Polar Capital AUM climbs 71% over past year

Polar Capital’s assets under management have increased 71% over the past year as the boutique sees strong inflows into its long-only and hedge vehicles.

The group's AUM has grown from $1.48bn to $2.53bn over the year to 31 March, aided by $663m of net inflows. Long-only funds attracted $410m, with the hedge funds taking in $253m.

Polar has had a strong start to 2010, with net inflows totalling $285m in the first quarter.

"It is pleasing to report that the AUM flows in the final quarter of the group's financial year have continued the trend of the preceding period, resulting in encouraging AUM growth of 71% from the end of the last financial year," Polar says.

"In the final quarter inflows have been greatest in the long only funds managed by the group.

"The group continues to believe that the good long and short term performance of its funds places it in a good position to attract further inflows in the months and quarters ahead assuming market conditions remain favourable."