Polar Capital Shutters Lotus Fund

Feb 13 2008 | 10:57am 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

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note