Wednesday, 10 February 2016
Last updated 7 hours ago
Jan 15 2013 | 12:07pm ET
Polar Capital’s assets under management rose by almost half last year to more than US$6 billion.
The London-based hedge fund’s assets rose to US$6.02 billion as of Dec. 31. Most of the increase came in Polar’s long-only funds, which took in US$842 million. Its hedge funds, which finally began seeing inflows again last year, added only $81 million in new money in the last nine months of 2012—but whereas Polar’s long-only funds lost US$19 million during the period, the hedge funds earned a tidy US$34 million profit.
All told, Polar’s hedge funds account for US$833 million of the firm’s assets.
“It is encouraging to report that the positive flows have continued with a further US$518 million of net inflows being received in our third quarter, across a range of strategies, taking the year-to-date net inflows up to US$932 million,” Polar said. “Assuming market conditions do not deteriorate, we are well-positioned to continue to grow our AUM in 2013.”