Polar Capital sees 42% AUM jump on Japan inflows

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The amount of money managed by Polar Capital has surged by more than 40 per cent after strong inflows into its Japanese, US and healthcare funds, its latest results show.

According to Polar’s preliminary group audited results, assets under management reached £4.58bn by 31 March 2013 – a 42 per cent increase on the £3.23bn reported one year earlier.

The group witnessed net subscriptions of £1bn over the 12-month period with £988.7m of this going into its long-only funds.

The Polar Capital Japan fund’s AUM, including managed accounts run off the same strategy, rose from £965.8m to £1.5bn, the Polar Capital North American fund went from £87.3m to £405.6m and the Polar Capital Healthcare Opportunities fund moved from £106.3m to £247.1m.

Polar chairman Tom Bartlam says: “Interest in Japan picked up markedly after the changes in policy there and we saw significant inflows into our award winning Japanese fund. Flows have continued to be strong in the opening months of our new financial year. We are also starting to see some inflows into our Japan Alpha fund, which we launched in November.

“Although Japan has been the ‘stand out’ in terms of inflows, we also saw strong flows into a good number of our other long-only funds including North America, Global Emerging Markets Income, Healthcare Opportunities and Global Insurance.”

The group’s pre-tax profit rose to £15.3m, up from £9.6m one year previously. Dividends for the year were up 44 per cent, moved from 9p a share in 2012 to 13p a share.