Polar Capital Global Financials Trust – Avoiding mishap
After years of squeezed margins linked to ultra-low interest rates, banks’ profitability is increasing. However, higher rates have brought increased recession risk and, with some high profile recent failures, appear to have exposed inept risk management within some US regional banks.The managers of Polar Capital Global Financials Trust (PCFT) were quick to cut exposure to more exposed areas of the sector, while increasing PCFT’s weighting towards areas such as insurance and reinsurance, where they feel that the picture looks brighter.
Sentiment appears to have turned against the sector once more, but the managers suggest that as investors find assurance that the problems are stock specific rather than sector-wide, this could swing back in PCFT’s favour.
Polar Capital Global Financials Trust is an investment trust company. Co. invests primarily in a portfolio consisting of listed or quoted securities issued by companies in the financial sector operating in the banking, insurance, property and other sub-sectors. Co. has contracted Polar Capital LLP to act as the Alternative Investment Fund Manager.
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