Polar Capital sees AUM grow 20% as hedge funds suffer

Polar Capital's assets grew 20.6% to $3.05bn (£1.9bn) over the six months to 30 September, despite a difficult period for its hedge funds.

The group saw $283m of net inflows into its funds during the period. It also increased its assets by a further $249m through the acquisition of financials asset manager HIM Capital in a deal that completed late last month. Polar's $2.2bn long-only business received net subscriptions of $371m, with an additional $8m gained through performance and currency movements. The $849m hedge fund unit suffered $88m net withdrawals, and lost a further $18m through performance and FX moves. Polar is launching the Global Emerging Markets Growth fund next month for William Calvert, Ming Kemp and ...