24th Jul 2014 13:31
LONDON (Alliance News) - Polar Capital Global Financials Trust PLC Thursday said it generated a net asset value total return of 3.2% in the six months to the end of May.
The trust's gain was ahead of its benchmark, the MSCI World Financial Index (Total Return), which rose by 1.6% over the same period.
Since its inception in July 2013, the trust has generated a NAV total return of 7.1%, which is behind the benchmark's 7.7%.
"During this six month period, our fund managers have continued to recover the performance drag against the benchmark that the company experienced at launch, as a consequence of the launch coinciding with a major rally in global financials," Chairman Robert Kyprianou said in a statement.
By Samuel Agini; [email protected]; @samuelagini
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