Tuesday, 5 May 2015
Last updated 6 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…