Hedge fund firm Polygon launches mining fund-source

LONDON, Sept 14 (Reuters) - UK hedge fund firm Polygon has launched a mining fund, said a source close to the fund, as it tries to rebuild its business after heavy losses during the credit crisis and profit from a sector some investors believe may have peaked.

The mining fund was launched quietly during the summer with internal seed capital, said the source, and will make bets on the shares of mining companies rising and falling.

Polygon declined to comment.