LONDON (Alliance News) - RIT Capital Partners PLC on Tuesday reported a rise in its net asset value total return in 2015, outperforming its benchmark, as its total net assets reached an all-time high.
The investment trust said its NAV total return was 8.1% for 2015, as its total net assets stood at GBP2.4 billion, a rise of GBP187 million before distributions. The NAV total return beat its benchmark, the ACWI, which returned 2.3%. RIT's share price total return was 23%.
RIT said it profited from major moves in China, Japan and biotech, with a strong contribution from private investments in the funds portfolio, particularly those with an early-stage focus.
It warned, however, that market conditions have deteriorated since the last quarter of 2015, and that it "may well be in the eye of a storm".
"Our principle will therefore be to exercise caution in all things in the current year, while remaining agile where opportunities present themselves. Problems have a habit of creating opportunities and I remain confident of our ability to identify and profit from them during 2016," Chairman Lord Rothschild said in a statement.
Shares in RIT were trading flat at 1,553.00 pence on Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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RIT Capital Partners (RCP)