Scottish Mortgage to Polar Capital Tech Trust

[toofast2live]

Audited results for Year to 30th April for Polar Capital Technology Trust (PCT). Results look pretty good ("strong") triggering a performance fee. "

There is another reason for not buying PCT. I would not buy a trust which is prepared to pay a performance fee. These are out dated and a one way benefit to the manager.
D
Dod

Er, only if they perform. Ie I’ve not paid any fee on Woodford’s Patient Capital.

[Dod101]

Yes I know, but if you are being serious, Patient Capital is a special case in most senses. With PCT you are paying Ongoing Charges of 0.95% in any case and if they exceed their benchmark a performance fee in addition. The OC is quite high enough surely and if the managers underperform there is no clawing back of any of the Ongoing Charges so it is as I said a one way benefit to the managers. Many trusts have now removed the performance fee.

Dod