Polar Capital Holdings will launch a British stock hedge fund in June on the Irish Stock Exchange.
Pending approval from Irish authorities, the UK Absolute Return Fund will debut on June 3, Thomson Financial reports. The firm plans to register the fund with the U.K. Financial Services Authority, making it available to on-shore British investors.
The new fund will invest in European and global equities in addition to its primary focus on the U.K. It will be managed by Philip Hardy, who says increased volatility in British stocks bodes well for his new fund.
“With the outlook now being less predictable and risks skewed to the downside, the ability to establish short positions and identify secular trends and pricing anomalies I becoming increasingly important,” he said.