First launched in 1996, Polar Capital Technology Trust plc (PCT) today enters the prestigious FTSE 100 Index for the first time.

Commenting on the news, Gavin Rochussen, Chief Executive of Polar Capital, said:

“This marks a significant milestone and is a testament to the many years of hard work, dedication and expertise of lead manager Ben Rogoff, who has managed the trust since 2006, along with Deputy Manager Alastair Unwin and the wider Polar Capital Technology team.

“Originally launched in 1996 as Henderson Technology Trust plc, the management contract was transferred to Polar Capital in 2001, shortly after the firm was established by then-fund managers Tim Woolley and Brian Ashford-Russell. Having witnessed the company grow to £4.6bn in assets, we would like to sincerely thank the Board of the Trust, past and present, and our many investors for their continued support.”

Catherine Cripps, Chair of PCT, added:

“Through what has been a challenging period for the investment trust sector, it is pleasing to see Polar Capital Technology Trust go from strength to strength, under the diligent stewardship of Ben Rogoff, Alastair Unwin and the Polar Capital Technology team. To enter the FTSE 100 Index is no ordinary feat and I and my fellow board members are delighted to see the Company reach this milestone.“

Lead Fund Manager, Ben Rogoff, commented:

“It has been a great privilege to be part of the Polar Capital Technology Trust journey, which began nearly 25 years ago. In the early days, Brian had to convince UK investors of the merits of technology investment; today, our companies need no introduction.

“PCT’s progress would not have been possible without the support of Nick Evans, Fatima Iu, Xuesong Zhao, Ali Unwin and our investment team, as well as countless others at Polar Capital. I am also grateful to the Board—past and present—for its unwavering support and stewardship over the years.

“More than anything, our inclusion in the FTSE 100 Index reflects the extraordinary nature of technology, its ability to reinvent industries, create massive new markets and drive superior returns for investors. Technology has conquered distance, connected billions and democratised knowledge. Today, rapid innovation is propelling AI towards superhuman capability. While market fluctuations are inevitable, PCT is well positioned for the AI-era which we expect to be one of the most exciting and transformative investment opportunities of our lifetimes.”