Polar Capital hires L&G's Rushton for absolute return launch

Polar Capital has hired L&G's Guy Rushton to head a new UK absolute returns team, with a first fund launch slated for Q3.

The firm said it expects to launch a UK Absolute Equity fund by the end of September for Rushton, who ran a similar mandate at L&G. Rushton ran the £88m UK Absolute fund until May, when L&G closed the mandate and moved away from long/short equity strategies. He also managed the group's UK Special Situations and UK Active Opportunities funds. Prior to this he worked as a healthcare equity analyst at Clear Capital. Tim Woolley (pictured), chief executive of Polar Capital, said: "We are delighted that Guy is joining us to head up this new initiative in the alternative funds arena a...