Polar Capital Technology beats benchmark in H1

Polar Capital Technology Trust plc reported a 5.7% rise in NAV per share to 333.11p over the six months to October 31, compared with a fall of 2.5% in the benchmark Dow Jones World Technology index (sterling adjusted).

The trusts's share price was up 6.9% in the period.

Its board is considering a bonus issue of subscription shares to shareholders.

The trust said the outlook for the technology sector looked favourable in 2011, particularly for next-generation companies. The new technology cycle continued to unfold, 'driven by cloud computing, broadband applications and ubiquitous computing'.

Story provided by StockMarketWire.com

13/12/2010