- Polar Capital Technology Trust has reported its total return performance came in below the benchmark for the six months to 31 October 2019, with the net asset value per share rising 2% during the first half of the year versus 4.6% for the sterling-adjusted benchmark.

Portfolio performance was negatively impacted by the underperformance of its US exposure and the drag of holding cash in a rising market and its own NASDAQ puts, the trust said.

In its unaudited results for the six-months, the trust ended the period with total net assets of £1.97bn, up slightly from £1.93bn at the end of April 2019.

It said the technology sector 'modestly outpaced' the broader market during the half year, with the Dow Jones World Technology Index advancing 4.6% in sterling terms.

At 9:55am: [LON:PCT] Polar Capital Technology Trust Plc share price was +5p at 1471p

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