Saturday, 1 August 2015
Last updated 11 hours ago
Apr 19 2011 | 12:46pm ET
Polar Capital said today that its assets under management rose by 10% in the first quarter.
The US$268 million in inflows and US$181 million in performance gains helped push Polar ever-nearer to its pre-crisis asset level of almost US$4 billion. The firm managed US$3.875 billion at the end of the first quarter, it said, 53% more than it managed a year ago.
But the firm's gains were confined to its long-only products; Polar's hedge funds actually lost about one-fifth of their assets after the firm shuttered its global macro Discovery fund in January.
That move "accounted for a significant proportion of outflows in our hedge fund franchise over the reported period," Polar said.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…