Polar Capital looks to merge financials funds

Polar Capital is considering merging its European Financials into the Financial Opportunity fund, which launches next month.

John Yakas, who heads up the existing fund and will also manage the new offering, says the portfolios will offer shareholders the option of a rollover if they deem the vehicles to have overlapping themes. The Financial Opportunity fund will have a 35% exposure to Europe at launch, mainly looking to tap into banks in the region, a key theme in the European Financials fund. "Once we launch the global fund we will take a good look at it as the investors in the European fund might want a slightly broader vehicle. Then we will revist whether to continue with it or merge it into the global ...