Polar raises £89m for new healthcare trust

Polar Capital has raised £89m for its new Global Healthcare Growth & Income trust.

Over 90% of the support for the fundraising came from private client wealth managers, with the trust likely to be admitted to trading on the London Stock Exchange tomorrow. The fundraising has almost met expectations, with Polar targeting between £100m to £150m. Polar says the launch of the trust has come at a time of 30-year low valuations on the healthcare sector. "I am delighted with the success of this fundraising which has been carried out in the face of very challenging market conditions and gives Polar Capital a second investment trust to manage," Polar CEO Tim Woolley says....