Rothschild trust takes near £130m bet against euro

Lord Rothschild has taken a near £130m bet against the euro through RIT Capital Partners, the £1.9bn investment trust of which he is executive chairman.

RIT, led by Lord Rothschild since 1988, had a -7% net short position in terms of principal currency exposures on the euro at the end of July, up from -3% at the end of January. Given a net asset value of £1.836bn at the end of July, the position is worth £128m, the Telegraph reports. The paper said sources close to RIT suggested the position was not a dogmatic negative view on the euro as a currency, but rather a realistic approach on a currency that remains relatively weak. It reports Lord Rothschild has used currency positions as a form of hedge in the past. The trust significant...