- Polar Capital Technology Trust said its first-half net asset value per share rose 8.4%.

The performance beat a 7.0% rise in its cited benchmark: the Dow Jones World Technology Index, adjusted for Sterling.

No interim dividend was declared for the period ended 31 October 2018 nor the periods ended 31 October 2017 or 30 April 2018.

There was no intention to declare a dividend for the year ending 30 April 2019, the company said.

A good performance in the tech sector over the period was significantly aided by its disproportionate exposure to the US and the US dollar, while the sector trailed modestly in most other major markets.

'Even within the US, returns were driven by a narrower group of stocks concentrated in the software, cloud and payments subsectors where growth remained strong and relatively insulated against a trade-war related slowdown,' Polar Capital Technology said.

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