Polar Capital is launching an emerging markets income fund to be managed by the team hired from Axa Framlington last year.

William Calvert is leading the team that will manage the fund, flanked by Neil Denman and Ming Kemp.

Calvert was at Axa Framlington until October last year when he departed after 13 years with the company, having run the Axa Framlington Emerging Markets fund since 2004.

He joined Axa Framlington from Rothschild Securities where he was part of the country fund broking team, having previously worked as a fund manager with Citibank. He is a graduate of Bristol University.

Kemp’s background was also in emerging markets, having focussed on Asian equity portfolios while at Axa Framlington.

Polar Capital has been looking at expanding its portfolio of funds outside of specialist areas since the acquisition of HIM Capital last year, which had developed a loyal investor following in specialist areas, particularly Financials and Healthcare.

The annual management charge will be 1.5 per cent for the retail share class and there is a performance fee of 10 per cent of any outperformance of the benchmark index (MSCI Emerging Market Total Return Index).