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Founded in 1996, Polar Capital Technology Trust‘s (LSE:PCT) a stock that won’t appeal to those on the lookout for passive income opportunities. That’s because it doesn’t pay a dividend. In fact, it never has. And it’s the only current member of the FTSE 100 that adopts this approach to shareholder distributions.
Instead, it focuses on capital growth.
Recent performance
During the five years to 31 May, the trust’s share price has increased 71% and its net asset value’s risen 119%.
This compares favourably to another FTSE 100 technology-focused trust – Scottish Mortgage Investment Trust – that’s seen its share price rise by 38% during this period. However, this fund invests heavily in unquoted companies, which can be difficult to value.
By contrast, much of Polar Capital’s growth can be attributed to having positions in each of the ‘Magnificent 7’. At…
