Polar Capital doubles AUM in 12 months

Polar Capital's assets under management in long only funds grew by $449m (£274m) in Q1, while AUM more than doubled at the firm in the last year.

In an unaudited quarterly update released this morning, Polar Capital reported AUM of $3.1bn in long only funds and $3.8bn in total AUM including hedge funds. This compares with $2.65bn in long only and $3.5bn at the end of December 2010. The rise in flows echoes Jupiter's quarterly update yesterday where AUM rose £333m in Q1 alone to take AUM to £24.5bn. Over the past 12 months, Polar Capital's total assets increased from $2.53bn in March 2010 to $3.87bn in 2011, a 53% increase. The group said the increase was achieved despite the closure of the Polar Capital Discovery fund in the...