View the article online at http://citywire.co.uk/wealth-manager/article/a745710
Polar Capital buoyed by 83% asset boost
by Danielle Levy on Apr 10, 2014 at 08:02
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.'
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.