Polar Capital shuts 300 million sterling UK equity fund

(Reuters) – Asset manager Polar Capital said on Wednesday that the directors of its UK Absolute Equity Fund have decided to terminate the fund with effect from next month.

The decision to shut the fund, whose assets under management totalled 290 million pounds ($361.57 million) in early April according to Morningstar data, was immaterial to the core profitability of the group, Polar Capital added.

(Reporting by Muvija M in Bengaluru; editing by Carolyn Cohn)