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Polar Capital Global Financials Trust (PCFT) Ordinary Shares

Sell:91.60p Buy:93.00p 0 Change: 1.40p (1.51%)
Market closed Prices as at close on 3 April 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Polar Capital Global Financials Trust Ordinary Shares

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Cash due
Details (last updated 17 Mar 2020)

Polar Capital Global Financials Trust is proposing a tender offer to all shareholders who do not wish to continue with their investment in the company. The tender price will be the prevailing Net Asset Value (NAV) per ordinary share less costs. The tender price is due to be calculated at close of business on 24 April 2020, then announced on 27 April 2020.

 

Shareholders will be able to participate in subsequent tender offers on a 5 yearly basis commencing on or around 30 June 2025.

 

You can ask to sell all or part of your holding in the offer. There is no guaranteed entitlement for this offer, you can ask to sell as many shares as you like, however, if the offer is oversubscribed you may not successfully sell all the shares you put forward to tender.

 

The deadline to give an instruction to sell your shares is noon on Friday 3 April 2020.

 

This Tender Offer is subject to Shareholder approval at a General Meeting to be held on 7 April 2020. If you wish to vote please send us your instruction before noon Tuesday 31 March 2020.

 

You have two options:

 

1. Do nothing
You don’t have to take part in the Tender Offer. If you don’t you’ll keep your existing Shares.

 

2. Tender Shares
Ask to sell some or all of your Shares at the prevailing NAV per Share (due to be announced 27 April 2020). You’ll receive cash from Shares successfully sold on 12 May 2020, any Shares not successfully sold will be returned to your Account around the same time.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown Clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:91.60p
Buy:93.00p
Change: 1.40p (1.51%)
Market closed Prices as at close on 3 April 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Polar Capital Global Financials Trust Ordinary Shares

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Cash due
Details (last updated 17 Mar 2020)

Polar Capital Global Financials Trust is proposing a tender offer to all shareholders who do not wish to continue with their investment in the company. The tender price will be the prevailing Net Asset Value (NAV) per ordinary share less costs. The tender price is due to be calculated at close of business on 24 April 2020, then announced on 27 April 2020.

 

Shareholders will be able to participate in subsequent tender offers on a 5 yearly basis commencing on or around 30 June 2025.

 

You can ask to sell all or part of your holding in the offer. There is no guaranteed entitlement for this offer, you can ask to sell as many shares as you like, however, if the offer is oversubscribed you may not successfully sell all the shares you put forward to tender.

 

The deadline to give an instruction to sell your shares is noon on Friday 3 April 2020.

 

This Tender Offer is subject to Shareholder approval at a General Meeting to be held on 7 April 2020. If you wish to vote please send us your instruction before noon Tuesday 31 March 2020.

 

You have two options:

 

1. Do nothing
You don’t have to take part in the Tender Offer. If you don’t you’ll keep your existing Shares.

 

2. Tender Shares
Ask to sell some or all of your Shares at the prevailing NAV per Share (due to be announced 27 April 2020). You’ll receive cash from Shares successfully sold on 12 May 2020, any Shares not successfully sold will be returned to your Account around the same time.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown Clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:91.60p
Buy:93.00p
Change: 1.40p (1.51%)
Market closed Prices as at close on 3 April 2020 Prices delayed by at least 15 minutes | Switch to live prices |
Tender Offer

Polar Capital Global Financials Trust Ordinary Shares

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Cash due
Details (last updated 17 Mar 2020)

Polar Capital Global Financials Trust is proposing a tender offer to all shareholders who do not wish to continue with their investment in the company. The tender price will be the prevailing Net Asset Value (NAV) per ordinary share less costs. The tender price is due to be calculated at close of business on 24 April 2020, then announced on 27 April 2020.

 

Shareholders will be able to participate in subsequent tender offers on a 5 yearly basis commencing on or around 30 June 2025.

 

You can ask to sell all or part of your holding in the offer. There is no guaranteed entitlement for this offer, you can ask to sell as many shares as you like, however, if the offer is oversubscribed you may not successfully sell all the shares you put forward to tender.

 

The deadline to give an instruction to sell your shares is noon on Friday 3 April 2020.

 

This Tender Offer is subject to Shareholder approval at a General Meeting to be held on 7 April 2020. If you wish to vote please send us your instruction before noon Tuesday 31 March 2020.

 

You have two options:

 

1. Do nothing
You don’t have to take part in the Tender Offer. If you don’t you’ll keep your existing Shares.

 

2. Tender Shares
Ask to sell some or all of your Shares at the prevailing NAV per Share (due to be announced 27 April 2020). You’ll receive cash from Shares successfully sold on 12 May 2020, any Shares not successfully sold will be returned to your Account around the same time.

 

Full details of this event will be sent to Qualifying Hargreaves Lansdown Clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

The investment objective is to generate for investors a growing dividend income together with capital appreciation. The company will seek to achieve its objective by investing primarily in a global portfolio consisting of listed or quoted securities issued by companies in the financial sector operating in the banking, insurance, property and other sub-sectors.
Security Weight
JPMorgan Chase & Co 5.90%
Mastercard Inc A 3.94%
Bank of America Corporation 3.93%
Chubb Corp CHF24.15 3.78%
Arch Capital Group Ltd 3.32%
Marsh & McLennan Companies Inc 2.54%
Citizens Financial Group Inc 2.52%
The Toronto-Dominion Bank 2.38%
AIA Group Ltd 2.36%
Wells Fargo & Co 2.27%
Sector Weight
Financial Services 85.09%
Real Estate 5.25%
Country Weight
United States 45.28%
United Kingdom 12.30%
Singapore 6.50%
Switzerland 4.66%
Canada 3.45%
Hong Kong 2.55%
Norway 2.40%
Germany 1.89%
Netherlands 1.84%
Belgium 1.83%

Fee Structure

Management fee of 0.7% p.a. of the lower of the NAV and market capitalisation. Performance fee of 10% of excess return over the hurdle. Agreement is terminable on less than written notice period of 12 months.

Dividend Policy

The Company aims to pay two interim dividends each year, in February and August.

ASSET SPLIT

Total number of holdings: 71.

Trust Manager

Nick Brind

Manager Bio

Nick Brind joined Polar Capital following the acquisition of HIM Capital in September 2010 and is manager of the Income Opportunities Fund. His investment experience covers a wide range of asset classes including UK equities, closed-end funds, fixed-income securities, global financials, private equity and derivatives. Prior to joining HIM Capital, Nick worked at New Star Asset Management. While there he managed the New Star Financial Opportunities Fund, a high-income financials fund investing in the equity and fixed-income securities of European financials companies, which outperformed its benchmark index in all 6 years that Nick managed it. Previously he worked at Exeter Asset Management and Capel-Cure Myers. At Exeter Asset Management, Nick managed the Exeter Capital Growth Fund from 1997 to 2003 which over this period was in the top decile of the IMA UK All Companies Sector. Nick has a Masters in Finance from London Business School.

Board Of Directors

Robert KyprianouChairman, Katrina Hart, Joanne Elliott, Simon Cordery

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.