LUXEMBOURG (Reuters)- Fund boutique Polar Capital said it has been buying up mid and small-cap stocks from hedge funds forced into distressed sales, and sees further forced selling this year as tough conditions prevail.

The comments from Polar Chief Executive Mark Kary to the Reuters Funds Summit in Luxembourg come after a number of hedge funds have run into trouble as plummeting investor confidence has hit liquidity in some stocks, while tighter conditions from some prime brokers have forced some funds to sell.

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LUXEMBOURG (Reuters)- Fund boutique Polar Capital said on Tuesday it has been buying up mid and small-cap stocks from hedge funds forced into distressed sales, and sees further forced selling this year as tough conditions prevail.

The comments from Polar Chief Executive Mark Kary to the Reuters Funds Summit in Luxembourg come after a number of hedge funds have run into trouble as plummeting investor confidence has hit liquidity in some stocks, while tighter conditions from some prime brokers have forced some funds to sell.

Last week Netherlands-based GO Capital Asset Management said it had blocked investor exits from its 601 million euro (470 million pound) Global Opportunities fund for a year because liquidity has dried up in the small and mid-cap stocks it holds.

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