Continued from page1 Polar Capital said that for the bulk of the advisory community the best way ...
Continued from page1
Polar Capital said that for the bulk of the advisory community the best way to access the funds will be through fund of funds offerings. The Credit Suisse Asset Management multi-manager team has already shown strong interest in Salter's fund.
Polar has not ruled out making deals with large UK intermediary firms. Terms of entry into the funds are subject to negotiation. The main target market for the funds are private banking institutions, limited numbers of stock brokers, family offices and larger discretionary managers.
According to James Brandt, sales and marketing director at Polar Capital, the group will cap the two funds. Brandt said that a large component of the Polar Capital brand is a recognition of the inverse correlation between size of assets under management and investment returns.
Polar intends to cap both funds at around $250m each, although investors already in the funds at that point will be able to commit more assets to them.
Woolley joined Polar from Henderson Global Investors with colleague Brian Ashford-Russell after becoming dissatisfied with running such a large amount of assets. At the point they left, taking the then £800m Henderson Technology investment trust, now the Polar capital Technology investment trust, the Henderson Technology unit trust had around £1.3bn in assets under management.
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