10th Oct 2013 16:36
LONDON (Alliance News) - Polar Capital Global Financials Trust PLC Thursday said its net asset value, undiluted, per share fell to 93.90 pence at the end of August from 99.6 pence in July, as the total value of its assets declined.
In an interim management statement for the period May 17 and August 31, the investment company said its total investments fell to GBP143 million at the end of August, from GBP153 million in July.
Total assets increased in North America, Europe and the UK, but assets in Asia Pacific declined. The region, excluding Japan, made up 13.3% of the company's total assets at the end of August compared with 18.5% in July.
Polar's biggest holdings remained unchanged with PNC Bank and JP Morgan Chase making up the largest proportion of its assets at 3.0% and 2.7%, respectively.
The stock closed at 102.75 pence Thursday, up 1.00 pence, or 1.0%.
By Anthony Tshibangu; [email protected];
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