The Global Financials Investment Trust would invest around 70% of its capital in banks, with the remainder being allocated to other financial institutions. It would also allocate around three quarters to stocks outside the US and the UK.
The firm has two existing investment trusts, the Technology Trust and the Global Healthcare Growth and Income Trust.
John Yakas and Nick Brind have been named as managers. Yakas is currently a portfolio manager on the Asian equities desk, and heads up the Polar Capital Financial Opportunities Fund.
The fund currently has around $28m under management and its top three holdings are Security Bank Corp, Bank Rakyat Indonesia and Jammu & Kashmir Bank.
Brind focuses on financials and according to FE has significantly outperformed his peer group over three years, 38.2% versus the average 18.6%.
He manages the Polar Capital Financial Income Fund, which is ranked as the top performing fund in its sector over three years. Its performance over the past six months is shown in the graph.
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