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Polar Capital buoyed by 83% asset boost

Polar Capital buoyed by 83% asset boost

Polar Capital has posted an 83% asset rise over the past 12 months.

At the end of March assets stood at just over $13.2 billion (£7.9 billion), up from $7.2 billion last year. Over the first quarter asset growth was slower at just 2%. Net inflows over the three month period were over $750 million across its fund range, which the group noted offset the impact of adverse market movements. 

Over the 12 month period Polar Capital saw net inflows of $4.9 billion into its long-only range, countering a $252 million outflow caused by the closure of the the specialist asset manager's UK team. The firm's alternative funds fared less well, up just $97 million over the period at $934 million. 

The group commented: 'Markets have made an uncertain start to 2014 but assuming they do not deteriorate from recent levels we remain well positioned to continue to grow our assets and profits further in our new fiscal year.'

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