Polar Capital unveils absolute return vehicle

Boutique asset manager Polar Capital is launching a European absolute return fund.

The Polar Capital European Market Neutral fund will aim to achieve a net return of 10% per annum with low volatility, regardless of the direction of the European stock market, through investing in large and selected mid-cap European companies. It will also take synthetic short positions via derivatives and will typically hold 20-40 long positions and 20-40 short positions. The Dublin-domiciled fund will be run by Ton Tjia who joined the firm in October last year from Ratio Asset Management. Tjia said: "Europe has a wide diversity of high quality companies and despite the tough econ...