Julian Barnett, the former star-performing manager of the
Polar Capital Paragon fund, is shutting down his Ridley Park
Capital operation after concluding that his style of long-term
concentrated equity investing is not suited to running pooled
funds in the current market environment.
Since launching his own Ridley Park Paragon long/short
equity fund in May 2010, more than a year after leaving Polar
at the start of 2009, the performance has been disappointing.
After a good start in 2010, the fund went on to lose 27% in
2011 and is up this year by 6.5% to the end of October (despite
losing 10% in May).
Although the fund’s assets under management
have reduced by around 40% from their launch size of some $350
million as a result of the...