RIT Capital Partners records 'broadly flat' NAV total return in H1 2023

Share price at 21% discount

RIT Capital Partners posted a slight drop in its net asset value total return at -0.2% over the first half of the year, the company reported in its H1 2023 results.

The trust closed the six-month period with NAV per share of 2.3 pence, while share price was at 1.8 pence, a 21% discount. RIT cited difficult market conditions, persistent inflation and rising interest rates as some of the reasons for its results. RIT Capital Partners chair and third largest shareholder increase stakes amid backlash However, it noted since inception its return per annum has been nearly 11%, compared with 7% of the MSCI ACWI. Over the first half of 2023, the trust's quoted equities returned almost 7%, contributing 2.6% to NAV total return, with Japan and healthc...