27th Feb 2015 08:24
LONDON (Alliance News) - RIT Capital Partners PLC on Friday reported its total return in 2014 was 13.3% and said the net value of its portfolio is now at an all-time high.
The FTSE 250-listed investment trust said its share price total return for the year was 13.3%, while its net asset value total return for the year was 9.5%. Its net asset value also increased 3.3% in January, RIT added, up from 1,483 pence at the end of December to 1,531 pence at the end of January.
The trust does not have a formal benchmark.
Its total net assets at the end of 2014 rose to GBP2.3 billion, the highest it has recorded.
RIT said it intends to pay a dividend of 15 pence per share in April and 15 pence per share in October, up 2% on the total 29.4% paid last year.
"We have kept our quoted equity exposure at moderate levels and have sought to add to returns through a widely diversified range of activities. Returns in the year under review were achieved through stock selection, by sub-contracting capital to talented and specialised investment managers and active currency positioning," said Chairman Lord Rothschild.
RIT shares were down 0.1% to 1,528.218 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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