Polar sees overall AUM growth, drop in hedge fund assets


London-listed fund manager Polar Capital has issued a quarterly update that shows its total assets under management have grown to $3.87 billion at the end of March, compared with $2.53 billion a year earlier – an increase of 53% in 12 months.

But the firm’s growth has come from its long-only business, which has roughly doubled to $3.10 billion compared with $1.58 billion in March 2010. This included $947 million in net subscriptions, $333 million in performance and currency movements, and $249 million taken in as part of the acquisition of specialist financials investment boutique HIM Capital.