18th Nov 2013 10:55
LONDON (Alliance News) - RIT Capital Partners PLC Monday said it has significantly reduced its exposure to the dollar, largely in favour of sterling.
RIT Capital Partners, the investment trust chaired by Jacob Rothschild, said it decreased its exposure to the dollar to 41% on October 31 from 80% on June 30, while the trust's exposure to sterling rose to 53% from 31% over the same four month period.
Meanwhile, RIT gave a total return of 2.0% on its diluted net asset value per share over the four months, while its share price gave a total return of 10.5%.
The MSCI World Index in sterling, though not viewed as a formal benchmark by the trust, gave a 6.3% total return.
RIT's diluted net asset value per share was 1,354 pence on October 31.
The trust also said it will remain focused on the US and Japan, while keeping an eye on "select" opportunities in Europe, while it has continued to increase its concentration in single stock positions.
RIT Capital Partners shares were Monday quoted at 1,260.48 pence, up 0.7%.
By Samuel Agini; [email protected]; @samuelagini
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