Polar Capital's core profits increased by 81% in the six months to end of September from £12m for the same period last year to £21.7m, after the group's healthcare fund managers took the decision to crystallise their preference shares earlier this year.
The crystallisation, which means the managers forego their profit share in return for receiving Polar Capital equity, took effect from 1 April 2018, but was announced to the market in October. As a...
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