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RIT Capital Increases Gold Investments as Net Asset Value Rises

Nov. 17 (Bloomberg) -- RIT Capital Partners Plc, the London-based investment trust chaired by financier Jacob Rothschild, added to its investments in gold and posted an increase in the net worth of its assets.

Net asset value climbed 2.6 percent to 1,190.4 pence a share at Nov. 5, from Sept. 30, the company said today in a statement. RIT Capital increased its holdings of gold, gold shares, real estate equities and oil and energy-related investments, the company said.

“It is hard to see how public debt can be repaid without resort to inflation,” said Rothschild, a British peer, in the statement. “We remain cautious.”

Preserving capital rather than maximizing profit will remain the company’s focus, RIT Capital said. The global economy will be “unbalanced” for some time as economic power moves to the East and the West struggles with debt, the company said.

To contact the reporter on this story: Jon Menon in London at jmenon1@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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