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Polar Capital Holdings plc, a specialist investment management company head-quartered in London that offers long-only and hedge fund products, has just announced its assets under management (AuM) had gone up 2% in the 3rd quarter (Q3), to $3.94bn on 30 September 2011. A year before that, the firm’s AuM stood at $3.1bn. And AuM as at 30 November are up by 8.6% to $4.28bn.

The firm launched the North American Fund last month, and raised more than $75m for it. Richard Wilson, co-manager of new fund told FTAdvisor that the fund uses a bottom-up approach and that: "North America as a region has an unrivalled diversity of companies and, despite the tough economic environment, the number of attractive long-term investment candidates with both quality and value characteristics are plentiful." Polar also recently established a European Market Neutral franchise.

Tim Woolley, CEO, said in today’s interim results report: "The new North American fund and the decision to develop a European Market Neutral franchise for the Company marks the continued growth of Polar Capital’s business ... Our strong balance sheet and our increasingly diversified and enlarged product offering positions us well to face the ongoing uncertain macroeconomic conditions, which we expect in the near term to constrain future industry fund flows."

Most of Polar’s hedge funds saw outflow......................

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