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Polar Capital Global Financials Trust PLC - London-based financial investor - Says during the financial year, company recorded a net asset value total return of 27.9%, outperforming broader market indices. Posts net asset value per share as at November 30 of 167.5 pence, up 24% from 134.7p the year before and net assets rise to GBP457.2 million from GBP165.7 million in financial 2020. Polar Capital Global total dividend unchanged at 4.40p. Says sharp improvement in sentiment towards the financials sector in 2021 was evident in the performance of the company's benchmark, the MSCI ACWI Financials Index, which delivered a total return in sterling terms of 27.0%, comfortably ahead of the MSCI ACWI Global index's 20.6% total return.
"In the near term Covid and the outlook for inflation and interest rates are likely to be more significant drivers of fortunes for banks and the sector as a whole. Uncertainties over the pandemic and responses remain, although it appears that many governments and ways of life are moving towards a virus cohabitation rather than elimination reality. This would leave the door open to continued economic recovery with the accompanying inflation concerns," says Chair Robert Kyprianou.
Current stock price: 176.10 pence
12-month change: up 45%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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