Investment manager Polar Capital has launched a UK absolute return equity fund. It will be managed by Guy Rushton, and aims to provide absolute positive returns over rolling 12-month periods by investing mainly in UK equities, but with some European and global equities.
The fund will have no benchmark or tracking error constraints and will use a fundamental approach to stock analysis. Share classes are in sterling, US dollar or euro currencies, and institutional shares have 1% annual management charge, with a performance fee subject to a high water mark.
Iain Evans, Polar Capital’s global head of distribution, commented: “Following a period of strong returns in developed equity markets, we are seeing growing interest from our investors for lower volatility, less directional strategies. We are launching our new UK Absolute Equity Fund in direct response to this demand.”