2nd Aug 2021 08:51
(Alliance News) - RIT Capital Partners PLC on Monday said its net asset value grew during the first half of 2021, during what was a "benign" period for global markets.
The investment firm, managed by J Rothschild Capital Management Ltd, said NAV per share rose by 18% to 2,711 pence at June 30, from 2,292p at the end of December.
The company, which has stakes in blue-chip firms such as Walt Disney Co and Unilever PLC, reported a net asset value total return of 19% during the period. It outperformed the MSCI All Country World Index, which returned 12%.
"The first six months of the year appeared to be a relatively benign time for equity markets, with many developed markets posting low double-digit gains, despite continuing Covid-19 concerns and notably higher inflation figures," Chair James Leigh-Pemberton said.
"Our focus continued to be on ensuring the investment approach remained disciplined, but with the right amount of agility that these market conditions require."
RIT raised its payout 0.7% to 35.250p per share, from 35.0p.
By Eric Cunha; [email protected]
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