Polar to launch emerging markets income fund

Polar Capital is set to add an income fund to its recently launched global emerging markets range.

The fund will be run by the trio of managers the firm poached from Axa Framlington in July. Polar has already announced plans to launch a Global Emerging Markets Growth vehicle for the team in November. The new income mandate will target companies with dividend yields at least 50% higher than the MSCI Emerging Market index, currently 2.3%. Managers William Calvert, Ming Kemp and Neil Denman will hold 60 to 80 stocks in the Income product, compared to the 70 to 90 positions in GEM Growth. It is likely to favour sectors such as telecoms and consumer stocks. Calvert said income-hungry...