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RCP Rit Capital Partners Plc

1,912.00
10.00 (0.53%)
03 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Rit Capital Partners Plc LSE:RCP London Ordinary Share GB0007366395 ORD �1
  Price Change % Change Share Price Shares Traded Last Trade
  10.00 0.53% 1,912.00 313,758 16:35:27
Bid Price Offer Price High Price Low Price Open Price
1,908.00 1,910.00 1,914.00 1,904.00 1,914.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 108.8M 66.1M 0.4557 41.87 2.76B
Last Trade Time Trade Type Trade Size Trade Price Currency
16:39:26 O 10,000 1,908.00 GBX

Rit Capital Partners (RCP) Latest News (2)

Rit Capital Partners (RCP) Discussions and Chat

Rit Capital Partners Forums and Chat

Date Time Title Posts
24/11/202417:28Timing is all.640
22/10/202308:15RIT CAPITAL PARTNERS - GREAT GROWTH STORY147
15/4/201419:58RIT Capital - undiscovered Gem ?164

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Rit Capital Partners (RCP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:42:201,908.0010,000190,800.00O
16:42:011,910.0025,000477,500.00O
16:39:271,911.7515,000286,762.50O
16:36:211,912.003,61069,023.20O
16:35:271,912.0013,672261,408.64UT

Rit Capital Partners (RCP) Top Chat Posts

Top Posts
Posted at 03/12/2024 08:20 by Rit Capital Partners Daily Update
Rit Capital Partners Plc is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker RCP. The last closing price for Rit Capital Partners was 1,902p.
Rit Capital Partners currently has 145,040,202 shares in issue. The market capitalisation of Rit Capital Partners is £2,770,267,858.
Rit Capital Partners has a price to earnings ratio (PE ratio) of 41.91.
This morning RCP shares opened at 1,914p
Posted at 13/11/2024 16:22 by f56
Interesting that RCP have an indirect stake in OpenAI through Thrive capital.
Posted at 23/10/2024 08:18 by abc_001
RCP buyback volumes have been up recently
Posted at 18/10/2024 07:23 by chillpill
Back on Fidelity platform….

Fidelity has removed RIT Capital Partners (RCP) from its blacklist of investment trusts in the first sign of the positive impact cost disclosure reform could have on the beleaguered closed-end fund sector.

Shares in the Rothschild family-backed trust, which languish on a 34% discount over concerns about performance, private equity exposure and high costs, jumped 50p, or 2.9%, to £17.80 at Fidelity International’s decision to remove trading restrictions.

‘We are delighted that Fidelity has reinstated RIT Capital Partners plc on its platform. This means that new buyers can once again buy RIT shares via Fidelity,’ said a spokesperson for the £2.5bn global multi-asset fund.
Posted at 17/10/2024 12:57 by mwj1959
A decent NAV gain of 1.5% in September, despite £ strength. So, not a surprise to see a decent rally in the share price, albeit still down on the month.
Posted at 15/10/2024 06:26 by abc_001
And as more sellers come along, RCP buying is going down. Are they running out of firepower?
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.
Posted at 24/9/2024 12:05 by mwj1959
I think placing a 10% discount on the liquid assets is a bit too harsh. Based on the Interims roughly 40% is in Quoted Equities (50/50 split between direct and funds), which you could argue should be valued at or close to NAV. 24% is in Uncorrelated Assets, some of which are liquid (3%in govt bonds), but the rest is in funds (redemption periods etc. unknown). Ultimately, however, you could liquidate all of these at or around NAV. So, I would go for a (conservative) 5% discount here. That gives you £15.68 of assets (versus NAV of £16.51), so 86% of the current £18.3 share price Private Assets are left with £2.62 of the share price versus an NAV of £9.29, a 72% discount. If you applied zero discount to the liquid assets the discount would be 81%. Clearly this is excessively high, if you compare it to other PE quoted vehicles and also given the fact that 26% of the 36% allocated here is in PE funds, with only 10% direct, so stock specific risk is far less than if this was all direct.
Using my 5% discount for liquid assets and attaching a more conservative 35% discount for the PE assets (AIC average discount for the quoted sector is currently 32%, although this is inflated by the large premium on 3i) gives you £21.70, so a near 20% uplift from the current share price and still a 16% discount to current NAV.
So, decent upside even on conservative valuations. And we shouldn't forget that RCP has traded consistently at much lower discounts and even a premium in the past. With the current exposure towards the top end of their stated 20 - 40% range achieving that is unlikely. However, if they were over time to reduce PE exposure to nearer to the bottom end of the range and thereby improving NAV visibility, an even lower discount is perfectly feasible.
Hopefully this makes sense!
Posted at 10/4/2024 17:02 by mwj1959
From Citywire...probably behind the modest gain in share price today. I think they are being too pessimistic in saying that FV is a 25 - 30% discount.

Investec analysts, who have been among the most bearish critics of RIT Capital Partners (RCP), have upgraded their rating of the Rothschild-backed multi-asset fund after another weakening in its share price.

With the shares trading 30% below net asset value (NAV) earlier this week, compared with 26% when the £2.5bn listed global fund issued annual results in March, analysts Alan Brierley and Ben Newell replaced their ‘sell’ advice of 13 months ago with a cautious ‘hold’, saying fair value would see the shares trade on a discount of 25% to 30%.

Since the note was published yesterday, RIT shares have edged 0.6% higher to £17.60.

While impressed with the trust’s £184m of share buybacks in the past 15 months, which the analysts believe was a better use of capital than making new investments, they said this had failed to reverse a ‘brutal derating’ in the shares, with the portfolio’s asset value having ‘flatlinedR17; over three years when global equities had rallied 27%.


They remain wary of the trust’s large allocation to private investments, which provoked their first downgrade to ‘hold’ in December 2022. This has fallen from 45% to 36% and is set to decline to 25% to 33% in the next two years, with the company in the process of selling several stakes that might boost NAV.

‘Our central thesis is that [the private book] is vulnerable to a valuation reset following a period when a tsunami of easy money drove valuations of late-stage venture capital to extreme levels in 2020 and 2021,’ the analysts said.

Brierley and Newell welcomed the significant changes made at RIT’s wholly owned fund manager, J Rothschild Capital Management (JRCM), which has been shored up by two appointments from the investment trust’s board.

In January, former Ontario Teachers’ Pension Plan fund manager Maggie Fanari moved across to replace Francesco Goedhuis as JRCM’s chief executive, following the appointment of investment banker Maxim Parr last September as its chair.
Rit Capital Partners share price data is direct from the London Stock Exchange

Rit Capital Partners Frequently Asked Questions (FAQ)

How many Rit Capital Partners shares are in issue?
Rit Capital Partners has 145,040,202 shares in issue.
What is the market cap of Rit Capital Partners?
The market capitalisation of Rit Capital Partners is GBP 2.76 B.
What is the 1 year trading range for Rit Capital Partners share price?
Rit Capital Partners has traded in the range of 1,698.00p to 2,030.00p during the past year.
What is the PE ratio of Rit Capital Partners?
The price to earnings ratio of Rit Capital Partners is 41.87.
What is the cash to sales ratio of Rit Capital Partners?
The cash to sales ratio of Rit Capital Partners is 25.44.
What is the reporting currency for Rit Capital Partners?
Rit Capital Partners reports financial results in GBP.
What is the latest annual turnover for Rit Capital Partners?
The latest annual turnover of Rit Capital Partners is GBP 108.8M.
What is the latest annual profit for Rit Capital Partners?
The latest annual profit of Rit Capital Partners is GBP 66.1M.
What is the registered address of Rit Capital Partners?
The registered address for Rit Capital Partners is 27 ST JAMES'S PLACE, LONDON, SW1A 1NR.
What is the Rit Capital Partners website address?
The website address for Rit Capital Partners is www.ritcap.co.uk.
Which industry sector does Rit Capital Partners operate in?
Rit Capital Partners operates in the INVESTMENT OFFICES sector.

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