CityWire – The Polar Capital Discovery fund, a £31 million global macro hedge fund, is to wind up. The wind up process will begin immediately, Polar Capital told its investors, and the move will result in a loss of £0.6 million.
The decision to close the vehicle, which was run by Paul Lambert, was taken at a board meeting on 5 January. After the meeting it was announced investors should see their capital returned in around four weeks’ time, as well as being advised that the loss realised by the closure was fully covered.
