29th July 2015
Polar Capital Global Insurance fund co-manager winds down but the fund retains its Elite Rating
FundCalibre has decided to retain the Elite Rating on Polar Capital Global Insurance fund, despite one of the co-managers winding-down his fund management responsibilities.
Nick Martin and Alec Foster have run the fund together for the past 10 years, firstly at Hiscox Plc (where the fund was launched in 1998), then latterly at Polar Capital, where the fund was renamed Polar Capital Global Insurance.
Polar Capital have now announced that Alec Foster is reducing his fund management working hours at the end of this year, at which point he will take on more of a consultancy role.
Nick has 16 years experience in the industry working for Mazars Neville Russell Chartered accountants, where he specialised in audit and consultancy work for insurance companies and brokers, before joining Hiscox Plc in 2001.
Tony Yousefian of FundCalibre commented: “The impending change in Alec’s role, from the end of 2015, will mean he will have less of an impact on the fund and, whilst Nick Martin and the rest of team are more than capable of running the fund, they will need a period of time to prove that it is business as usual. We will retain the Elite Rating, but will be keeping an eye on the fund, and have penciled in a review meeting with them next year.”
Sign up to receive our free weekly newsletter.