InvestmentsMay 16 2013

Polar Capital to launch Global Financials investment trust

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ByMatthew Jeynes

Polar Capital is set to launch a Global Financials investment trust for managers Nick Brind and John Yakas.

The trust will invest approximately 70 per cent of its assets in banks from across the globe to take advantage of the low valuations in the sector, focusing particularly on banks in Europe and emerging markets.

The specialist asset manager is looking to raise at least £100m for the investment trust and plans to list it on the London Stock Exchange at the end of June.

The trust will be the third financials fund from Polar Capital as Mr Yakas currently manages a Financial Opportunities fund and Mr Brind runs the Financials Income fund.