Polar Asset Management ditches hedge fund and starts something new
The hedge fund Polar Multi Asset was supposed to short stocks expecting Dow Jones and Nasdaq declines in August. This is not how it turned out and now Polar is withdrawing and starting a new fund instead.
BY MAGNUS EIDEM
In March, Polar Asset Management started a hedge fund with a NOK 50m capital (EUR 4.7m), which in the month of August would use the declining stock market caused by the Covid-19 pandemic to create returns through short-selling. This is not how it happened.
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