Following our update meeting with Nick Evans, the manager of the Polar Capital Global Technology fund, we can confirm that the fund will be soft closed from the 13th July. New investors will be unable to access the fund and any requests to purchase the fund on platforms will be blocked.
This soft closure will allow the two co-managers to focus on managing the assets already in the strategy and to continue to provide a high level of service to existing clients. The soft closure does not reflect on any immediate concerns with the size of the fund or Mr Evans’s ability to trade stocks in the market. That said, soft closing the fund will allow the managers to remain nimble in their allocation to smaller and medium sized companies.
We retain full conviction in the strategy and its managers and the fund maintains its A rating.
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