RIT Capital Partners PLC Update on Silicon Valley Bank (7822S)
13 Mars 2023 - 1:51PM
UK Regulatory
TIDMRCP
RNS Number : 7822S
RIT Capital Partners PLC
13 March 2023
RIT CAPITAL PARTNERS PLC (LEI: P31Q1NLTW35JJGHA4667)
13 March 2023
Update on Silicon Valley Bank
RIT Capital Partners plc ("RIT") has no direct exposure to
Silicon Valley Bank ("SVB") in either the US or UK, nor to any of
SVB's affiliate entities.
RIT has been in touch with the substantial majority of our
third-party managers and portfolio company partners over the last
few days. The vast majority of RIT's holdings have confirmed either
no or de minimis exposure to SVB, while for the remainder a
substantial portion of any funds is held in money market accounts
custodied with a third-party bank, and therefore ringfenced from
SVB. Shareholders will also note the recent announcements from
policymakers in the US and UK regarding outstanding deposits at SVB
and its affiliates. We are continuing to monitor the situation
closely.
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