REINET INVESTMENTS S.C.A - Net asset value of Reinet Fund S.C.A., F.I.S. as at 30 June 2026
What this filing means
Reinet Fund reports NAV per share of EUR 38.87 as at 30 June 2026, up EUR 0.32 from EUR 38.55 at 31 March 2026, with total NAV of EUR 6,658 million. The filing is explicit that this is the subsidiary's NAV only; the consolidated NAV for Reinet Investments S.C.A. will follow separately and will differ from this figure — the number that matters to investors has not yet arrived.
Reinet publishes the NAV of its main subsidiary, showing a small EUR 0.32 gain per share over the quarter to EUR 38.87. But the company explicitly warns its own NAV per share — the number that matters for RNI shareholders — will be different and has not been disclosed yet. This is a holding-company mechanics update, not a usable investment signal.
Bear case
- The filing explicitly states the consolidated NAV of Reinet Investments S.C.A. will differ from the Reinet Fund NAV published here — this is not the company's own NAV per share.
- The NAV calculation is unaudited and the company-level NAV has not yet been published, so no single investment-significant figure is available from this release.
AI-generated summary by SENS-AI, based on the original JSE SENS filing.
SENS-AI conclusion
This is a holding-company mechanics release, not a usable investment signal. The Reinet Fund NAV per share ticked up modestly (EUR 0.32), consistent with the steady, mark-to-market rhythm of an investment fund rather than an operational turning point. The filing's own caveat — that the consolidated Reinet Investments NAV will differ — means this is not the figure an RNI investor should anchor on. No new economic information is being disclosed; the consolidated NAV and the per-share number for Reinet Investments S.C.A. are still to come. So what: investors waiting for a NAV update that is actually comparable to the listed price should hold for the consolidated disclosure, which is the one that bridges NAV and the secondary-listing share price.
The consolidated NAV of Reinet Investments S.C.A. and its per-share figure are the disclosures that will actually connect the investment value to the listed price.
Evidence from the filing
Consolidated NAV not disclosed — this is the subsidiary's figure only.
“the NAV of Reinet Investments S.C.A. will be published in due course and dividing that value by the total number of shares outstanding (excluding treasury shares) of 181.2 million will result in a NAV per share for Reinet Investments S.C.A. which will differ from that of Reinet Fund”
NAV is unaudited.
“The NAV calculation has not been audited”
Modest quarterly NAV increase.
“NAV per share of Reinet Fund amounted to EUR 38.87 (31 March 2026: EUR 38.55)”
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