RIT Capital Partners- Update from QuotedData
19th June 2024
Change in fortunes on the horizon
RIT Capital Partners' (RIT's) private (unquoted) investments portfolio, which for the past two years has dragged on the trust's net asset value (NAV) returns, could be the spark for a change in its fortunes over the next 12 months. Several holdings are considering initial public offerings (IPOs) that could present healthy premiums to the typically conservative values that they are held at on RIT's books and will allow the manager to reallocate capital to areas of the equity and credit markets that it has identified as undervalued.
RIT's equity portfolio has performed broadly in line with equity markets, which is no mean feat considering it has held a de minimis position in the so-called 'magnificent seven' mega-cap tech stocks (Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia and Tesla). This is testament to the team's stock picking ability. Allocating a larger share of RIT's capital to this investment pillar could bear substantial fruit. Given the improving outlook, the trust's current discount to NAV of 30.9% looks a highly attractive entry point.
Full Research:
https://quoteddata.com/research/rit-capital-partners-change-in-fortunes-on-the-horizon-qd/
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NB: Marten & Co was paid to produce this note on RIT Capital Partners Plc, and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.
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