Polar Capital announced the launch of a new long/short absolute return fund that will be managed by the Global Convertible team. Using convertibles to get long exposure to companies, the fund will share characteristics with traditional Long/Short Equity and Convertible Arbitrage funds. The investments are split into five categories: equity hedged convertibles, asymmetric profiles, put trades, income/defensive investments and covered convertible call writing.

The fund targets a 5-8% net return with volatility of around 6%.