Polar Capital's UK equity team exits

In an update to the market, the boutique said the team’s departure will result in an outflow of $293m in the December quarter. Although it will not recruit a direct replacement for the UK managers, there is scope for other teams to join if the opportunity arises, Polar said. Hardy and team manage the Polar Capital UK Absolute Return fund, which has fallen 6.7% over the three years to 16 October, according to FE. Th group’s total AUM was 58% higher on 30 September 2013 than at 31 March at $11.4bn. Polar Capital recorded $3.2bn net inflows in its first half year with a “surprisi...