Johann Rupert. Picture: BLOOMBERG/CHRIS RATCLIFFE
Johann Rupert. Picture: BLOOMBERG/CHRIS RATCLIFFE

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.

The net asset value rose to €5.4bn during the review, Reinet said in a statement on Tuesday. The value of its investment in PensCorp rose to €2.75bn from €1.61bn, after Reinet increased its shareholding in the company from 46.4% to 49.5%.

During 2020, PensCorp also concluded seven new business transactions with total premiums of £5.6bn.

“PensCorp continues to grow, writing some £5.6nbn of new business in 2020, assets under management increasing to £49.6bn, with policyholders increasing to over 273,500,” the company said in a statement.

BAT’s share price increased on the London Stock Exchange from £27.55 to £27.74, helping to lift investment value from €1.826bn from €1.802bn. The pound also strengthened against the euro in the review period.

At the halfway mark, the fallout of the Covid-19 had weighed on Reinet as Covid-19-induced volatility hit BAT share price early in 2020 before it subsequently recovered.

Reinet has declared a dividend of €0.25 per share,  which represents a 31.6% from a year ago period.

mahlangua@businesslive.co.za

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