Lord Rothschild is pulling in his horns. The veteran investor has reduced the equities exposure of RIT Capital Partners, his family’s £2.5bn London-quoted vehicle, from 55 to 44 per cent. He has cut sterling-denominated positions to 25 per cent and raised outlay on gold and precious metals to 8 per cent.Lord R underpins these moves at RIT, described in half-year results this morning, with bearish comments on monetary policy, which he calls “the greatest experiment…in the history of the world”...MOREAnd from CityWire:
RIT Capital slashes equity exposure 20% in 'uncharted waters'
RIT Capital slashed its equity allocation by 20% over the first half and diversified away from sterling assets as the £2.5 billion trust navigated the ‘uncharted waters’ of Brexit and negative interest rates.
Overall stock market exposure was trimmed from 55% to 44% at end of its half-year. This appears to have occurred fairly early, with the managers noting an average 45% exposure over the full period....MORE
...Over three years the trust has returned 34.1% in share price terms versus a Citywire Flexible Investment peer average of 15.3%. The trust currently trades at a 5.7% premium.
