Polar Capital, the British specialist investment management company, plans to launch Global Financials Investment trust for managers John Yakas and Nick Brind.
The asset manager is looking to raise at least GBP100 million (US$152.42 million) for the investment trust and plans to list it on the London Stock Exchange at the end of June 2013.
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Polar Capital said the trust will have a fixed life structure, running for seven years, and will invest predominantly in banks across the globe.
The trust will invest approximately 70% of its assets in banks from across the globe to take advantage of the low valuations in the sector, focusing particularly on banks in Europe and emerging markets.
The trust will be the third financials fund from Polar Capital as Yakas currently manages a Financial Opportunities fund and Brind runs the Financials Income fund.
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