Polar Capital has watched its assets under management rise more-or-less steadily over the past year. But for the first time in that period, inflows to its hedge funds are contributing meaningfully to the growth.
The London-based firm saw hedge fund inflows for the second-straight quarter, helping its assets under management grow by 4.3% to US$5.3 billion. Inflows into both hedge and long-only funds were US$31 million in the third quarter.
"Positive net inflows into the group's hedge fund products, which started in the previous quarter, continued to gain momentum in this quarter," Polar said. "Importantly, these flow patterns further enhance the continued diversification of the group's offerings, as well as reducing the firm's legacy concentration risk."