RCS - Polar Cap Tech Tst - Update from QuotedData

Polar Capital Technology TrustAnnouncement

14/06/2023 11:15

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RNS Number : 7167C  Polar Capital Technology Trust PLC  14 June 2023

 

Polar Capital Technology - Update from QuotedData

14(th) June 2023

Me, myself & AI

An inflection point in artificial intelligence (AI) - which combines computer
science and datasets to enable problem-solving - is close to being reached.
Major improvements in output and rapid adoption make the likelihood that it
will become a general purpose technology - technologies that can affect an
entire economy, like the computer and internet before it - and impact on all
parts of everyday life an inevitability.

Polar Capital Technology's (PCT's) manager, Ben Rogoff, has a steadfast
conviction in the all-encompassing potential of AI and has been positioning
the portfolio towards AI winners, with the majority of PCT exposure now in
companies that he believes will be AI beneficiaries.

It is estimated that between a quarter and two-thirds of jobs are exposed to
AI automation, with a meaningful uptick in productivity and economic output
expected as a result. A higher-than-usual cash position puts PCT in a good
position to take advantage of volatility in the market and any buying
opportunities that are thrown up in AI beneficiaries.

PCT's shares are currently trading at an excessively wide discount to net
asset value (NAV) of 13.4%, which seems attractive given the substantial
upside potential in the portfolio's exposure to AI beneficiaries.

Full Research:

https://quoteddata.com/research/polar-capital-technology-ai-qd/
(https://quoteddata.com/research/polar-capital-technology-ai-qd/)

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NB: Marten & Co was paid to produce this note on Polar Capital Technology
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encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
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