The Fund aims to achieve medium-term growth by investing in equities within Asian markets outside of Japan (including Australasia).
The Fund utilises, primarily, a bottom-up stock-picking approach with no preference to market capitalisations (within certain liquidity constraints). Added to this is a macro overlay which focuses on macroeconomic, structural and political trends both for specific countries and globally. Structural change is particularly important since investment positions are held for the medium term.
There is a focus on certain sectors where there is core competence including financials, technology, consumer and healthcare, so enabling the use of the global competence of Polar Capital in these areas, as well as the specific knowledge within the investment team. Within the financial sector the Fund Manager takes a balance sheet driven approach and looks at profitability adjusted for the risk of the business that is being written. The Fund Manager also runs a valuation approach which double checks their thinking by looking at the return on equity of a stock against the cost of capital. All stocks are run through a scoring system which provides a ranking of stocks on the basis of profitability, growth, risk, value and management. Research is internally driven and includes both spreadsheet work and also regular trips to Asia to meet the management of companies and the research contact base developed over the past 20 years.
- Team of 8 sector specialists
- Award-winning manager, 20+ years of Asian experience
- Typically 35‑65 positions
- No benchmark or tracking error constraints
- Fundamentally-driven analysis and stock selection
Fund Managers & Analysts
John joined Polar Capital in September 2010 and is fund manager of the Polar Capital Asian Opportunities Fund, Polar Capital Financial Opportunities Fund and co-manager of the Polar Capital Global Financials Trust Plc.
Previously, John worked for HSBC as a banker based in Hong Kong and was the head of Asian research at Fox-Pitt, Kelton. In 2003 he joined Hiscox Investment Management which later became HIM Capital. John has won Lipper awards in the equity sector banks and other financials sector in 2010, 2011, 2012 and 2013 for the performance of the Polar Capital Asian Opportunities Fund.
- BSc in Economics, London School of Economics and Political Science MBA, London Business School
- 30 years
George joined Polar Capital in September 2010 and works closely with John Yakas on the Polar Capital Financial Opportunities Fund and the Polar Capital Asian Opportunities Fund.
He has over 10 years’ experience analysing Europe, Asia and emerging markets. Prior to joining Polar Capital, he was an analyst at HIM Capital from 2008 where he completed his IMC.
- MA (Merit) in International Studies, SOAS (School of Oriental and African Studies), London
- IMC. Advanced Certificate in Equity & Fixed Income Investment
- 10 years
Nick joined Polar Capital in September 2010 following the acquisition of HIM Capital, and is manager of the Polar Capital Income Opportunities Fund and co-manager of the Polar Capital Global Financials Trust Plc.
Prior to joining HIM Capital, Nick worked at New Star Asset Management. While there he managed the New Star Financial Opportunities Fund, a high-income financials fund investing in the equity and fixed-income securities of European financials companies, which outperformed its benchmark index in all six years that Nick managed it. Previously, Nick worked at Exeter Asset Management and Capel-Cure Myers. At Exeter Asset Management, Nick managed the Exeter Capital Growth Fund from 1997 to 2003 which over this period was in the top decile of the IMA UK All Companies Sector.
- MSc in Finance, London Business School Diploma, CISI (Chartered Institute for Securities & Investment), London
- 24 years
Nabeel joined the Polar Capital Financials team as an analyst in August 2013 working closely with John Yakas and Nick Brind, focusing on the US, Latin America & Australia.
Prior to this, Nabeel worked as an operations executive at Polar Capital. Nabeel began his career in August 2008 with Habib Bank, where he worked within a variety of functions.
- BSc (Hons) in Computer Science, Lahore University of Management Sciences MSc in Money and Banking, University of Exeter
- Passed CFA Level III
- 7 years
Alec has been a partner of Polar Capital LLP since September 2010 and is adviser to the Polar Capital Global Insurance Fund which is managed by Nick Martin. Alec and Nick have worked together on the Fund for 15 years.
Alec joined Hiscox plc in 1976 where he was the Group Investment Officer until 2005. He was Managing Director of Hiscox Investment Management Ltd prior to the management buyout in 2007 when the business was renamed HIM Capital Ltd. Alec launched the Hiscox Insurance Portfolio Fund (now the Polar Capital Global Insurance Fund) in 1998.
- 51 years
Nick joined Polar Capital in September 2010 and is fund manager of the Polar Capital Global Insurance Fund (previously the Hiscox Insurance Portfolio Fund).
Nick has worked closely with Alec Foster since 2001 when he joined Hiscox plc. He participated in the management buyout of Hiscox Investment Management in 2007 when the business was renamed HIM Capital Ltd. He has developed a broad knowledge of the insurance sector during this time and from working for the chartered accountants, Mazars Neville Russell, where he specialised in audit and consultancy work for insurance companies and brokers.
- BSc (1st Class Hons) in Econometrics and Mathematical Economics, London School of Economics and Political Science
- Chartered Accountant. Member of the ICAEW
- 20 years
Dominic joined Polar Capital in October 2012 and is an investment analyst working with Alec Foster and Nick Martin on the Polar Capital Global Insurance Fund.
Dominic previously worked as part of KPMG’s insurance segment which he joined as a graduate trainee. At KPMG, Dominic obtained broad experience working on a range of global insurance companies through roles within M&A and IPO due diligence, audit and markets. Prior to KPMG he worked for a year in corporate finance focusing on natural resource companies.
- BA (1st Class Hons) in History, University of Newcastle-upon-Tyne
- Chartered Accountant. Member of the ICAEW
- 10 years
Jack joined the Polar Capital Financials team as an analyst in October 2017 working closely with Nick Brind on the Income Opportunities Fund.
Prior to this, he worked at DBRS Ratings, covering the Swiss market as a lead analyst, as well as UK, Dutch, Japanese and Australian banks. Before DBRS, Jack worked in the Markets Division of the Bank of England for four years, assessing financial institutions with a view to determining access to the Bank's Sterling Monetary Framework (SMF) facilities, and internal counterparty trading limits.
- BA, Classical Archaeology & Ancient History, Oxford University MA, Islamic Politics, SOAS (School of Oriental and African Studies), London
- 9 years
Cumulative Performance (%)
|US$ Class Dist||-8.02||-13.50||-18.10||-15.60||13.37||25.35||164.68||224.87||5.52|
Discrete Annual Performance (%)
Top 10 Positions (%)
|Alibaba Group Holding||3.7|
|China Construction Bank||3.1|
|Oversea-Chinese Banking Corp L||3.0|
|Bank Central Asia Tbk||3.0|
Market Capitalisation Exposure (%)
|Large Cap (>US$10bn)||74.1|
|Mid Cap (US$1 - 10bn)||23.1|
|Small Cap (<US$1bn)||2.9|
|Life & Health Insurance||5.9|
|Interactive Media & Services||4.5|
|Thrifts & Mortgage Finance||4.4|
|Internet & Direct Marketing Retail||3.7|
|Technology Hardware, Storage & Peripherals||3.5|
|Real Estate Development||3.5|
|Diversified Real Estate Activities||2.2|
Fact Sheet History
Tax & Distribution Reporting
Report & Accounts
Codes & Fees
|US$ Class Dist||ELDFEFI ID||IE00B7D5M829||B7D5M82||1.20%||*|
|US$ Class I Dist||POASOIU ID||IE00BYYDJL67||BYYDJL6||1.20%||-|
|GBP Class I Dist||POASOIG ID||IE00BDFF4R53||BDFF4R5||1.20%||-|
|GBP Class I Dist Hedged||POAOIGH ID||IE00BDFF4S60||BDFF4S6||1.20%||-|
|EUR Class I Dist||POASOIE ID|