By Matteo Anelli, Senior reporter, Trustnet, 03 March 2025:
RIT Capital Partners has disclosed a new position in SpaceX, initiated in the second half of 2024, in its full-year results released this morning.
The investment trust noted in the 12 months to the end of December, the net asset value (NAV) rose 7.7% (9.4% including dividends), underpinned by positive results in all the three main areas represented in the portfolio – quoted equities (up 15.8% fuelled by small-caps, China and Japan holdings), private investments (4.8%) and uncorrelated strategies (4.5%).
The strong results have led the company to propose a 10.3% dividend increase for this year, potentially making 2025 the 12th successive year of dividend growth..
QuotedData analyst Richard Williams added the trust’s “selective approach” and focus on undervalued small- and mid-cap stocks has “come to the fore and could continue to pay off handsomely going forward, with an expected broadening of technology ‘winners’ and a portfolio aligned with other global megatrends it has identified, such as medical advances”.
“The unique ability of the manager to access investment opportunities that others should not be underestimated. The investment in SpaceX is particularly exciting and these types of investments could be a source of superior returns for the trust for years to come”.
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