Lord Rothschild on Monday said “unprecedented” share price highs and global turmoil has forced him to cut his stock market investments.
The 81-year-old banker warned sky-high share prices in the US and an end to monetary easing was a cause for concern and he had trimmed his market exposure.
“We do not believe this is an appropriate time to add to risk,” he said.
Stocks as a proportion of RIT Capital, the investment vehicle he runs for shareholders, fell from 56% of the fund to 55%, with more money ploughed into currencies like sterling.
RIT gained £79 million in value for the six months ending June 30 to £2.78 billion with the net asset value per share up 54p to £1.784.
Rothschild (pictured) will put money into Silicon Valley tech firm Social Capital, which seeds companies in the healthcare, education and finance sector.