Reinet is not such a dog after all
Once Johann Rupert’s discounted proxy vehicle for British American Tobacco, the group has had a cracker year on the JSE. This is due, in no small part, to its changing investment mix
Shares in Reinet, the investment company controlled and chaired by Johann Rupert, have jumped 35% over a year. That’s the sort of move not usually associated with an enterprise steeped in defensive capital preservation strategies. It’s also, arguably, about time.
Investors might look hard into Reinet’s latest financials to glean reasons for such a swing in sentiment. There is the commitment by Reinet to invest the equivalent of 5% of its value into a specialised technology fund that may add a certain edge to the portfolio. Then there’s the maiden dividend paid by UK risk transfer specialist Pension Insurance Corp (PensCorp), now Reinet’s biggest asset...
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