Polar sees increase in total AUM, but fall in hedge fund assets


The latest quarterly update from Polar Capital shows an increase in the firm’s total assets under management over the past six months, to $3.94 billion at 30 September from the $3.88 billion reported at 31 March.

But while the firm’s long-only funds have seen net subscriptions totalling $706 million during this period, its hedge fund assets have shrunk to $644 million, compared with $771 million at the end of March.

The drop in hedge fund assets is down to net redemptions totalling $73 million, combined with negative performance and currency movements that cost the funds a further $54