Polar Capital has announced that it has accepted the resignation of Julian Barnett, the portfolio manager of the Polar Capital Paragon Fund.

Barnett has for personal reasons decided to take a break from the investment industry.

He will continue to manage the Paragon Fund until it is wound down and funds are returned to investors - expected to be in line with the standard quarterly liquidity terms of the fund - at which point he will leave the company.

Both Barnett and the company have confirmed that the departure is amicable.

Polar Capital Holdings is a specialist asset management group which seeks to build a broad family of funds diversified by asset class, geographical and sectoral specialisation, strategy and structure.

Polar Capital Partners was established in January 2001 as a research driven investment management company.

A substantial majority of the business is owned by management and staff. Caledonia Investments, a London listed investment trust, and XL Capital, the Bermudan resident NYSE listed provider of insurance services, are the only two substantial outside shareholders.

Its county of incorporation and main country of operation is the UK.