RIT Capital Partners PLC on Thursday said its net asset value increased during the first half of the year, with positive returns in all three investment pillars.
The London-based investment trust, aiming for long-term capital growth while preserving shareholders’ capital, said NAV per share at the end of June was 2,680 pence, up 2.5% from 2,614p at the end of December.
The NAV per share total return was 3.4% with dividends reinvested. Over the same time frame, the inflation hurdle of consumer price index plus 3% was 3.3%, and its equity index comparison, the ACWI, was 3.9%.
Private Investments generated a return of 9.0% and contributed 3.3% to NAV, while Quoted Equities generated a 4.9% return and contributed 2.4% to NAV. Uncorrelated Strategies generated a return of 3.0% and contributed 0.9% to NAV.
‘We are encouraged by the breadth of contribution across our portfolio despite the market volatility,’ said Chair Philippe Costeletos.
RIT Capital Partners said a dividend of 21.5p per share was paid during the period, with a further interim dividend of 21.5p to be paid in October.
This total dividend is up 10% to 43.0p per share from 39.0p a year ago.
Looking ahead, Chair Costeletos said the trust expects further volatility, with markets sensitive to geopolitical issues, a lower growth environment and tariff escalations.
‘This challenging backdrop brings great opportunities for RIT’s unconstrained and diversified approach, which has led our portfolio to generate double-digit returns over the cycles while managing risk,’ Costeletos noted.
The company said it is well positioned to benefit from ‘two megatrends’ of technology diffusion and a multi-polar world.
‘While we believe that sustained positive NAV performance is essential to support share price demand, we also view disciplined capital allocation as a fundamental and ongoing responsibility of the board. It is an integral part of our role as stewards of shareholder capital and, together with continued engagement, forms a key element in our efforts to narrow the discount and deliver long-term value for our shareholders,’ Costeletos said.
Shares in RIT Capital Partners were down 0.4% at 1,940.88p in London on Thursday afternoon.
Copyright 2025 Alliance News Ltd. All Rights Reserved.