Rit Capital Partners Share Discussion Threads

[aeonflux] 05/1/2023 11:29

https://www.telegraph.co.uk/investing/shares/wealth-preservation-trust-poised-suffer-big-falls/Article posted today on the 5th.

[dickiehh] 04/1/2023 20:04

Some big buys coming in this week. I would think December has been a good month with their exposure to China/Asia. Plus still on a big discount to NAV

[orinocor] 16/12/2022 08:42

That's a rotten 1.75% yield. I can understand why the discount is getting bigger as interest rates rise.

[elmfield] 15/12/2022 18:35

Interesting, going to be a buying opportunity but is it now, not convinced . Perhaps a limited buy after Christmas when things look bleak, not bleak enough yet?

[olliemagern] 15/12/2022 14:55

agree, but this first half of December probably moderates the total portfolio to around 2500p today. Trading at 2000p now looks oversold.

The last time RIT Capital was on a 20% discount was 1997 when net assets were 303p. That would have been a good time to buy and hold as well.

[dickiehhh] 15/12/2022 12:53

Olliemagern- I agree about the strangely pessimistic Investec report. I think they grossly overstated the riskiness of the non equity portfolio. Also, ACWI is up over 10 percent since end September when most of non equity was last valued, meaning real NAV likely to be much higher as of today. Agree?

[olliemagern] 15/12/2022 11:06

Gold was only 0.1% of assets in the half year June report.

[olliemagern] 15/12/2022 11:02

A great November performance, the Investec downgrade was too pessimistic aiding RIT Capital to be oversold.

Pity the World Index is down 2% this morning, subdueing and delaying the relative outperformance that will come in time.

[lovegod2] 15/12/2022 10:47

What gold holdings does Rit cap hold..anybody know ?

[dickiehhh] 15/12/2022 08:09

Nice NAV update today showing that recent share price fall is way overdone. Now on a NAV discount of circa 20 percent which I think is unprecedented for this trust. Great long term track record

[essentialinvestor] 09/12/2022 14:41

"Investec downgrades RIT Capital on private market risks.."


The above kindly brought to my attention by another poster last week,
may be worth a read.


Have to admit not following the change in portfolio composition over recent
years.

[olliemagern] 08/12/2022 12:04

Yes their quoted funds will be higher, but last months NAV 2420p, was with their private investment funds based on June 30th net assets.

End of November will update private investment funds to quarter Sept 30th, when the ACWI was some 7% lower. So i would expect a small decrease in net assets next week.

[dickiehhh] 08/12/2022 11:06

Large share buy back today. Suggests management think share price fall is overdone. Monthly NAV update due soon for November - be very surprised if isn't quite a bit higher after markets rallied last month. What do others think?

[essentialinvestor] 02/12/2022 13:59

Added back.

[essentialinvestor] 01/12/2022 15:33

Sold a few.

[essentialinvestor] 01/12/2022 12:16

This has been a reliable buy a few on a bad day for a bounce back of late.

[essentialinvestor] 21/11/2022 14:16

Not sure what was behind Friday's drop but gave an opportunity.

[olliemagern] 31/5/2022 11:03

I believe RIT Capital RCP sold around 29% of their Coupang CPNG stake at around $28 per share, in the second half of calendar year 2021, after being locked in until 11th Sept 2021. RCP holding in CPNG now represents only around ~2% of net assets.

At $13 CPNG's market cap is the same as this years f/c net rev. i.e. $23,000m. CPNG now looks reasonably priced and offers value, though they remain focused on market share and operating efficiencies rather than profit, profits will come later. In years to come $13 could prove to be a reasonably low price to buy CPNG.

[mike the mechanic] 07/4/2022 10:46

Thanks panshanger1, I'll move across

[panshanger1] 07/4/2022 10:40

Think the other thread RCP timing is all has more recent comments on this trust

[mike the mechanic] 07/4/2022 10:33

RIT NAV has grown well since the Covid collapse and quite resilient in 2022. I'm happy to keep hold especially now that the share price is at a discount to NAV

[olliemagern] 31/3/2022 16:16

RIT Capital had a relatively flat/poor year in calendar year 2019 and as Lord Rothschild retired, the consistent 7% premium fell to around 7% discount.
After two good years with NAV beating the All Country World Index in 2020 - 2021, If RIT Capital can outperform the ACWI in 2022 and re-establish 3 very good years to the end of calendar year 2022, they could return to a premium to net assets.

[panshanger1] 31/3/2022 09:23

David Stevenson over at trustnet was making the same comments this week I think this trust has always carried a little more risk ( less guilts treasuries )than CGT and PSN which I also hold but generally better longer term returns