Legal and regulatory
Terms of use and disclosures By accessing this site, you signify your agreement with and understanding of the following terms of use and legal information pertaining to both this website and any information contained in it. This website is offered to you conditional on your acceptance without modification of the terms, conditions, and notices contained herein. Your use of this site constitutes your agreement to all such terms, conditions, and notices. Polar Asset Management Partners (“Polar”) reserves the right to change the terms, conditions, and notices under which this site is offered.
Information on this website The information provided on this website is for general informational purposes only. This website, and any information contained in it, is not, and under no circumstances is to be construed as, an invitation to make an investment in any funds (“Funds”) advised by Polar, nor does it constitute a public offering, solicitation or an offer to sell the Funds or buy or sell any other securities. It should not be relied upon when evaluating the merits of a potential investment in any securities. Performance data represents past performance and is not indicative of future performance.
Applications for the Funds will only be considered on the terms of the applicable offering memorandum and access to information about the Funds is limited to eligible investors who, among other requirements, qualify as accredited investors within the meaning of their respective local laws.
Facts and information provided on this website are believed to be accurate at the time they are posted. Although every effort has been made to ensure that the material contained herein is accurate, Polar does not guarantee its accuracy or completeness. Changes may be made at any time to the information on this website without prior notice. As such, Polar and its affiliates do not accept responsibility for any loss arising from the use of, or reliance on, the information contained herein.
This website provides links to other websites and resources. Such links are provided for your reference only. We do not control these sites and resources, and are not responsible for their availability, content or delivery of services. External sites are not bound by Polar’s online privacy policy; they may have their own policies or none at all. The inclusion of the links to other websites does not imply any approval or endorsement of the material on such websites.
Privacy policy Polar is committed to protecting the privacy and confidentiality of all Personal Information of Polar Clients and Fund Investors and potential clients and investors. Personal Information is information about an identifiable individual, including a Polar employee, recorded in any format and includes, but is not limited to, such things as race, ethnic origin, colour, age, marital status, religion, education, medical, criminal, employment or financial history, home address and home telephone number, numerical identifiers such as a social insurance number, and views and personal opinions (collectively, “Personal Information”). Personal Information does not include the individual’s name, title, business address or business telephone number. This Privacy Policy describes how Polar collects, holds, uses and discloses Personal Information. This Privacy Policy is in accordance with the standards set out in the Personal Information Protection and Electronic Documents Act (Canada).
Accountability Polar is responsible for Personal Information under its control and has designated the CCO as the Privacy Compliance Officer who is accountable for ensuring compliance by Polar with this Privacy Policy. Polar is also responsible for Personal Information that has been transferred to, or received from, a third party for processing or storage.
Information collected, purpose, and consent Polar collects Personal Information from Polar Clients and Fund Investors and potential clients and investors in order to provide services in connection with an investment in a Polar Fund and/or Polar Managed Account, to fulfill legal and regulatory obligations and for any other purpose to which a Polar Client or Fund Investor may consent in the future. Most of the information Polar collects comes directly from Polar Clients and Fund Investors through: the subscription process; client transactions; and meetings and telephone conversations with Polar Clients and Fund Investors. Typical data retained for each Polar Client and Fund Investor includes, but is not limited, to: address, financial information, date of birth, banking information, marital status and social insurance number. The information is collected and maintained in order to give Polar Clients and Fund Investors the best possible service and allow Polar to establish the client’s identity, comply with “know your client” requirements, protect from error and fraud, comply with the law and assess suitability for Polar’s investment products and services. Polar will limit the collection of Personal Information to that which is necessary for the identified purposes.
Unless advised otherwise by a Polar Client or Fund Investor, by providing Polar with their Personal Information Polar Clients and Fund Investors have consented to Polar’s collection, use and disclosure of your information as provided in this Privacy Policy.
Disclosure, retention, and accuracy Although Polar will seek to limit the collection of Personal Information, Polar may disclose Polar Client and Fund Investor Personal Information to third parties, when necessary, in connection with the services we provide related to their subscription in Polar Funds, including:
- to financial service providers, such as banks and others used to finance or facilitate transactions by, or operations of, a Polar Client or Fund Investor;
- to other service providers, as necessary, such as accounting, legal or tax preparation services;
- taxation and regulatory authorities and agencies including to applicable securities regulatory authorities; and
- to identified third parties authorized by a Polar Client or Fund Investor (e.g. accountants, financial adviser, financial institution, beneficiaries).
Polar will retain Personal Information for the period of time necessary to fulfill the purposes for which the Personal Information was collected and the period of time required by law, including such period as may be required under Polar’s Record Retention Policy. Personal Information no longer required to fulfill the identified purposes will be destroyed, erased or made anonymous in a secure manner.
Subscribers in Canadian Polar Funds should be aware that the Canadian Polar Funds are required to periodically file reports with securities regulatory authorities, setting out the subscriber’s name and address, the class and series of units issued, the date of issuance and the purchase price of units issued to the subscriber.
Polar will endeavor to ensure that Personal Information will be as accurate, complete, and up-to-date as is necessary to fulfill the purposes for which it is to be used. We ask that you keep us up to date by promptly notifying us of any changes.
Safeguards Polar will take reasonable physical, electronic and procedural safeguards to protect all Personal Information against loss or theft as well as unauthorized access, disclosure, copying, use or modification by security safeguards appropriate to the sensitivity of the information. Access to personal information will be restricted to Polar Employees who have a need to know such information, when possible. All of Polar’s Employees are subject to confidentiality requirements to ensure that confidential information is not inappropriately utilized or divulged to any other person, except as required.
Openness, access, and recourse Polar will make readily available to individuals specific information about its policies and practices relating to the management of Personal Information.
Upon written request, Polar Clients and Fund Investors may access the Personal Information Polar holds to review the content and accuracy. Access to requested information will generally be provided within 30 days of the request being made. If Polar Clients and Fund Investors require more information, or have concerns, regarding Polar’s personal information management please contact Polar’s Privacy Compliance Officer at Polar Asset Management Partners Inc., 16 York Street, Suite 2900, Toronto, ON M5J 0E6 or 416-367-4364.
Polar may update this Privacy Policy from time to time. Updated versions will be posted to Polar’s website.
Making a complaint Please feel free to contact us via telephone (416-367-4364) or by mail with your questions or comments. If you have a complaint we invite you to speak to the Chief Compliance Officer or to submit the details of your complaint in writing at the following address:
Polar Asset Management Partners Inc. Compliance Department 16 York Street, Suite 2900 Toronto, ON M5J 0E6
In order to allow us to analyze your complaint, please include the following details when you contact us:
- Your name, contact information, and account number as well as the particular circumstances and details of your complaint, including all relevant dates.
- All relevant documentation, including details of meetings and/or discussions following those meetings that might clarify the situation.
We will acknowledge the receipt of your complaint in writing within 5 business days, giving you information about Polar’s complaint process, the steps to take your complaint to OBSI, contact information for OBSI and any other options available to resolve the complaint. We will strive to address your concerns and settle your complaint fairly and quickly.
We will contact you in writing at the latest 90 days after our investigation begins detailing the results and conclusions of our inquiry as well as the options available to you if the problem has not been resolved to your satisfaction.
If you are an investor in one of the funds managed by Polar purchased through an investment advisor at a securities dealer, the responsibility for suitability of investments rests with that securities dealer. Therefore, in such cases, you must contact them with respect to any complaint you have about your investment.
Statement of policies Polar is registered under applicable securities legislation as an investment fund manager, portfolio manager, and exempt market dealer.
A person or company is connected to another person or company, if due to its relationship with such person, a prospective purchaser of securities of the person or company might question the other person or company’s independence from the first person or company. Canadian securities laws require securities dealers and advisers, when they trade in or advise with respect to their own securities or certain other issuers to which they, or certain other parties related to them, are related or connected, to do so only in accordance with particular disclosure and other rules. Polar manages and/or advises the following Polar Funds which are distributed in Canada: Polar Long/Short Fund (Canada), Polar Long/Short Fund (Canada-I), Polar Multi-Strategy Fund (Canada), Polar Multi Strategy Fund (Canada-I), Polar Multi-Strategy (Partners) Fund LP, Polar Micro-Cap Fund and Polar Micro-Cap Fund II L.P. (collectively, the “Canadian Polar Funds”) and as such the Canadian Polar Funds may be related or connected issuers of Polar. Polar may, from time to time, advise its clients with respect to the purchase and sale of Canadian Polar Funds or any other issuers which may, from time to time, become related and/or connected issuers, but will only do so if: (i) it discloses the relationship or connection to the Canadian Polar Fund; (ii) it considers the purchase or sale to be in the clients’ best interests; and (iii) the purchase will not give rise to a duplication of advisory or management fees.
Accessibility for Ontarians with Disabilities Act (AODA) Polar is committed to providing an accommodating and inclusive environment for all individuals including our clients/customers, employees, job applicants, suppliers, and any visitors who may enter our premises, access our information or use our services. As an organization, we respect and uphold the requirements set forth under the Accessibility for Ontarians with Disabilities Act (2005), and its associated standards and regulations.
Polar has developed a Multi-Year Plan and certain policies and procedures to meet our obligations under the AODA. Our Multi-Year Plan and Accessibility policies are available for your review.
To review a full version of Polar’s Accessibility policies, please click here.
To review Polar’s Multi-Year Plan, please click here.
To review Polar’s Individual Accommodation Process, please click here.
Clients who wish to provide feedback on Polar’s on the services provided to clients with disabilities can access Polar’s Client Feedback form here.
Should you wish to access these documents in a different format, please contact: Compliance Department, (416) 367-4364, polarcompliance@polaramp.com.
The following disclosure pursuant to Articles 3, 4, and 5 of the EU Sustainable Finance Disclosure Regulation (2019/2088) (SFDR) is applicable to Polar Long/Short Fund as of November 2022
Sustainability related disclosures
Polar Asset Management Partners Inc. (“Polar”) acts as investment manager to one or more funds (the “Funds”) registered for marketing under the Alternative Investment Fund Managers Directive (2011/61/EU) (the “AIFMD”) in one or more member states of the European Economic Area (“EEA”) and, as such, Polar is required by the Sustainable Finance Disclosure Regulation (Regulation 2019/2088) (the “SFDR”) to make certain disclosures on its website, including information about Polar’s policies on the integration of sustainability risks into its investment decision-making process; its approach to adverse sustainability impacts; and the consistency of its remuneration policies with the integration of sustainability risks. For these purposes, sustainability risk means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.
No consideration of sustainability adverse impacts
As the Funds are not designed to have an environmental, social and governance (“ESG”) focus and as the Funds’ investment objective is to generate consistent positive absolute returns, with low volatility and low correlation to the equity market, Polar does not consider adverse impacts of investment decisions on sustainability factors for the purposes of the SFDR. However, Polar will not knowingly contravene Canada’s Prohibiting Cluster Munitions Act (which implements the UN Convention on Cluster Munitions (2008)) by directly providing equity or debt financing to businesses that manufacture cluster munitions. Polar acknowledges that the pursuit of the Funds’ investment objective may, in some circumstances, have an adverse impact on sustainability factors.
Policies on the integration of sustainability risks into the investment decision-making process
Sustainability risk disclosures
Sustainability risks can be relevant to a variety of sectors and may directly impact on the rates of return of an investment. Polar believes that the long-term success of the Funds is positively impacted by a thoughtful and adaptive approach to ESG factors and initiatives. As such, Polar maintains policies and procedures to integrate ESG considerations at both the firm level and within the investment process. Polar has an ESG Policy in place to guide this integration.
Polar is of the view that that poor outcomes in respect of sustainability considerations can be indicative of an investment’s susceptibility to longer term sustainability risks. To the extent that long term investments are made to finance a company’s future growth, Polar therefore may, but is not required to, consider companies that are ethically, environmentally and/or socially responsible.
Investment decision making process
Polar seeks to integrate sustainability risks into its investment process by assessing such risks to complement its fundamental research and investment analysis.
When considering prospective investments, Polar may, if deemed appropriate by the relevant investment professional and taking account of Polar’s ESG Policy, consider the potential impact of sustainability risks on the prospective financial performance of a proposed investment. As part of its assessment, Polar seeks to understand how ESG investor flows impact supply and demand for particular sectors and securities. In addition, Polar creates watch lists of companies that exhibit sustainability risks and uses an internal restricted list of securities that flags businesses that it believes are at risk due to ESG and other related factors that harm humanity.
Polar also conducts analyses to study the differences between companies that take differing approaches to social and economic factors within their business operations.
However, Polar does not screen or eliminate investments based solely on ESG factors and such aims remain secondary to the Funds’ investment objective of generating consistent positive absolute returns, with low volatility and low correlation to the equity market. Accordingly, Polar is not obliged to invest in ethical, environmentally and socially responsible companies and, for the avoidance of doubt, Polar does not incorporate ESG considerations into its broader investment process in a manner that would reduce the expected returns of the Funds.
The relevant elements of Polar’s sustainability risk analysis and the potential impact of such risks on a company’s value and performance will vary by investment depending on, among other things, the type of company, asset class, sector or industry, and the nature of a company’s business and jurisdiction in which it operates. Polar considers that a degree of flexibility is required in its approach to sustainability factors. Polar will therefore consider and apply its ESG approach on a case-by-case basis and remains engaged in researching and developing its investment process.
Sustainability risks consist of one category of risk among others taken into account by Polar. Polar’s goal is to analyze and measure sustainability risks in the same way it assesses all other risks at the portfolio level. In doing so, Polar takes care not to unduly overweight sustainability risks to the detriment of normal risk analysis.
Consistency of remuneration policies
The remuneration policies applicable to Polar’s investment professionals are consistent with Polar’s approach to the integration of sustainability risks into the investment decision making process. As sustainability risks are a type of financial risk, Polar acknowledges that failure to consider such risks could have an adverse impact on the performance of investments and the performance of funds advised by Polar.
Pursuant to the remuneration policies applicable to Polar’s investment professionals, Polar awards fixed and variable remuneration to its investment professionals. Variable remuneration is awarded on a discretionary basis and takes into account the performance of an individual employee, the funds advised by Polar and, in certain cases, the overall financial performance of Polar. Accordingly, to the extent that sustainability risks have an adverse impact on performance of funds advised by Polar, this is likely to be reflected in the overall level of variable remuneration awarded to Polar’s investment professionals.
Disclosure requirements to AIFMD: The current estimated NAV for Polar Long/Short Master Fund is: $754,359,911 (March 31, 2024). For the historical performance of Polar Long/Short Fund, please log into Polar's Investor Portal.