Wed, Jul 29, 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. Bridgewater turns bearish on China[more]

    Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials.

  2. Launches - Ex-Brevan Howard star Rokos builds team for new fund, Former Och-Ziff manager’s firm starts health care hedge fund, Industry veterans launch commodity investment firm Aron Capital Management, Nikko Asset Management launches two UCITS funds, Capital Group plans to debut Asian investor targeted fund[more]

    Ex-Brevan Howard star Rokos builds team for new fund From WSJ.com: Chris Rokos, a former star trader at Brevan Howard Asset Management LLP, has hired an economist from Nomura to join the team he’s assembling for his much anticipated hedge fund launch. Mr. Rokos, whose firm is due to b

  3. Institutions - Pension fund dismisses Texas consultant, Rhode Island pension fund gets 2.2% investment return, far below assumed rate of 7.5%, New Jersey pension investments see a drop-off in returns[more]

    Pension fund dismisses Texas consultant From Sandiegouniontribute.com: The county retirement board on Thursday terminated the Texas consultant who was given the reins of the $10 billion pension fund, and whose investment picks left many employees and retirees feeling taken for a ride.

  4. SWFs - Sovereign wealth funds paid around $14 billion in fees[more]

    From SWFinstitute.org: When it comes to the financial sector, asset management is one of the most profitable industries in the world. The Boston Consulting Group put out a 2014 figure saying there is US$ 74 trillion worth of professionally-managed assets. One of the fastest growing institutional inv

  5. Investing - Carlyle teams with TCW in push for ordinary investors[more]

    From Bloomberg.com: Carlyle Group LP isn’t backing down from its goal of offering alternative strategies to the masses, despite early setbacks. The Washington-based firm is teaming up with TCW Group, which is majority owned by Carlyle funds, to offer three vehicles that give ordinary investors acces

 

banner