View the article online at http://citywire.co.uk/wealth-manager/article/a728457
Polar Capital sees AUM surge by 80%
by James Phillipps on Jan 16, 2014 at 08:43
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.’
News sponsored by:
Today's top headlines
More about this:
Look up the shares
On the road
on Mar 07, 2014 at 13:36