Polar to launch Global Healthcare Growth and Income investment trust

Polar Capital plans to launch a healthcare-focused investment trust targeting the historically low valuations on offer in the sector.

Expected to raise between £100m to £150m in its mid-April offer period, the trust will be run by Daniel Mahony and Gareth Powell – managers of the group’s Healthcare Opportunities fund. The second investment trust for the boutique, after its Technology vehicle, the new company is likely to be called the Polar Capital Global Healthcare Growth and Income trust. Unlike the open-ended fund, which is focused on growth, the new trust is expected to offer a yield and focus more on value opportunities. Polar believes on a relative P/E basis, the healthcare sector is currently sitting on 30...