http://www.ft.com/cms/s/0/b00a26c8-79a6-11df-85be-00144feabdc0.html
Rothschild in gold
By Emiliya Mychasuk and Emiko Terazono
Published: June 17 2010 03:00 | Last updated: June 17 2010 03:00
Lord Rothschild has returned to equity markets for higher rates of return, through his RIT Capital investment vehicle.
But RIT is hedging its bets by holding a stash of gold and remains conservative in its investment choices.
"We face . . . an outlook and an uncertainty unlike much that we have been used to," the 74-year-old investor warns in the latest RIT report.
In a search for returns, RIT lifted public markets exposure to a peak of 82 per cent, from 37 per cent a year ago. It bought commodities and more cyclical companies, as well as developing markets and currencies. Ahead of the May markets slump, it favoured cash-rich companies with a global spread. Currency plays helped significantly, as RIT cut back on sterling and euros and lifted dollar and dollar-pegged Asian currencies.
But Lord Rothschild kept "significant" stores of gold and gold shares "for defensive reasons" - gold made up 9 per cent of net assets by this June.
As for specific stocks, RIT was caught with a £28m stake in Transocean, operator of the ill-fated BP oil rig. It was a one-time investor in BSkyB but sold in 2009, soon after Lord Rothschild left the board he had joined to smooth the way for James Murdoch.
people@ft.com
Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
Many Expert Researchers & historians believe The Rothschild Banking dynasty is the still the richest family in the world. I suspect that he has a whole lot more than 9 percent of his holdings in gold. Lord Eveyln Rothschild used to run the LBMA (London Bullion Market Association) and set the daily price of gold. He is one the main reasons gold prices remain suppressed. Here is the Wikipedia Article on The Rothschild Banking Dynasty remember Wikipedia is a highly regulated community http://en.wikipedia.org/wiki/Rothschild_family.
No comments:
Post a Comment