Morningstar Fund Report  | 05/04/2025Print

Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc
Fund16.324.21.426.83.5
+/-Cat-7.227.0-11.82.5-3.3
+/-B’mrk-6.022.9-8.20.20.3
 
Category: Sector Equity Financial Services
Category Benchmark: Morningstar Gbl Fin Svc TME...
Key Stats
NAV
03/04/2025		 GBP 13.43
Day Change -2.09%
Morningstar Category™ Sector Equity Financial Services
IA (formerly IMA) Sector Financials and Financial Innovation
ISIN IE00B5339C57
Fund Size (Mil)
03/04/2025		 GBP 2558.53
Share Class Size (Mil)
03/04/2025		 GBP 894.18
Max Initial Charge 5.00%
Ongoing Charge
29/11/2024		  0.83%
Morningstar Research
Analyst Report23/05/2024
Daniel Nilsson, Analyst
Morningstar, Inc

The knowledge and experience in place on Polar Capital Global Insurance provide high-quality coverage of the niche sector to investors. The team has clearly demonstrated the ability to build concentrated but suitably diversified portfolios that...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent24
Process24
Performance
Price
Investment Objective: Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc
The investment objective of the Fund is to provide an attractive total return irrespective of broader economic and financial market conditions. The Fund will seek to achieve its investment objective by investing primarily in securities of insurance related companies worldwide. These companies include insurance and reinsurance companies, life assurance companies, insurance brokerage companies and other insurance related businesses including, but not limited to, insurance claims administration companies, insurance support service companies and companies that own insurance related assets.
Returns
Trailing Returns (GBP)03/04/2025
YTD1.74
3 Years Annualised13.77
5 Years Annualised18.67
10 Years Annualised12.87
12 Month Yield 0.00
Management
Manager Name
Start Date
Nick Martin
31/05/2011
Dominic Evans
31/01/2022
Inception Date
31/05/2011

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI World/Insurance NR LCLMorningstar Gbl Fin Svc TME NR USD
Portfolio Profile for  Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.610.0099.61
Bond0.000.000.00
Property0.000.000.00
Cash0.390.000.39
Other0.000.000.00
Top 5 Regions%
United States72.01
United Kingdom9.36
Canada8.43
Europe - ex Euro6.59
Asia - Developed2.71
Top 5 Sectors%
Financial Services100.00
Top 5 HoldingsSector%
Arch Capital Group LtdFinancial ServicesFinancial Services9.04
RenaissanceRe Holdings LtdFinancial ServicesFinancial Services8.73
Chubb LtdFinancial ServicesFinancial Services6.54
Marsh & McLennan Companies IncFinancial ServicesFinancial Services6.38
WR Berkley CorpFinancial ServicesFinancial Services5.66
Increase Decrease New since last portfolio
Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Polar Capital Funds PLC - Polar Capital Global Insurance Fund I Acc
Category:  Sector Equity Financial Services
Category Index:  Morningstar Gbl Fin Svc TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return1.4823.26-5.5816.2824.201.3826.773.49
+/- Category14.814.10-1.40-7.1726.98-11.842.46-3.34
+/- Category Index----6.0222.87-8.190.190.32
% Rank in Category53451801904255
Trailing Returns (GBP)03/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-2.09   0.212.68
1 Week-1.12   2.134.25
1 Month-1.01   5.346.25
3 Months0.93   -2.213.38
6 Months3.24   -10.36-4.03
YTD1.74   -2.353.01
1 Year13.32   -3.55-0.96
3 Years Annualised13.77   2.333.24
5 Years Annualised18.67   0.720.55
10 Years Annualised12.87   3.943.13
 
Category: Sector Equity Financial Services
Category Index: Morningstar Gbl Fin Svc TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20253.49---
202415.050.126.213.62
2023-3.910.156.52-1.09
20228.901.481.4910.74
20214.610.832.827.22
2020-19.669.05-0.648.48
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageLow4 star
5-YearAverageLow4 star
10-YearHighLow5 star
OverallAbove AverageLow5 star
 
Category :  Sector Equity Financial ServicesClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev11.77 %
3-Yr Mean Return15.66 %
 
3-Yr Sharpe Ratio0.91
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Fin Svc TME NR USD  Morningstar Gbl Fin Svc TME NR USD
3-Yr Beta0.670.67
3-Yr Alpha4.544.54
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 17657-
Market Capitalisation% of Equity
Giant10.61
Large20.57
Medium38.78
Small25.52
Micro4.51
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings12.051.02
Price/Book1.651.15
Price/Sales1.450.69
Price/Cash Flow--
Dividend-Yield Factor1.280.40
 
Long-Term Projected Earnings Growth6.420.52
Historical Earnings Growth17.221.98
Sales Growth12.411.53
Cash-Flow Growth--
Book-Value Growth19.432.61
 
Category: Sector Equity Financial Services
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.610.0099.61
Bond0.000.000.00
Property0.000.000.00
Cash0.390.000.39
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States72.011.61
Canada8.434.34
Latin America0.000.00
United Kingdom9.361.21
Eurozone0.910.04
Europe - ex Euro6.590.32
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed2.712.26
Asia - Emerging0.000.00
 
Category: Sector Equity Financial Services
Sector Weightings28/02/2025
 % of EquityRelative to Category
Financial ServicesFinancial Services100.001.11
 
Category: Sector Equity Financial Services
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings35
Total Number of Bond Holdings0
Assets in Top 10 Holdings59.57
NameSectorCountry% of Assets
Arch Capital Group Ltd103United States9.04
RenaissanceRe Holdings Ltd103United States8.73
Chubb Ltd103Switzerland6.54
Marsh & McLennan Companies Inc103United States6.38
WR Berkley Corp103United States5.66
Progressive Corp103United States4.78
Markel Group Inc103United States4.76
Essent Group Ltd103United States4.69
Beazley PLC103United Kingdom4.54
Fairfax Financial Holdings Ltd Shs Su... 103Canada4.45
 
Increase Decrease New since last portfolio
Category: Sector Equity Financial Services
 
Management
Name of CompanyPolar Capital LLP
Phone44 (0)20 7227 2700
Websitewww.polarcapitalfunds.com
Address16 Palace Street
 London   SW1E 5JD
 United Kingdom
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date31/05/2011
Fund Advisor(s)
Polar Capital LLP
Fund ManagerNick Martin
Manager Start Date31/05/2011
 
Biography
Nick Martin joined Polar Capital in September 2010 and is manager of the Global Insurance Fund. Nick has worked closely with Alec Foster since 2001 when he joined Hiscox plc. He participated in the management buyout of Hiscox Investment Management in 2007 when the business was renamed HIM Capital Ltd. He has developed a broad knowledge of the insurance sector during this time and from working for the chartered accountants, Mazars Neville Russell, where he specialised in audit and consultancy work for insurance companies and brokers. He is a qualified chartered accountant and obtained a first class honours degree in Econometrics and Mathematical Economics at the London School of Economics.
Fund ManagerDominic Evans
Manager Start Date31/01/2022
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.83%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes