Polar Capital sees profits double to £41m; Plans Paris office

Performance fees at record high

Laura Dew
clock • 3 min read

Polar Capital has seen pre-tax profits more than double from £20.4m to £41.3m as performance fees reached their highest ever level, while the company is also seeking an office in Paris post-Brexit.

In its full-year results for the year to 31 March 2018, Polar said the increase in profitability was due to a combination of market uplift, fund performance, performance fees, net inflows and investment gains on seed capital. Net retained performance fees, after deducting the fund managers' shares, amounted to £15.3m compared to just £1.2m the prior year. The firm said performance fees were the highest in its 18-year history. In the first full-year results since the appointment of Gavin Rochussen as chief executive last July, assets under management increased from £9.3bn to £12bn over...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Navigating a new era for investing

Partner Insight: Navigating a new era for investing

Across the developed world, inflation is back and here to stay, says Wellington Management’s John Butler.

Sarka Halas
clock 13 March 2024 • 2 min read
Partner Insight: Should investors go global for more impact?

Partner Insight: Should investors go global for more impact?

Global investing offers scope for broader social impact as well as financial returns.

Sarka Halas
clock 11 March 2024 • 1 min read
Women in Investment Awards winner interview: Omotunde Lawal from Barings

Women in Investment Awards winner interview: Omotunde Lawal from Barings

Supporting the next generation

Katrina Lloyd
clock 07 March 2024 • 1 min read
Trustpilot