Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Polar Capital hires L&G's Rushton for UK absolute return launch

Polar Capital hires L&G's Rushton for UK absolute return launch

Polar Capital has hired L&G Investment Management's Guy Rushton to launch an absolute return fund for the boutique.

Rushton, who was co-manager of the Legal & General UK Absolute Return fund, will launch the Polar Capital UK Absolute Return fund by the end of September. He also previously managed the Legal & General UK Special Situations and UK Active Opportunities funds.   

His exit in May prompted L&G to close its Absolute Return fund.

The new comes less than a year after Polar closed down its UK equity desk, fronted by Philip Hardy, which included a UK absolute return fund. The division held $293 million (£182.2 million) at the time of the announcement in October 2013.  

Commenting on the appointment, Polar Capital chief executive Tim Woolley (pictured) said: 'We are delighted that Guy is joining us to head up this new initiative in the alternative funds arena and his appointment demonstrates our commitment to developing this side of our business further in the years ahead.

He added: 'Guy is one of the rising talents in the UK alternative space and we look forward to him developing a significant franchise for us over the coming years.'  

Rushton's exit is the latest in a string of departures at L&G Investment Management. These include US equity head Nigel Holland and Dynamic Bond trust manager Dickie Hodges.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter