IN BRIEF: Polar Capital Technology Trust in FTSE 100 as DS Smith out
Polar Capital Technology Trust PLC - investor in technology companies that is managed by Polar Capital LLP - Enters the FTSE 100 index of the largest London-listed companies on Monday, as the shares of packaging firm DS Smith PLC are delisted. DS Smith was acquired by the US's International Paper Co in a deal that gave it an enterprise value of GBP7.8 billion. This is the first time that Polar Capital Technology Trust has been part of the FTSE 100, having originally been launched in 1996 as Henderson Technology Trust PLC. The management contract was transferred to Polar Capital in 2001, and Ben Rogoff at Polar Capital has been the lead manager since 2006. "Through what has been a challenging period for the investment trust sector, it is pleasing to see Polar Capital Technology Trust go from strength to strength," says Chair Catherine Cripps. The trust has a market capitalisation of GBP4.24 billion. Read More