Polar Capital renames Income Opportunities fund

Tom Dorner and Jack Deegan appointed fund managers to the newly-named Polar Capital Financial Credit fund

|

Polar Capital has changed investment strategy on the Polar Capital Income Opportunities fund and renamed it to the Polar Capital Financial Credit fund.

In addition, the firm has appointed Abrdn’s Tom Dorner as fund manager for the global financials team, alongside Jack Deegan who has worked at Polar Capital since 2017.

The newly-named Polar Capital Financial Credit fund will continue to be managed by Nick Brind, but will now invest only in fixed income.

Polar Capital says this is due to the evolution of the market since the fund was launched in 2009, with financial bonds showing increased complexities and securities. The fund aims to complement the two equity-focussed funds under Polar Capital’s financials team.

See also: Branching Out: Polar Capital’s Donnigan on why ordering pizza is more reliable than getting biopsy results

Iain Evans, global head of distribution at Polar Capital, said: “We’re very pleased to be able to relaunch the Polar Capital Financial Credit Fund. The change in strategy to invest in fixed income only will enable the investment team to take advantage of the compelling opportunities in the financial credit market and to provide our investors with an attractive level of income.

“Over the long term, financial credit has provided good risk-adjusted returns to investors and we expect it to continue to do so.”

Dorner joined Polar Capital on 1 December as part of the global investments team. Previously, he was the senior investment director for the developed markets team at Abrdn as well as fund manager for the Abrdn Europe ex UK Income Equity fund. He also gained experience as an analyst at Citi and Lehman Brothers.

“I am delighted to be joining such a well-respected team and look forward to contributing towards the success of the franchise,” Dorner said.

Along with Dorner’s appointment, Deegan, who began as an analyst at Polar Capital in 2017, has been promoted to fund manager for the Polar Capital Financial Credit fund.

“It is a pleasure to welcome Tom to Polar Capital as well. We look forward to him building on his significant expertise and sharing his wealth of experience as both a fund manager and investment analyst,” Evans said.

“Along with Jack’s promotion to fund manager, these moves reinforce our commitment to the financials sector and I am sure they will both further enhance Polar Capital’s position in this critical area.”

Latest Stories