POLAR CAPITAL TECHNOLOGY TRUST PLC
AUDITED RESULTS ANNOUNCEMENT FOR THE FINANCIAL YEAR TO 30 APRIL 2022
FINANCIAL HIGHLIGHTS
|
FINANCIAL SUMMARY
|
As at 30 April 2022 |
As at 30 April 2021 |
Year Ended 2022 |
Year Ended 2021 |
|
Total net assets |
£3,050,985,000 |
£3,408,763,000 |
(10.5%) |
47.7% |
|
Net Asset Value (NAV) per ordinary share |
2305.13p |
2496.44p |
(7.7%) |
45.5% |
|
Benchmark |
3504.44 |
3535.05 |
(0.9%) |
46.4% |
|
Price per ordinary share |
2040.00p |
2364.00p |
(13.7%) |
33.3% |
|
Discount of ordinary share price to the NAV per ordinary share~ |
(11.5%) |
(5.3%) |
||
|
Ordinary shares in issue* |
132,356,426 |
136,544,764 |
(3.1%) |
1.5% |
|
Ordinary shares held in treasury |
4,958,574 |
770,236 |
543.8% |
– |
* The issued share capital on 15 July 2022 (latest practicable date) was 137,315,000 ordinary shares of which 6,433,670 were held in treasury.
|
KEY DATA
|
For the year to 30 April 2022 |
|
|
Local Currency % |
Sterling Adjusted % |
|
|
Benchmark |
||
|
Dow Jones World Technology Index |
(10.1) |
(0.9) |
|
Other Indices over the year (total return) |
||
|
FTSE World |
(3.8) |
5.8 |
|
FTSE All-Share |
8.7 |
|
|
S&P 500 Composite |
0.2 |
10.2 |
|
Nikkei 225 |
(5.0) |
(12.0) |
|
Eurostoxx 600 |
6.1 |
2.3 |
|
|
As at 30 April |
|
|
EXCHANGE RATES
|
2022 |
2021 |
|
US$ to £ |
1.2555 |
1.3846 |
|
Japanese Yen to £ |
162.66 |
151.34 |
|
Euro to £ |
1.1901 |
1.1502 |
|
For the year to 30 April |
||
|
EXPENSES |
2022 |
2021 |
|
Ongoing charges ratio # – |
0.84% |
0.82% |
|
Ongoing charges ratio including performance fee # – |
0.84% |
0.82% |
Data supplied by Polar Capital LLP and HSBC Security Services.
# Ongoing charges ratio represents the total expenses of the Company, excluding transaction costs, interest payments, tax and non-recurring expenses expressed, as a percentage of the average daily net asset value, in accordance with guidance issued by the Association of Investment Companies (“AIC”).
~ See Alternative Performance Measures provided in the Annual Report.
HISTORIC PERFORMANCE
|
As at 30 April |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Net Assets (£m) |
503.3 |
528.8 |
606.6 |
793.0 |
801.3 |
1,252.5 |
1,551.6 |
1,935.6 |
2,308.6 |
3,408.8 |
3,051.0 |
|
Share price (pence) |
387.0 |
398.5 |
442.0 |
592.0 |
566.0 |
947.0 |
1,148.0 |
1,354.0 |
1,774.0 |
2,364.0 |
2,040.0 |
|
NAV per share (pence) |
392.6 |
412.4 |
458.4 |
599.2 |
605.5 |
945.4 |
1,159.7 |
1,446.4 |
1,715.6 |
2,496.4 |
2,305.1 |
|
Indices of Growth1 |
|||||||||||
|
Share price |
100.0 |
103.0 |
114.2 |
153.0 |
146.3 |
244.7 |
296.6 |
349.9 |
458.4 |
610.9 |
527.1 |
|
NAV per share2 |
100.0 |
105.0 |
116.8 |
152.6 |
154.2 |
240.8 |
295.4 |
368.4 |
437.0 |
635.9 |
586.9 |
|
Dow Jones World Technology Index 3 |
100.0 |
106.0 |
119.8 |
155.1 |
155.0 |
237.7 |
278.2 |
337.8 |
399.0 |
584.0 |
578.9 |
The Company commenced trading on 16 December 1996 and the share price on the first day was 96.0p per share and the NAV per share was 97.5p.
Notes:
1 Rebased to 100 at 30 April 2012.
2 The NAV per share growth is based on NAV per share as adjusted for subscription shares.
3 Dow Jones World Technology Index (total return, Sterling adjusted) and from April 2013 with the removal of relevant withholding taxes.
All data sourced from Polar Capital LLP.