Polar Capital Technology Trust Outperforms...
(Alliance News) - Polar Capital Technology Trust PLC said Monday it outperformed its benchmark ... (Alliance News) - Polar Capital Technology Trust PLC said Monday it outperformed its benchmark for its recently ended financial year, mostly due to strong returns from US companies and a weaker pound during the period. For the year to the end of April, Polar Capital Technology reported a 25% rise in net asset value total return, outperforming the Dow Jones World Technology Index, on a sterling adjusted basis, which rose by 21%. Net asset value per share as at April 30 was 1,446.40 pence, up from 1,159.69p the same date the year before. Shares in Polar Capital Technology Trust were up 0.4% on the day Monday at 1,378.00p, having improved since the year-end. "Technology continues to be a very volatile sector, and we seek to pay attention to risk both in absolute and relative terms. Ben Rogoff's approach, which he established in 2006, continues to be that of running a diversified portfolio," Bates said. "He [Ben Rogoff] has the aim of delivering comprehensive exposure to the opportunities he sees in the sector in order to deliver good long-term outperformance, but he also seeks to avoid the worst of the inevitable downturns. We were therefore pleased to see that he outperformed during the period of market downturn in this financial year," she added.