Polar Capital warning over absolute return promises

Polar Capital is criticising absolute return vehicles which promise returns in any market, without s...

Polar Capital is criticising absolute return vehicles which promise returns in any market, without sufficient track records. Fund manager Phil Hardy, who runs the company's UK Absolute Return fund, says because of the number of products coming to market, investors may be convinced into buying something they presume is safe. "New funds continue to be launched - covering a range of strategies, geographies and sectors - luring investors with the promise of positive returns irrespective of prevailing market conditions. "Unfortunately, not all funds have fully lived up to this promise and...