Polar Capital Shutters Lotus Fund

Feb 13 2008 | 11:57am ET

U.K.-based Polar Capital has closed its second hedge fund in as many months. The firm has closed its Lotus Fund Limited, saying it is “no longer viable and should be wound up and closed in an orderly fashion.”

Last year, the fund “experienced a period of disappointing performance both relative and absolute,” losing approximately 12%, according to the firm. Lotus was valued at approximately U.S.$54 million at the end of January.

The firm said at this value, a significant proportion of the fund’s assets would be consumed by the costs involved in running the fund making it uneconomic for the manager to continue to manage the vehicle.

Last month, Polar closed its Technology Absolute Return hedge fund citing similar reasons. The firm currently manages some US$3 billion in 10 long/short strategies and four long-only ones.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...