Polar Capital Global Financials : PCFT

Overview

Polar Capital Global Financials aims to generate a growing dividend income together with capital appreciation for investors. It seeks to achieve its objective by investing primarily in a global portfolio consisting of listed or quoted securities issued by companies in the financials sector operating in the banking, insurance, property and other sub-sectors.

We have written some notes that explain, in some detail, how the trust works and how the managers go about achieving the objective –

• “Handful of themes to drive performance“, published 13 June 2024, looks at the five themes that the managers have identified as future drivers of returns
• “Pessimism overdone, time to buy“, published 12 December 2023, notes the low valuation of the sector, especially if fears of recession are overdone
• “Avoiding mishap“, published on 7 June 2023, examines the impact (or lack thereof) of recent bank failures on the trust
• “Don’t fear the dog that is yet to bark“, published on 30 November 2022, incorporated the managers’ views on the prospects for the banking sector
• “Riding out the storm“, published in April 2022, addressed the likely impact of higher inflation, higher interest rates and perhaps recession on the trust
• “More to for“, published in November 2021, explained why the managers felt they could build on recent success
• “The tide has turned“, published in February 2021, looks at the remarkable improvement in sentiment towards the financial sector since the good news on vaccines emerged last November.
• “Too much pessimism“, published in October 2020, highlighted the value opportunity in the financials sector
• “New lease of life“, published in February 2020, discussed the reconstruction of the company as it reached the end of its initial seven-year life
• “Banks too cheap too ignore“, published in October 2019, pointed out that banks were trading at multi-year valuation lows relative to other sectors
• “Don’t fear a slowing economy”, published in April 2019, looks at how banks have lagged in markets making it crucial for PCFT to be designed to offer an attractive and growing yield

You can access the company’s website here

You can view our interviews with the company’s Fund Managers below:

26 August 2022: Nick Brind – Weekly Show

Fundamentals

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