Polar Capital’s assets under management (AUM) were up 40% over the nine months to the end of last year, although investors withdrew 13% of its hedge fund assets.
Investors withdrew $122m (£77m) from the $955m hedge fund business, causing its AUM to dip to $851m after fund performance was factored in.
But this was offset by $259m added through performance and currency movements in Polar’s $1.58 billion of long-only funds, long-only inflows of $572m and an extra $249m boost from the acquisition of financials specialist HIM Capital. (article continues below)
Overall, funds under management rose from $2.5 billion to $3.5 billion.