Friday, 30 September 2016
Last updated 15 hours ago
Oct 22 2007 | 12:29pm ET
Hedge fund asset growth, which in spite of recent market troubles hasn’t missed a beat, will slow in the second half, one hedge fund executive posits.
Polar Capital CEO Mark Kary’s words conflict with those of the Man Group’s Peter Clarke, who earlier this month said he expected no “material” change in hedge fund growth.
In an interview, Kary said,“If there has been a very rapid inflow in the first half, then at the margin it will be a little bit slower for the second half—that’s generally for the industry.” But he added that there “will be pockets that prosper,” notably his own pocket, equity long/short.
“At the margin equity long/short should be a market-share gainer,” he said.
Polar Capital’s assets under management rose 13.8% in the six month ended Sept. 30. The firm now manages $3.88 billion, $2.21 billion of which is in equity long/short strategies.