Polar Capital is looking to expand its number of investment teams, adding it has been encouraged by "unsolicited approaches", after nearly doubling assets under management in its last financial year.
The asset manager reported a healthy set of results for its financial year, with net inflows every quarter over the financial year to 31 March 2014. In total, net inflows leapt 83%, to $13.2bn.
However, that trend reversed over the subsequent three month period, Polar said, with net outflows of roughly $300m reported for the first quarter of the 2014-15 financial year.
Despite the outflows, chief executive Tim Woolley (pictured) said the fund manager now aims to expand once more- particularly given the number of teams actually fell last year due to the closure of its UK equity desk.
"Our strategy set a limit of twelve investment teams, so we still have scope to increase our team count by a third and remain true to the original strategy."
He added: "After an eighteen month period of consolidation in terms of team numbers, we are now actively looking to make additions again. We are encouraged by the number and quality of unsolicited approaches we are now receiving from managers across a variety of strategies as our profile continues to increase within the industry."
The fund manager reported a pre-tax profit of £32.7m, compared to £15.3m in 2013. It attributed the strong year to the strength in most major global equity markets, as well as the popularity of its Japanese funds.
Chairman Tom Bartlam said: "By the end of our financial year, the Japanese team was managing assets in excess of $5bn - this was the first time in our history that a team has reached $5bn in assets.
"This is testimony not only to the team and its approach and performance record but also the success of our investment into distribution and client service over the last five years."