RE: nearly all in sng3 Aug 2021 17:00
That’s incorrect.
Polar Capital have full discretion over what they hold in the portfolio. Funds might have a mandate which says they can only invest in certain areas and at certain limits, for example no single stock should exceed 10%. In addition, for open ended funds, if they have a lot of redemptions and clients selling their fund, they would have to raise the cash to pay back to the client.
For the investment trust (PCGH.LN) it works differently as this is a listed stock in its own right. And so you’d potentially see the discount to NAV widen (the underlying net asset value of the shares contained within the trust). Investment trusts can be great investment vehicles because if you get it right you can have the underlying shares like SNG perform well, and the discount to NAV narrow, for a double whammy of extra performance.