LONDON (ShareCast) - RIT Capital Partners said its net asset value (NAV) had grown 13.8 per cent in the first half of 2013 thanks in part to a strong performance from its equity investments.

The investment trust which is chaired by British investment banker Lord Rothschild said its NAV per share had risen to 1,342p by the end of June and had risen further to 1,378 by the end of July.

Rothschild said the trust had been reducing its holdings in emerging markets and increasing its position in the improving US economy.

He said: “Our quoted equity book has outperformed markets while our reading of foreign exchange markets has contributed to our profits.

He added: “We have been consolidating our investments in third party managed funds and have increased our holdings in individual stocks where we have conviction.”

Shares in RIT Capital Partners were flat at 1195p at 08:18 on Friday.

TB

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