polar capital funds grow despite knocks

Polar Capital saw its assets under management increase by more than a third year-on-year to the end of September.

polar capital funds grow despite knocks


At the end of September, the group’s assets under management grew from $5.08bn to $5.3bn, according to its unaudited quarterly results.

Its new net subscriptions grew by $405m, with $371m coming from its long-only funds and $34m in hedge fund monies.

Market movements and performance contributed $7m to its hedge funds though it also removed $193m from off its 12 long-only funds.
The 12 will shortly grow to 13 with the launch of a global equity fund currently being worked on. It will be run by Andy MacKirdy and Christophe Williams who joined Polar Capital in the summer.

Year-on-year, assets under management have grown by 34.5%, from $3.94bn at the end of September last year.

In a statement released to the Stock Exchange, the company said: “It is encouraging that, although there were market-driven outflows from some of the group’s larger long-only strategies, these were more than covered by inflows into a number of the group’s nascent long-only strategies.

“In addition, positive net inflows into the group’s hedge fund products, which started in the previous quarter, continued to gain momentum in this quarter. Importantly, these flow patterns further enhance the continued diversification of the group’s offerings as well as reducing the firm’s legacy concentration risk.”


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