Luxembourg-based Firm Controlled By South Africa's Richest Man Hits 7.2 Billion In Net Assets

Reinet Investments, a Luxembourg-based international investment firm controlled by South Africas richest man, Johann Rupert, reported a significant increase in its net asset value NAV for the fiscal year ending Dec. 31, 2024.

The NAV grew to 6.93 billion 7.2 billion, up by 339 million 354 million from 6.59 billion 6.88 billion on Sept. 30, 2024. This growth reflects the firms impressive investment returns and prudent asset management.

According to its recent statement , the increase in NAV reflects Reinets disciplined investment approach and long-term value creation strategy. A key driver of this growth is the Reinet Fund S.C.A., F.I.S., a wholly-owned subsidiary. Its portfolio includes stakes in Pension Insurance Corporation Group Limited, British American Tobacco BAT, and other diversified assets.

During the period, the NAV per share grew by 5.15 percent from 38.48 40.18 to 40.46 42.25, reflecting steady progress. Earlier this month, Reinet sold its remaining shares in BAT for 1.45 billion 1.51 billion , below its year-end fair value of 1.51 billion 1.57 billion. The proceeds are expected to enhance liquidity and position Reinet for new investment prospects.

Reinets management remains focused on optimizing its portfolio and delivering value to shareholders. The firms stake in Pension Insurance Corporation continues to provide stable income, while its diverse investments offer a cushion against market fluctuations. The increase in NAV underscores Reinets ability to adapt to market changes and identify opportunities for sustained growth.