Polar Capital Technology Trust (LSE:PCT) reported total net assets of £7.32 billion as at 30 April, up from £3.80 billion a year earlier, in audited results for the financial year ended 30 April.
The trust, which invests globally in technology companies and benchmarks against the Dow Jones Global Technology Index, saw its benchmark register 258.95 million points at the year end, compared with 203.14 million a year earlier.
The results coincide with the 20th anniversary of Ben Rogoff's tenure as lead manager, during which the trust's NAV has risen 2,498%, outpacing the benchmark's 1,825% gain over the same period.
Fee changes that took effect on 1 May 2025 contributed to a reduction in the ongoing charges ratio from 0.77% to 0.69%, as the performance fee was scrapped entirely and the base management fee restructured to 0.75% on NAV up to £2 billion and 0.60% on NAV above that threshold.
"The Board maintains its high confidence in the continued success of Ben and the team," chair Catherine Cripps said, noting the quality of the investment team as a key factor in the trust's long-term performance record.
The MSCI ESG rating for both the portfolio and the benchmark stood at A as at 30 April.
