Reinet Investments, an investment outfit chaired by Johann Rupert, has reported a 22.3% increase in net asset value in the year to end-March as the value its investments in UK-based financial services group Pension Insurance Corporation (PensCorp) and British American Tobacco (BAT) rose.

PensCorp now accounts for the biggest share of Reinet’s net asset value at 51.2%, from 36.8% a year ago. BAT has fallen to the second place, accounting for the third of the value, down from 40.9% a year earlier...

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