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RCP Rit Capital Partners Plc

1,932.00
6.00 (0.31%)
Last Updated: 09:33:01
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Rit Capital Partners Plc RCP London Ordinary Share
  Price Change Price Change % Share Price Last Trade
6.00 0.31% 1,932.00 09:33:01
Open Price Low Price High Price Close Price Previous Close
1,912.00 1,912.00 1,936.00 1,926.00
more quote information »
Industry Sector
EQUITY INVESTMENT INSTRUMENTS

Rit Capital Partners RCP Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date
05/03/2024InterimGBP0.19503/10/202404/10/202425/10/2024
05/03/2024InterimGBP0.19504/04/202405/04/202426/04/2024
28/02/2023FinalGBP0.1905/10/202306/10/202327/10/2023
28/02/2023InterimGBP0.1906/04/202311/04/202328/04/2023
01/03/2022FinalGBP0.18506/10/202207/10/202228/10/2022
01/03/2022InterimGBP0.18531/03/202201/04/202229/04/2022
02/03/2021FinalGBP0.1762530/09/202101/10/202129/10/2021
02/03/2021InterimGBP0.1762501/04/202106/04/202130/04/2021
03/03/2020InterimGBP0.17501/10/202002/10/202030/10/2020
03/03/2020InterimGBP0.17502/04/202003/04/202030/04/2020

Top Dividend Posts

Top Posts
Posted at 05/2/2025 12:33 by mwj1959
At the margin maybe, although those costs are at the fund level not the RCP level, and SMT may be perceived to have a far better record in the private investment space than RCP. 100% in direct investments also means that their holdings are more transparent and unleveraged (not sure I'm right about this?).
Posted at 04/2/2025 21:23 by rambutan2
Stateside investors have a much better handle on what PE does and the returns it offers. UK investors, despite all the evidence, still seem to believe that it's some sort of highly risky ponzi scheme.

The best performing part of the RCP port has always been its PE positions.
Posted at 04/2/2025 20:52 by abc_001
I think that's what I am trying to say. How come KKR can attract money for PE investment and it is seen as good but if RCP or any IT has PE it's seen as risky and people are averse to it?
Posted at 04/2/2025 16:02 by mwj1959
It's an issue across the board (the exception is 3i which is at a 62% premium according to the AIC site), but has magnified in recent years on the back of significantly higher interest rates, higher leverage ratios and valuation uncertainty etc. KKR is a management company not a PE fund, so there are different drivers for their stock price and they're paid on NAV not a discounted rate.
Given that RCP has only around a third of its AUM in Private Assets the discount is probably too high. 45% in Quoted Equities should be trading at most a small discount (5%) and the 24% in Uncorrelated Strategies (Bonds, Absolute Returns and Credit) at a 5-10% discount. If that was the case the PE part of the fund is trading at a c.70% discount. This is back of an envelope calculation based on end Nov NAV and current share price (1975p). If you halved that discount that would add 313p to the SP, all other things being equal, which would be 16% higher than current levels. If that was the case the discount to NAV would be c.13%. This is broadly my target for the stock. And, of course, this is not factoring in any NAV growth.
Posted at 04/12/2024 17:55 by riverman77
NAV performance actually pretty good expect for the big drawdown in 2022 due to write down in PE positions. Hence 3y number a bit soft, but strong over 1y and 5y. However, fund selectors clearly scared off by what happened in 2022 and once a reputation is tarnished (RCP was always viewed as a safe pair of hands that never lost money) it takes a long time to get it back. I personally think it looks decent value while discount is above 20% but would probably sell if it went any tighter.
Posted at 19/11/2024 09:20 by mwj1959
Flat NAV in October after payment of dividend. I note that US$ exposure has dropped from 33% (where it has been since June) to 26% over the month, quite a material move, particularly in a month where it appreciated by nearly 4%.
Approximately a 27% discount on this NAV.
Posted at 13/11/2024 16:22 by f56
Interesting that RCP have an indirect stake in OpenAI through Thrive capital.
Posted at 30/9/2024 08:30 by mwj1959
You would probably expect that CLDN should trade at a discount relative to RCP given the higher exposure to PE related assets and the Cayzer family holding of 49%. Activists have no chance taking on CLDN, but may have a sniff with RCP, given the Rothschilds own only c.25%.
Posted at 26/9/2024 13:21 by riverman77
CLDN has a better track record than RCP, and I prefer its more straightforward approach. On the private side they take long term positions in established and fairly safe businesses. Alongside this they hold some public equities and a few private equity funds. RCP has a lot more esoteric stuff which I'm less keen on - hedge funds and various uncorrelated strategies. I suspect they'll be paying big fees on these holdings and performance looks pretty mixed. They also have more early stage venture exposure, whereas CLDN sticks to more established businesses.
Posted at 26/9/2024 08:35 by riverman77
CLDN is a much better fund in my view, although unfortunately is always on massive discount and can't see this changing. At least with RCP there is a chance they one day get back to say a 5-10% discount, and they're also doing a lot of buybacks. On this basis I'd probably opt for RCP if I had to choose.

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