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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.