8th Jul 2016 07:57
LONDON (Alliance News) - Polar Capital Global Financials Trust PLC Friday said its net asset value declined in the first half of the current financial year, but at a slower rate than its benchmark index, as the interim dividend was increased by over 5.0%.
The trust said its net asset value total return declined by 0.59% in the six months to the end of May whereas the benchmark, the MSCI World Financials Index, declined 0.84% in the same period.
Since the company's inception in July 2013, Polar Capital has achieved a fully diluted NAV total return of 19.18% compared to the benchmark return of 17.71%.
The net asset value per share stood at 109.26 pence at the end of the period, falling 2.0% from 111.49 pence a year earlier.
Polar Capital has upped the interim dividend payout to 1.95 pence compared to 1.85 pence last year.
Polar Capital shares were down 0.5% to 92.50 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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