Polar Capital plans global convertibles fund launch

Polar Capital is planning to launch a UCITS global convertibles fund with a long bias run by its experienced global convertibles team.

The fund will be an extension of the group's existing Polar Capital ALVA Global Convertible hedge fund, domiciled in the Cayman Islands. The group launched the hedge fund - run by David Keetley and Steve McCormick - in 2010, after poaching both from Vicis Capital. The strategy has so far gathered around $40m in assets according to Trustnet data, and the group is keen to create a similar product which has a long bias. The new fund, Polar Capital Global Convertibles fund aims to produce equity-like returns as well as income, but with less volatility than equities. It will target inve...