Polar Capital Holdings

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My Approach to Investing

Summary

I focus my efforts on small and mid-sized companies searching for those where the growth prospects are not reflected in the share price. I am disciplined about the valuation I am prepared to pay; I don’t like to pay over 20x forecast earnings and favour companies that are paying a growing dividend and have a prospective dividend yield of at least 2.0%. I search for companies generating strong cash flow and if not having net cash, then debt levels that is low to moderate. Where possible I like to meet management and understand what makes them tick and if they have a decent stake in the business so much the better; our interests are aligned! I like companies that are beating expectations and earnings forecasts are being upgraded. Ultimately I am looking for the “double whammy” that comes from a re-rating and from faster than expected earnings growth. Having found a potential investment I look at the share price chart as it can help with timing; so often resistance and support levels work. I size a position based on my assessment of the potential Risk and Reward of the stock. I hold between 20 and 30 holdings, making use of investment trusts for overseas or thematic exposure.

The most important number to me is the return of the Portfolio! I try not to get too emotionally involved with individual companies; if I cut a holding and it immediately bounces, so be it. All that matters is the return of the Portfolio, each month, each year, each decade!

I invest principally in the UK

I invest mainly in UK stocks as that is where I have gained my experience. There are clearly opportunities to invest in overseas companies, and it is fair to say that it is now much easier to get the information you need. I think that for a private investor, such as myself, with limited time resources, it is better not to spread my net too wide. For me, it makes sense to focus my efforts on a market where I have experience and familiarity.

I focus on mid and small-sized companies

I focus on mid and small-sized companies but not exclusively.

The FTSE 100 Index comprises the largest 100 companies and by value accounts for around 70% of the UK market, The FTSE 250, (the next 250 companies) accounts for about 25% of the market by value, and the FTSE Small Cap, FTSE Fledgling and FTSE AIM, the remainder.

The table below shows the percentage returns over 1, 3, 5, and 10 years to 31st December 2020

My Approach to Investing

Summary

I focus my efforts on small and mid-sized companies searching for those where the growth prospects are not reflected in the share price. I am disciplined about the valuation I am prepared to pay; I don’t like to pay over 20x forecast earnings and favour companies that are paying a growing dividend and have a prospective dividend yield of at least 2.0%. I search for companies generating strong cash flow and if not having net cash, then debt levels that is low to moderate. Where possible I like to meet management and understand what makes them tick and if they have a decent stake in the business so much the better; our interests are aligned! I like companies that are beating expectations and earnings forecasts are being upgraded. Ultimately I am looking for the “double whammy” that comes from a re-rating and from faster than expected earnings growth. Having found a potential investment I look at the share price chart as it can help with timing; so often resistance and support levels work. I size a position based on my assessment of the potential Risk and Reward of the stock. I hold between 20 and 30 holdings, making use of investment trusts for overseas or thematic exposure.

The most important number to me is the return of the Portfolio! I try not to get too emotionally involved with individual companies; if I cut a holding and it immediately bounces, so be it. All that matters is the return of the Portfolio, each month, each year, each decade!

I invest principally in the UK

I invest mainly in UK stocks as that is where I have gained my experience. There are clearly opportunities to invest in overseas companies, and it is fair to say that it is now much easier to get the information you need. I think that for a private investor, such as myself, with limited time resources, it is better not to spread my net too wide. For me, it makes sense to focus my efforts on a market where I have experience and familiarity.

I focus on mid and small-sized companies

I focus on mid and small-sized companies but not exclusively.

The FTSE 100 Index comprises the largest 100 companies and by value accounts for around 70% of the UK market, The FTSE 250, (the next 250 companies) accounts for about 25% of the market by value, and the FTSE Small Cap, FTSE Fledgling and FTSE AIM, the remainder.

The table below shows the percentage returns over 1, 3, 5, and 10 years to 31st December 2020

ABOUT ME

I launched this website in January 2012 so that I could share with other investors how I manage my investment portfolio; the JIC Portfolio.

There is complete transparency with the current portfolio and all transactions shown. I explain all trades through my blog and hope the site provides food for thought to more experienced investors as well as helping those who are new to managing their own portfolios. I believe JohnsInvestmentChronicle is unique: There are plenty of “tipsters” who will remind you of the “good ones” and quietly forget the disasters; I do not have that luxury as the Portfolio is there for all to see, backed with real money; mine! I have to confront my mistakes and deal with them; there is no hiding place! Above all, this is a true expose of the trials and tribulations of a private investor!

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Polar Capital Holdings: H1 Results

Polar Capital Holdings: H1 Results

Polar Capital Holdings: H1 Results

Polar Capital Holdings (POLR.L, Market Capitalisation: £525m, 548p, 5.1% of JIC Portfolio) www.polarcapital.co.uk Polar Capital is a specialist, investment-led, active fund manager. It says it has a collegiate and meritocratic culture where the capacity of investment strategies is managed to enhance and protect performance. Interim results for the six months ended 30 September HERE Conclusion: We knew the AUM numbers from a previous update. It’s good to see it has grown f

Nov 174 min read

Polar Capital Holdings - AUM update shows encouraging uplift

Polar Capital Holdings - AUM update shows encouraging uplift

Polar Capital Holdings - AUM update shows encouraging uplift

Polar Capital Holdings (POLR.L, Market Capitalisation: £520m, 542p, 5.1% of JIC Portfolio) www.polarcapital.co.uk Polar Capital is a...

Oct 92 min read

JIC Portfolio Trades - Two trades. One position was sold completely and added to an existing position

JIC Portfolio Trades - Two trades. One position was sold completely and added to an existing position

JIC Portfolio Trades - Two trades. One position was sold completely and added to an existing position

#jicportfoliotrade

Aug 141 min read

JIC Portfolio: Short Review of each of my holdings (III)

JIC Portfolio: Short Review of each of my holdings (III)

JIC Portfolio: Short Review of each of my holdings (III)

Bloomsbury Publishing: 4.4% of the portfolio and a total return of 24.9% so far. The performance of Bloomsbury has been disappointing in...

Aug 143 min read

Polar Capital Holdings - Solid results and dividend maintained

Polar Capital Holdings - Solid results and dividend maintained

Polar Capital Holdings - Solid results and dividend maintained

Polar Capital Holdings (POLR.L, Market Capitalisation: £455m, 480p, 3.3 % of JIC Portfolio) www.polarcapital.co.uk Polar Capital is a...

Jun 304 min read

JIC Portfolio Trades - Increasing cash through multiple sales

JIC Portfolio Trades - Increasing cash through multiple sales

JIC Portfolio Trades - Increasing cash through multiple sales

I have decided to raise a little cash in the JIC Portfolio. We are not far off the usually volatile summer months and there must be a...

May 221 min read

Polar Capital Holdings - AUM at 31 March

Polar Capital Holdings - AUM at 31 March

Polar Capital Holdings - AUM at 31 March

Polar Capital Holdings (POLR.L, Market Capitalisation: £346m, 365p, 3.9 % of JIC Portfolio, 4.0% target) www.polarcapital.co.uk Polar...

Apr 141 min read

Four buy trades in JIC Portfolio - Added to existing positions.

Four buy trades in JIC Portfolio - Added to existing positions.

Four buy trades in JIC Portfolio - Added to existing positions.

I have just added to four of my positions. In most cases they have sufferred big falls in the last week and are now in oversiold...

Apr 71 min read

Polar Capital Holdings - AUM increase again

Polar Capital Holdings - AUM increase again

Polar Capital Holdings - AUM increase again

Polar Capital Holdings (POLR.L, Market Capitalisation: £456m, 480p, 3.8 % of JIC Portfolio, 4.0% target) www.polarcapital.co.uk Polar...

Jan 133 min read

Polar Capital Holdings: Dividend maintained -"positive outlook"

Polar Capital Holdings: Dividend maintained -"positive outlook"

Polar Capital Holdings: Dividend maintained -"positive outlook"

Polar Capital Holdings (POLR.L, Market Capitalisation: £486m, 512p, 4.0 % of JIC Portfolio, Medium Risk/High Reward = 4.0% target)...

Nov 18, 20244 min read

Polar Capital Holdings - Assets under Management on 30 September

Polar Capital Holdings - Assets under Management on 30 September

Polar Capital Holdings - Assets under Management on 30 September

Conclusion: It focuses on the increase in assets under management over the six months ending 30 September, the first half of its...

Oct 10, 20242 min read

Current thoughts on my positions: Part II

Current thoughts on my positions: Part II

Current thoughts on my positions: Part II

Serica Energy is 123p, 5.4% of the JIC Portfolio. My last comments were yesterday, when I added to my position at 113p. I watched the...

Sep 11, 20247 min read

Polar Capital Holdings - Assets under management grows further, helped by net inflows

Polar Capital Holdings - Assets under management grows further, helped by net inflows

Polar Capital Holdings - Assets under management grows further, helped by net inflows

Polar Capital Holdings (POLR.L, Market Capitalisation: £552m, 582p, 4.5 % of JIC Portfolio, Medium Risk/High Reward = 4.0% target)...

Jul 11, 20243 min read

Polar Capital Holdings - Results - Dividend maintained, Assets under Management growing

Polar Capital Holdings - Results - Dividend maintained, Assets under Management growing

Polar Capital Holdings - Results - Dividend maintained, Assets under Management growing

Polar Capital Holdings (POLR.L, Market Capitalisation: £549m, 541p, 4.2 % of JIC Portfolio, Medium Risk/High Reward = 4.0% target)...

Jun 27, 20244 min read

Polar Capital Holdings - Super Q4 and net inflows at last

Polar Capital Holdings - Super Q4 and net inflows at last

Polar Capital Holdings - Super Q4 and net inflows at last

Polar Capital Holdings (POLR.L, Market Capitalisation: £463m, 457p, 4.0 % of JIC Portfolio, Medium Risk/High Reward = 4.0% target)...

Apr 11, 20244 min read

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

#jicportfoliotrade

Feb 2, 20241 min read

Polar Capital Holdings - Encouraging Q3

Polar Capital Holdings - Encouraging Q3

Polar Capital Holdings - Encouraging Q3

Polar Capital Holdings (POLR.L, Market Capitalisation: £459m, 453p, 5.3% of JIC Portfolio, Medium Risk/High Reward = 5.0% target)...

Jan 11, 20243 min read

Polar Capital Holdings - Interim Results - Resilient

Polar Capital Holdings - Interim Results - Resilient

Polar Capital Holdings - Interim Results - Resilient

Polar Capital Holdings (POLR.L, Market Capitalisation: £457m, 451p, 5.5% of JIC Portfolio, Medium Risk/High Reward = 5.0% target)...

Nov 20, 20234 min read

JIC Portfolio Trade - Added to position, taking it to target 5.0%.

JIC Portfolio Trade - Added to position, taking it to target 5.0%.

JIC Portfolio Trade - Added to position, taking it to target 5.0%.

#jicportfoliotrade

Oct 18, 20231 min read

Falling Review Price catchup and thoughts; it's tough out there.

Falling Review Price catchup and thoughts; it's tough out there.

Falling Review Price catchup and thoughts; it's tough out there.

I’ll start with a story. On 9th October, I was asked if I knew why Shoe Zone was down 10 per cent on the day, having already fallen by 15...

Oct 17, 20235 min read

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