Polar Assets Up Despite Hedge Fund Outflows

Jan 14 2011 | 11:09am ET

Last year was anything but chilly for Polar Capital. In fact, things are positively frothy at the London-based hedge fund—no thanks to those hedge funds.

The firm said assets under management rose 40% in the last nine months of 2010 to US$3.5 billion. Polar credited nearly US$600 million in net inflows to its long-only funds and the acquisition of long-only manager HIM Capital and its US$249 million in assets for the growth, as well as currency movements, which chipped in a further US$277 million.

In fact, Polar's hedge funds were something of an albatross, with outflows of US$122 million. Just last week, the firm said it would shutter its global macro Discovery fund.

The asset growth and strong performance pushed Polar's performance fees up 143% to £5.6 million.

"The group remains confident that its strategy of growing its established funds to capacity and expanding its product range through both hiring and acquiring new teams will continue to drive future AUM growth," Polar said.

The firm's fiscal year ends in March. In the fiscal year ended last March, Polar posted £3.1 million in pre-tax earnings as assets under management rose by two-thirds to US$2.5 billion.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.