UPDATE: This trust has been taken over by Verdane for 111p a share.
Augmentum Fintech (AUGM) invests in early-stage financial technology companies that are based in the UK and Europe. It was launched in 2018 with a portfolio of five companies bought from the Augmentum partnership, which had been set up in 2010 by the trust's managers, Tim Levene and Richard Matthews, and with the backing of RIT Capital Partners. Follow-on equity fundraises in 2019, 2020, and 2021 allowed AUGM to build up its portfolio to around two dozen investments. Eight disposals have been made so far including Interactive...
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UPDATE: A revised version of this profile was published in October 2025.
Polar Capital Global Financials has had a very eventful two years. It was launched in 2013 with a seven-year fixed life but in April 2020 shareholders voted to extend it indefinitely although 39% opted to have their cash returned in a tender offer. The trust's shares have risen by over 70% since then and the number in issue has risen from 123m to 312m, thanks to regular share issuance, a C share offer, and a placing completed this past week. Polar Capital Global Financials is the only trust in the AIC's Financials sector...
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