Polar Capital Global Financials Trust plc Fund Data

Global equity markets were mixed in July. The MSCI All Country World Index fell over 1% in sterling terms, but there was a sharp rotation in market leadership beneath the surface. The technology sector was particularly weak as momentum reversed sharply in companies exposed to AI-related semiconductor capital investment. Tensions in the Middle East re-escalated, triggering a sharp rise in the oil price which briefly hit $100 per barrel, only to fall back towards $80 as markets eventually looked through this uncertainty. Against that background, the Financials sector performed strongly, continuing June's positive momentum. The Trust's net asset value (NAV) rose 3.0% during the month, behind 4.9% from its benchmark, the MSCI All Country World Financials Index.

Global equity markets were mixed in July. The MSCI All Country World Index fell over 1% in sterling terms, but there was a sharp rotation in market leadership beneath the surface. The technology sector was particularly weak as momentum reversed sharply in companies exposed to AI-related semiconductor capital investment. Tensions in the Middle East re-escalated, triggering a sharp rise in the oil price which briefly hit $100 per barrel, only to fall back towards $80 as markets eventually looked through this uncertainty. Against that background, the Financials sector performed strongly, continuing June's positive momentum. The Trust's net asset value (NAV) rose 3.0% during the month, behind 4.9% from its benchmark, the MSCI All Country World Financials Index.