Positive returns on Polar UK AR vehicle continue

Polar's UK Absolute Return fund recorded its third consecutive month of positive performance, up 5.0...

Polar's UK Absolute Return fund recorded its third consecutive month of positive performance, up 5.04% over April. While the UK equity-invested long/short vehicle underperformed the FTSE All-Share, which was up nearly 10% in the same period, it says its biggest performance drivers were from among the cyclical long holdings, including a 2.9% position in ITV. According to its 30 April factsheet, the fund had a more than 35% net long position in cyclical stocks and an additional 7% net long on financials. Manager Philip Hardy says the relative short position on the FTSE 250 Index diminis...