Polar Capital plans to introduce a fund investing in global financial stocks following its acquisition of specialist financials investor HIM Capital.
The financial opportunities fund will be managed by John Yakas and regulated under Ucits III.
Polar expects to set up the Dublin-domiciled fund next month. It will seek out opportunities in the recovering US and European markets and will favour bigger companies and the banking sector.
The fund will be launched with a bias towards emerging markets. Yakas considers the region to be more interesting in terms of the profitability and growth of its financial sectors.
He says the fund will aim to increase investors’ capital rather than focus on collecting dividend income.
Yakas, who also runs the Asian and European financials funds, says investors have an appetite for financials but the funds Polar Capital offers are too specialised.
Hargreaves Lansdown senior analyst Meera Patel says: “They face stiff competition in this field and need to offer something different to investors.”