20th Feb 2025 13:09
Polar Capital Global Financials Trust PLC - invests for income and capital growth in financial companies globally - Net asset value total return in sterling terms is 34.8% in the financial year that ended November 30, just short of the trust's benchmark, the MSCI ACWI financials index, at 36.1%, though ahead of broader equity measures, such as the MSC world index at a 26.8% return. NAV per share is 207.7 pence on November 30, up from 158.1p a year before. Polar Capital Global Financials Trust will pay total dividends of 4.70p per share for financial 2024, up 3.3% from 4.55p for financial 2023.
Chair Simon Cordery says the trust lagged its benchmark only because of its 6.5% weighting in fixed-income securities, while the benchmark is pure equity. "We are enthusiastic about the outlook for the global financial sector; this is a large and diverse sector which has been overlooked by investors for many years and where large sections of the market still trade at very attractive valuations," he says.
Current stock price: 206.89p
12-month change: up 34%
By Tom Waite, Alliance News editor
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