Polar Assets Bounce Back

Dec 15 2010 | 1:43am ET

As the weather turns colder, Polar Capital is heating up.

The London-based hedge fund and asset management firm said that its assets under management increased by 6% in October and November. The firm's assets are up some 32% since March, when they had fallen to US$2.5 billion, and investor outflows continued through September.

Polar once managed US$4 billion. With increased inflows, especially into its long-only products, and strong investment performance, the firm is back up to US$3.3 billion.

Its hedge funds are lagging its long-only products, but even there Polar is seeing the beginnings of a turnaround. CEO Tim Wooley told Reuters that the firm's hedge funds are enjoying "marginal inflows," even as investors continue to pull money from its $80 million macro fund.

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