RIT Capital Partners plc, the London-based investment fund chaired by financier Jacob Rothschild, added to its investments in gold and posted an increase in the net asset value.
Net asset value rose by 2.6 percent to 1,190.4 pence per share on November 5, from 30 September, the company said today in a statement. RIT Capital increased its gold stocks, gold stocks, property stocks and oil and energy-related investments, the company said.
“It’s hard to see how public debt can be repaid without recourse to inflation,” said Rothschild, a British colleague, in the statement. “We remain cautious.”
Capital preservation rather than profit maximization, the company will continue to focus, RIT Capital said. The global economy will be “unbalanced” for some time as an economic power goes to the East and West struggling with debt, the company said.
source:bloomberg
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