Debating the Merits of This Year's New Investment Trusts

At a recent panel debate, Morningstar joined several industry professionals--and listeners--to discuss the pros and cons of this year's new arrivals

Jackie Beard, FCSI 12 September, 2013 | 1:53PM
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Listen to the full debate by clicking 'Play' below this article.

This month's webinar in the Best Advice: Closed-end Fund Forum debated the merits of the new funds issued thus far in 2013, focusing on two funds in particular: Polar Capital Global Financials (PCFT) and JPMorgan Global Convertibles Income Trust (JGCI). But which is the contrarian and which is the more complex? 

The panel agreed that actually both funds are a little bit of each. John Yakas from Polar Capital talked through his belief in the seven-year cycle for financials and why now is a good time to invest in financials. He was careful to remind us that in the UK there is a fair degree of negativity surrounding the UK banks and the press often repeat what’s gone before; however, the financials sector is so much more than the UK and there are so many ways to invest beyond UK banks. Indeed, he’s seeing the fund being used by market professionals who want to diversify their financials exposure with expertise in charge of those decisions. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Polar Capital Global Financials Ord163.32 GBP-4.21Rating

About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA