Polar Capital tech trust falls by 40%

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Net assets in the Polar Capital Technology Trust have fallen by 40% for the year ending 30 April, th...

Net assets in the Polar Capital Technology Trust have fallen by 40% for the year ending 30 April, the group told shareholders in announcing its first results since the company changed management firms from Henderson Global Investors. Preliminary results for the year ending 30 April 2001 showed the trust's net assets fell from £668.7m to £401.3m, compared to the Dow Jones Global Technology Index, which dropped 47% over the year. Brian Ashford-Russell, director at Polar Capital Partners, said: 'We are not happy with the results in what has been a very disappointing year. There is a lot of...

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