Polar Capital Raises GBP89M For Healthcare Investment Trust

14th Jun 2010 16:26

LONDON (Dow Jones)--Asset manager Polar Capital Holdings PLC (POLR.LN) Monday said it has raised GBP89 million for Polar Capital Global Healthcare Growth & Income Trust PLC, a newly-formed investment trust focused on global healthcare stocks. The company in April had said it aimed to raise around GBP100 million by listing the investment vehicle on the London Stock Exchange, to take advantage of what it considers undervalued, high-yielding stocks in the sector. Polar Capital, which had $2.5 billion under management at March 31, and already runs an LSE-listed, technology-focused investment trust, said most of the new capital came from private client wealth managers. Shares in the investment trust are to start trading on the LSE Tuesday. --By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; [email protected] (END) Dow Jones Newswires June 14, 2010 11:26 ET (15:26 GMT)