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Equity Bottom-Up

Polar Capital Holdings / Equity Bottom-Up

James Douglas, fund manager at Polar Capital, discusses the outlook for the healthcare sector and the positioning of the portfolio in the Polar Capital Global Healthcare Trust. He talks about the trust’s performance, and comments on the dividend policy and how the trust has historically traded relative to NAV.

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Video: Polar Capital Global Healthcare Trust: James Douglas, executive interview

Polar Capital Global Healthcare Growth / Equity Bottom-Up

<p>Polar Capital Global Healthcare Growth & Income Trust (PCGH) was set up in 2010 with a fixed life of seven years. In advance of the expected wind-up at the early 2018 AGM, the trust is proposing a seven-year extension, changing the investment strategy to a growth mandate, and issuing zero dividend preference shares (ZDPs) to introduce gearing for the first time. It is also giving existing shareholders the opportunity to tender up to 100% of their investment at NAV minus costs (expected to be c 0.4%), as well as offering new shares to existing and new shareholders. The proposals are contingent on achieving at least &#163;200m of assets following the tender offer and new share issue. The new, growth-focused strategy, renamed Polar Capital Global Healthcare Trust, will be c 90% invested in large-cap healthcare companies benefiting from industry consolidation, and c 10% in sub-$5bn stocks that are driving change through technological innovation.</p>

Polar Capital Global Healthcare Growth & Income Trust (PCGH) was set up in 2010 with a fixed life of seven years. In advance of the expected wind-up at the early 2018 AGM, the trust is proposing a seven-year extension, changing the investment strategy to a growth mandate, and issuing zero dividend preference shares (ZDPs) to introduce gearing for the first time. It is also giving existing shareholders the opportunity to tender up to 100% of their investment at NAV minus costs (expected to be c 0.4%), as well as offering new shares to existing and new shareholders. The proposals are contingent on achieving at least &#163;200m of assets following the tender offer and new share issue. The new, growth-focused strategy, renamed Polar Capital Global Healthcare Trust, will be c 90% invested in large-cap healthcare companies benefiting from industry consolidation, and c 10% in sub-$5bn stocks that are driving change through technological innovation.

Adapting to a new global healthcare landscape

United Kingdom

Polar Capital Global Healthcare Growth and Income Trust Plc is an Investment Trust incorporated in the United Kingdom.  The Fund's investment objective is to generate capital growth and income by investing in a global portfolio of healthcare stocks. 

Polar Capital Global Healthcare Growth (PCGH LN)

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Polar Capital Global Healthcare Growth (PCGH LN)

Video: Polar Capital Global Healthcare Trust: James Douglas, executive interview

James Douglas, fund manager at Polar Capital, discusses the outlook for the healthcare sector and the positioning of the portfolio in the Polar...

Edison Investment Research

Adapting to a new global healthcare landscape

Polar Capital Global Healthcare Growth & Income Trust (PCGH) was set up in 2010 with a fixed life of seven years. In advance of the expected...

Edison Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)