Polar Technology Trust results: High cash levels as assets fall £300m

NAV total loss of 7.7%

Managers of the Polar Capital Technology trust ended the year holding a "relatively high level of cash" as assets in the trust declined in the 12 months to 30 April 2022, ending the period at £3.1bn, down from £3.4bn one year prior.

NAV per share finished at 2,305.1p, down from 2,496.4p in the year to April 2021. Its share price closed at 2,040.0p, while it traded at a discount price of 11.5% to the NAV per share. The company's NAV share total loss for the period was 7.7%. Total returns were at £258.6m for the year, down from £1.1bn in 2021, of which £241.9m were from capital revenue and £16.7m from income. Income revenue was up on 2021, which finished the year at £10.5m. T. Rowe Price's Vohora: Regime changes calls for style balance The managers of the trust, Ben Rogoff, Fatima Lu, Xuesong Zhao and Alastai...