade highs.
 ·         Currency acted as a modest contributor, primarily due to the US dollar's
           appreciation against sterling.
 ·         We continued our ongoing share buyback programme in December. During the year,
           we repurchased £80 million or approximately 4.3 million shares.

 

 

For more information:

J. Rothschild Capital Management (Manager):

T: 020 7647 8565

E: investorrelations@ritcap.co.uk

 

Deutsche Numis (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

 

 

 

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