Specialist investment management company, Polar Capital, is planning to wind down its £31 million global macro hedge fund, The Polar Capital Discovery Fund, Citywire reports. As a result, the vehicle, which was managed by Paul Lambert, will lose £0.6 million. Polar Capital will also be returned about £3.5 million of its own investments in the fund. The Discovery fund was launched in May 2006 and invested in currencies and other macro instruments, including fixed income futures.

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