RIT publishes February 2026 NAV Commentary
28 February 2026 NAV Commentary
RIT’s unaudited diluted NAV as at28 February 2026 (with debt at fair value) was 3,026p per £1 ordinary share (31 January 2026: 2,958p), +2.3% from the previous month. YTD to 28 February, RIT’s NAV per share total return is +3.6%.
Global equities advanced in February, with emerging markets outperforming developed markets and Asia leading regional gains. In the United States equities were mixed amid renewed concerns about slower growth and persistent inflation, while market leadership broadened beyond large-cap technology companies. Meanwhile, European equities edged higher.
Against this market backdrop, our diversified portfolio delivered a solid performance, with all three investment pillars – Quoted Equities, Private Investments and Uncorrelated Strategies – generating positive returns. The portfolio also benefitted from the strengthening of the US dollar against sterling over the period.
Highlights:
- Quoted Equities contributed meaningfully to our NAV performance, led by commodity-related equities and our specialist managers focused on Japan and biotech, with some return offset from quality holdings.
- Private Investments delivered positive returns following the receipt of fourth-quarter valuations within Private Funds. As of 28 February, 35% of the Funds portfolio reflects 31 December 2025 valuations, with the remainder mostly at 30 September 2025.
- Uncorrelated Strategies, which acts as a steady diversifier of returns, performed well, reflecting positive contributions from gold.
- We continued our share buyback programme, repurchasing £8.6 million or approximately 391,000 shares in February. YTD we have repurchased approximately 700,000 shares for £15.5 million.
For more information:
J. Rothschild Capital Management (Manager):
T: 020 7647 8565
E: [email protected]
