Polar Capital AUM surges 42% as markets provide boost

Specialist fund manager Polar Capital has seen assets under management surge in the last 12 months, rising by over 40% as inflows into Japan and climbing equity markets provide a boost.

The group, which boasts a number of specialist mandates including its Healthcare Opportunities fund, said AUM had climbed from $5.1bn to $7.2bn in the last year. Areas which stood out for the group include Japan, where its UCITS fund grew from $1.5bn to $2.4bn. As a result of the growth of its AUM, pre-tax profit climbed sharply from £9.6m in 2012 to £15.3m. The group ahs also raised its dividend by 44% to 13p per share, which includes a second interim dividend of 11p to be paid later this year. Tom Bartlam, chairman of the group, said strong inflows into many funds and a sustai...