RIT Capital's net asset value hits record high

The City veteran Lord Rothschild continues to produce the goods at his investment trust RIT Capital Partners.

Shareholders at the annual meeting were told that the trust's net asset value had risen by 12.8 per cent to 1344p a share in the first three months of this year. That represents the second biggest quarterly rise in asset value in the past seven years.

It is also RIT Capital's highest net asset value since it floated on the London stock market back in 1988.

Lord Rothschild rode the first-quarter wave in stock markets having raised the fund's allocation of its wealth in equities from 51 per cent to 61 per cent in the final three months of 2012. Investors were also told they would receive two interim dividends this year each of 14p a share.