Polar launches European long-short fund

Polar Capital has launched the Polar Capital European Market Neutral fund for manager Ton Tjia who joined at the end of last year.

The new launch is a Dublin-domiciled Ucits fund, and will target a net return of 10% per annum with low volatility.

According to Polar, the fund will hold between 20 and 40 long positions and 20-40 short positions.

Ton Tjia, lead manager of the fund, says: “Europe has a wide diversity of high quality companies and despite the tough economic environment, there is a great deal of very attractive investment candidates. (article continues below)

“Our stock selection is based on fundamental analysis and the fund will have low volatility and a low correlation to the FTSE European Total Return Equity index.”

Tim Woolley, chief executive of Polar Capital, adds: “The launch of the fund marks the continued growth of Polar Capital’s business and its continued efforts to offer clients best in class teams and products.”