12 Dec 2011
Polar Capital has reported that hedge fund assets declined nearly 6% to $569 million in the six months to 30 September, but remained ahead of year earlier levels. The firm has recently launched a European Market Neutral fund to boost its hedge fund offering to four funds.
They also report total profit before share-based payments and amortisation of intangibles of $4.8 million during the same period, and AUM increase to $3.94 billion. Polar’s current AUM as at 30 November 2011 is up over 8.6% from 30 September 2011 to $4.28bn.
Polar’s strategy focuses on three key areas for growth - increasing fund flows in to existing products, launching new products as and when investment opportunities arise and attracting new investment teams through hiring or by acquisition.
They also report total profit before share-based payments and amortisation of intangibles of $4.8 million during the same period, and AUM increase to $3.94 billion. Polar’s current AUM as at 30 November 2011 is up over 8.6% from 30 September 2011 to $4.28bn.
“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 and its commitment to offer clients best in class teams and products,” said Tim Woolley, CEO. “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.”
Polar’s strategy focuses on three key areas for growth - increasing fund flows in to existing products, launching new products as and when investment opportunities arise and attracting new investment teams through hiring or by acquisition.
