In March last year it held $3.88bn which had grown to $3.94bn by the end of September, an annual increase of 8.6%.
However, the overall rise was down to the strong net inflows to its long only range that made up for the $95m losses from its hedge fund asset pool.
Over the firm’s nine-month reporting period to the end of December its long only funds saw $889m of net new money although performance and currency movements contributed -$430m. Polar Capital’s hedge funds struggled on both counts with net new subscriptions of -$63m and -$32m thanks to negative performance and currency movements.
In total, net new money of $826m outweighed the -$462m thanks to poor performance/currency moves.
Chief executive Tim Woolley, said: “Despite the encouraging positive flows, given the ongoing uncertainty surrounding the European debt crisis, we continue to be cautious regarding the outlook for net inflows over the coming quarters.”
