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Polar Capital sees AUM surge by 80%

Polar Capital sees AUM surge by 80%

Polar Capital saw its assets under management (AUM) rise by 80% over the last nine months of the year.

The fund group’s AUM surged to $13 billion (£7.9 billion) at the end of December, up from $7.2 billion at the end of March and a 14% rise on the $11.4 billion reported at September 30.

The bulk of the inflows went into Polar’s long only funds, which saw $4.2 billion of net subscriptions over the last nine months of the year with market movements and performance adding a further $1.8 billion.

The group received £7.5 million in performance fees over that period, up from £5.1 million in the last nine months of 2012.

In a stock market announcement, Polar said: ‘As we cautioned at the interim results, our net inflows for our third quarter  [Q4 2013], at just under $1 billion, were below the levels seen in the previous two quarters, although it was pleasing to see inflows continue across a wide range of strategies.’

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