Polar Capital CEO sells £1m stake in firm

Chief executive and co-founder of Polar Capital, Tim Woolley, has cashed in £1m worth of his shares in the firm.

On Wednesday, Woolley sold 500,000 shares of 2.5p each in the company from his personal holdings, for 200p per share, according to a London Stock Exchange statement. The director was taking profits following a significant boost to the firm's share price. Polar Capital shares have risen 56% over the last year to stand at 202p. Polar's assets under management have increased steadily over recent years, despite the economic downturn. It reported a 9% increase in its AUM in January at $4.24bn as of 31 December 2011, up from $3.88bn reported on 31 March 2011, with net inflows of $826m ov...