Fri, Jan 30, 2015
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. Opalesque Exclusive: Ex-Citi trader launches 'sleep-at-night’ long/short equity fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: After working at Citi's proprietary trading desk, managing a large portfolio between 2008 and 2011, Joel S. Salomon founded SalaurMor Management in New Yor

  2. Investing - U.S. investors favor currency hedged Europe ETFs as euro tumbles, Quants win back investors as Swiss franc fuels volatility gains, David Einhorn's $7bn hedge fund is loading up on this stock, Hedge fund BlueMountain Capital unveils Ocwen Financial short, claims default on notes[more]

    U.S. investors favor currency hedged Europe ETFs as euro tumbles From Reuters.com: U.S. investors stung by the falling euro who want to stay invested in Europe are turning to exchange-traded funds designed to strip out the impact of the region's currency. The biggest among so-called "cur

  3. News Briefs - Millennials use tech tools to jump into investing, Winklevoss twins to launch bitcoin exchange with FDIC insured deposits, Robertson’s legacy from hedge funds to New Zealand, Real estate managers exploring smaller open-end funds[more]

    Millennials use tech tools to jump into investing It is the Facebookification of monetary investing. From social networking platforms that enable young investors to stick to every other's stock-picking mojo, to internet sites for initially-timers hungry for a piece of the Silicon Valley

  4. Update: Prosecutors seek 12 years for hedge fund manager Francisco Illarramendi[more]

    Komfie Manalo, Opalesque Asia: Federal prosecutors have asked the court to sentence convicted hedge fund manager Francisco Illarramendi to 12 years imprisonment for running an elaborate Ponzi scheme that bilked investors hundreds of millions in dollars, including a Venezuelan pension fund, report

  5. Institutions - Ontario pension fund leader calls all asset classes ‘expensive’, Taiwan's BLF plans $2bn in alternative mandates[more]

    Ontario pension fund leader calls all asset classes ‘expensive’ From WSJ.com: The head of one of the world’s largest pension funds said that across asset classes, “everything is expensive.” Ron Mock, who leads Canada’s $141 billion Ontario Teachers’ Pension Plan, said that the plan would