IN BRIEF: Polar Capital Technology Trust cheers AI, plans stock split
Polar Capital Technology Trust PLC - London-based investment trust that seeks capital gains from investing in technology companies globally - Proposes 1-into-10 share split, to be voted on at its annual general meeting on September 11. Says the subdivision is to assist regular savers who would like to invest smaller amounts. The announcement comes as the trust says it slightly outperformed its benchmark in the financial year that ended April 30. Net asset value per share on that day is 3,154.11 pence, up 41% from 2,239.48p a year before. During the same time frame, its benchmark, the Dow Jones global technology index, rises 39% in sterling terms. Total net assets on April 30 are GBP3.80 billion, up 35% from GBP2.83 billion a year before. The trust pays no dividend due to its focus on long-term capital growth. Read More