IN BRIEF: Polar Capital Global Healthcare Underperforms Benchmark

Polar Capital Global Healthcare Trust PLC - investment firm focused on capital growth by ...

Alliance News 15 December, 2020 | 2:59PM
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Polar Capital Global Healthcare Trust PLC - investment firm focused on capital growth by investing in a portfolio of healthcare stocks across all healthcare sectors - Says net asset value per share ends September at 268.11 pence compared to 236.88o at the same point year before. Net assets improve to GBP325.1 million from GBP288.4 million over 12-month period. Annual dividend slips to 2.00p from 2.10p. NAV total return in period 14.1% versus benchmark, MSCI ACWI Health Care Index, adding 16.0%.

Chair Lisa Arnold says: "Performance of the portfolio has been difficult over the financial year; the first six months saw some steady performance but this was dwarfed by the market crash in March, at the height of the first wave of the Covid-19 pandemic and the start of more widespread national lock-downs.

"In particular, our overweight exposure in healthcare equipment was the main negative as we entered the crisis. Elective procedures were effectively stopped overnight, to prioritise care for Covid-19 patients, with little visibility over when they would recommence, let alone when they would reach pre-pandemic levels."

Current stock price: 241.92 pence

Year-to-date change: up 1.6%

By Paul McGowan; paulmcgowan@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Polar Capital Glb Healthcare Ord 373.00 GBX 0.54

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