Polar Capital Global Financials Tst Update from QuotedData
07 Juin 2023 - 2:36PM
RNS Non-Regulatory
TIDMPCFT
Polar Capital Global Financials Tst
07 June 2023
Polar Capital Global Financials Trust - Update from
QuotedData
7(th) June 2023
Avoiding mishaps
After years of squeezed margins thanks to ultra-low interest
rates, banks' profitability is increasing (in part, as the spread
between the interest rates that they pay on deposits and the rates
that they charge borrowers widens). However, higher rates have
brought increased recession risk and, as we discuss from page 4
onwards, have exposed inept risk management within some US regional
banks, with some high-profile bank failures.
The managers of Polar Capital Global Financials Trust (PCFT)
were quick to cut exposure to more exposed areas of the sector,
while increasing PCFT's weighting towards areas such as insurance
and reinsurance, where the picture looks brighter.
Sentiment has turned against the financials sector once more,
but as investors find assurance that the problems are stock
specific rather than sector-wide, this could swing back in PCFT's
favour.
Full Research:
https://quoteddata.com/research/polar-capital-global-financials-trust-avoiding-mishap-qd/
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June 07, 2023 08:36 ET (12:36 GMT)
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