Sun, Dec 4, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Polar Capital AuM increase by 53% to $3.8bn, long-only funds gain, hedge funds lose

Tuesday, April 19, 2011

Tim Woolley
Opalesque Industry Update - On the back of performance and inflows, London-listed investment manager Polar Capital , which manages 16 funds and 5 managed accounts, ended the year in a better position than at the end of the previous twelve-month period.

The firm reported today an increase of 53% in its assets under management (AuM) to more than $3.87bn in the twelve-month period to March 2011.

AuM for its long-only funds went up from $1.57bn in March 2010 to $3.10bn in March 2011; and AuM for its hedge funds went down from $955m in March 2010 to $771m in March 2011.

“This increase in AUM was achieved despite the closure of the Polar Capital Discovery Fund, which accounted for a significant proportion of outflows in our hedge fund franchise over the reported periods,” the report said.

The Discovery fund, a Caymans-registered global macro hedge fund, closed in January 2011. The firm, preferring to cut its losses rather than risking the markets, returned all money to investors, suffering a small investment loss in the process.

Polar wants to continue expanding its product range through both hiring and acquiring new teams, which is expected to drive future AuM growth. The firm could not offer Opalesque further comment on this expansion plan.

Polar’s CEO Tim Woolley said in June last year that the firm was looking to acquire or recruit new teams and double its number of strategies by 2013, as consolidation in the sector increases.

So in September, Polar acquired HIM Capital Holdings Limited, a specialist long-only fund manager which had approximately $230m of AuM. And William Calvert and his Axa Framlington emerging markets team joined Polar Capital in October.

B. Gravrand

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  3. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  4. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released

  5. Hedge funds gain on Trump market rally, positive U.S. data[more]

    Komfie Manalo, Opalesque Asia: Hedge funds enjoyed meaningful returns in the week ending November 22, with the Lyxor Hedge Fund Index moving up 0.7% over the period (-1.6% YTD). From a broad perspective, all strategies ended the week on a positive note except for CTAs that ended flat. Event d