February 8, 2018 / 7:08 AM / 2 months ago

BRIEF-Polar Capital Global Financials Trust UP 16.4 PCT FOR YEAR ENDED NOV 30

Feb 8 (Reuters) - Polar Capital Global Financials Trust Plc :

* NO SUBSCRIPTION SHARES IN ISSUE AT 30 NOVEMBER 2017​

* ‍PERFORMANCE SINCE INCEPTION HAS BEEN CALCULATED FROM INITIAL NAV OF 98P TO 30 NOVEMBER 2017​

* ‍PERFORMANCE SINCE INCEPTION HAS BEEN CALCULATED USING LAUNCH PRICE OF 100P PER SHARE AND CLOSING SHARE PRICE ON 30 NOVEMBER 2017​​

* ‍AS AT 30 NOVEMBER 2017 PERFORMANCE WAS 4.1 PCT BELOW HURDLE RATE AT WHICH A PERFORMANCE FEE WOULD BE PAID​

* ‍FROM JANUARY 2018 TRUST IS SUBJECT TO CONSIDERABLE NEW REGULATION WITH FURTHER REGULATORY CHANGES AWAITED LATER IN 2018​

* ‍BOARD HAS AUTHORISED A FURTHER DIVIDEND OF 1.8P PER ORDINARY SHARE PAYABLE TO SHAREHOLDERS ON REGISTER AS AT 9 FEBRUARY 2018​

* ‍BOARD AND MANAGER BELIEVE THAT BETTER OUTLOOK FOR FINANCIALS IS NOT FULLY REFLECTED IN VALUATIONS AS SECTOR CONTINUES TO CARRY A LEGACY RISK PREMIUM​

* ‍BOARD LOOKS FORWARD TO CONTINUED REHABILITATION OF SECTOR AND CREATION OF FURTHER VALUE FOR SHAREHOLDERS​ Source text for Eikon: Further company coverage: (Reporting by Maiya Keidan)

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