polar capital bucks trend with rise in aum

Polar Capital’s interim results show an uplift in profits as well as assets under management.

polar capital bucks trend with rise in aum

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Assets under management for the six months to 30 September, 2011, grew by 2% to $3.94bn (£2.5bn) from $3.86bn at the end of March. This is up by 8.6% on its position a year ago of $3.1bn.

The firm currently runs 18 funds and 5 managed accounts, the most recent addition of which is the North American Fund launched in November that has attracted $75m to date. The fund is run by Andrew Holliman and Richard Wilson who joined from Threadneedle in mid-August.

Over the past 12 months, profits more than doubled from £2.3m at the end of September last year to £4.8m this year.

Basic earnings per share have also more than doubled, from 1.89p to 3.91p.

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