Polar Capital Technology : PCT

Overview

Polar Capital Technology aims to maximise long-term capital growth through investing in a diversified portfolio of technology companies around the world, diversified across both regions and sectors within the overall investment objective to reduce investment risk.

The manager selects from a universe of more than 4,000 stocks and looks to construct a diversified portfolio with about 100 stocks in aggregate. These should represent the best opportunities within the investment themes that the manager has identified, and should come at the right price. The team looks at the value chain and identifies areas where it is possible to generate super normal profits (where companies have an unfair advantage) and recurring revenue.

On average, the stocks that are selected for the portfolio should be capable of generating 30%-50% higher growth than the average stock in the benchmark index and the manager is prepared to pay up for this growth – roughly 20%-30% more than the benchmark, on average.

We have written a number of notes on the trust:

• The AI’s have it, published 9 January 2024, talked about the potential of AI and the future of technology
• Me, myself and AI, published 13 June 2023, talked about the impact of AI advances on PCT’s portfolio
• Eyes on the prize, published 10 May 2022, talked about the manager’s repositioning of the portfolio to take advantage of falling valuations
• Exciting times, published 7 July 2021 looked at the outlook for the sector
• More to go for, published 15 December 2020 looked the trust’s strong returns in the face of the pandemic
• Confidence building, published on 12 May 2020, was our initiation note

you can access the company’s website here

Fundamentals

Price