Polar Capital Technology ISA
Polar Capital Technology Trust plc ("PCT") provides investors with access to the potential of companies in the global technology sector.
This investment trust fund was launched in 1996 and has grown to become a leading European investor with a multi-cycle track record. Managed by a team of dedicated technology specialists, the fund aims to maximise long-term capital growth by investing in a diversified portfolio of technology companies from around the world. The managers’ core belief in rigorous fundamental analysis, and being unconstrained by not following a benchmark, enables the fund to deliver global equity market outperformance through exposure to over 3,000 companies.
Disruption is powering many companies to change their business models which is creating opportunities for technology investors.
How To Invest In the Polar Capital Technology Trust Stocks & Shares ISA
Savers can invest either a one of deposit or make monthly instalments into the ISA and use the money to invest in the Polar Tech Trust fund.
You can access the Polar Capital Technology Trust via a range of platforms including Hargreaves Lansdown, Interactive Investor, AJ Bell and Fidelity.
In order to be eligible for a UK ISA you need to be:
- Aged 16 or over for a cash ISA.
- Aged 18 or over for a stocks and shares ISA.
- A resident of the United Kingdom.
- If you don’t live in the UK then you need to be a Crown Servant or their spouse/civil partner.
- You can open a Junior ISA for someone under 18 who you have parental responsibility for.
Types of ISA
There are two distinct types of ISA available: Cash ISAs and Stocks & Shares ISAs, which are considerable different from one another. ISA rules allow each eligible person to open up to one of each type of ISA each tax year, however if you do so you will need to break up your ISA allowance between the two accounts so as not to exceed it.
- Cash ISAs – Are a type of savings account. The interest that accrues on your saving however is paid tax-free up to your maximum allowance. Providers may offer different kinds of Cash ISA plans depending on how easily you would like to be able to access your cash to make withdrawals, generally speaking plans that offer more restricted access to your savings during their term also offer better rates of interests:
- Stocks & Shares ISAs – Are a kind of investment account that offers a tax-efficient wrapper for your money, you can use this kind of account to invest in various capital at risk products. Some Stocks & Shares ISAs are known as ‘self-select’ as they let you directly choose what stocks you invest in, other kinds of Stocks & Shares ISAs give you a selection of managed funds to pick from based on your attitude towards risk. Up to you maximum allowance you do not have to pay any Capital Gains Tax or Income Tax on profits made from the increase in value of your investments, you will still however be taxed on dividends. It is important to remember with these kinds of products that you may get back less money than you originally put in if the value of your investments decreases.
You can transfer ISAs to other providers or to another ISA with the same provider. However you may be charged an interest based penalty for doing so.