RIT Capital Partners – A rare opportunity to buy a unique trust?

Last year was a turbulent one for markets and, unusually, there were few places to hide, with nearly all asset classes recording large declines. RIT’s NAV also fell in 2022. Its managers comment that this appears to have unnerved some investors who, after 10 years of consecutive NAV uplifts, may have come to believe that RIT‘s portfolio would never decline in value. RIT Capital Partners (RIT) has also come in for some criticism recently, possibly on the back of the NAV decline, with some investors claiming that the trust has ‘changed its stripes’. It appears that, following this, the shares have come under short-term pressure and have been selling at a record discount against recent history of around 23%. RIT’s managers feel that this is unjustified and believe that this presents a rare opportunity to buy a unique trust with an impressive long-term track record.