Polar Capital set to soft-close three funds

Boutique asset manager Polar Capital is preparing to soft-close three of its most high profile funds, including the £446m Global Technology fund.

Strong inflows into the Global Technology, Japan and Global Insurance funds have pushed the portfolios closer to capacity, said Iain Evans, head of UK sales. In its latest trading update Polar Capital reported $554m of inflows into its long-only funds for the three months ending in June this year. However, the statement also said the boutique is more cautious over future inflows due to macroeconomic headwinds in Europe and the US. Evans said the Global Technology fund, now $718m in size, will be reviewed for soft-closure at $1bn. The Technology sector has lost 0.62% on average ...