Interim Management Statement

RNS Number : 3925Y

RIT Capital Partners PLC

04 July 2008

 



RIT CAPITAL PARTNERS PLC

Interim Management Statement - 3 months ended 30 June 2008

RIT Capital Partners is a self-managed investment trust whose corporate objective is 'to deliver long-term capital growth, while preserving shareholders' capital; to invest without the constraints of a formal benchmark, but to deliver for shareholders increases in capital value in excess of the relevant indices over time.'

Its investment policy is 'to invest in a widely diversified, international portfolio across a range of asset classes, both quoted and unquoted; to allocate part of the portfolio to exceptional managers in order to ensure access to the best external talent available.'

This statement is released to comply with Disclosure and Transparency Rule 4.3 of the Financial Services Authority, and covers the period from the beginning of the Company's current financial year on 1 April 2008 to 30 June 2008. It is divided into two sections, the first covering material events and new investments during the period and subsequently to the date of publication of this statement. The second section is a general description of the financial performance of the Company in the quarter to 30 June 2008.

1.    Material events and transactions during the period and subsequently

• Activation of a new $30 million account managed by Hazel Capital investing globally in the clean technology sector.

• Activation of a new £20 million account managed by Jermyn Capital investing in Japanese REITs.

• Activation of a new $50 million account managed by RXZ Investimentos investing in Brazilian securities.

• A $35m commitment to a credit opportunities fund managed by Fortress.

• A $32m commitment to Agrifirma, a new Brazilian farmland investment fund.

• Activation of a new £25 million account managed by Akasha Capital investing globally in equity and debt securities.

•  Announcement of the Company's results for the financial year ended 31 March 2008, final dividend and the date of the Company's Annual General Meeting to be held on 17 July 2008.

2.    Financial performance during the period

The financial performance of the Company may be assessed by reference to some or all of the following comparatives:

	31 March 2008	30 June 2008	Change
Net Asset Value (NAV) per share	1,091.6p	1,090.1p	-0.14%
Share price	1,142.0p	1,103.0p	-3.4%
Share price premium to NAV	4.6%	1.2%	n/a
Morgan Stanley Capital International Index (in £)			-2.6%
FTSE All-Share Index			-2.4%
Investment Trust Net Assets Index			-1.6%

 

END

 

 

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