Polar Capital 

Polar Capital funds hit £10bn mark

Polar Capital funds hit £10bn mark

Polar Capital Holdings has released financial figures for the three months to the end of June, revealing a healthy growth in assets under management.  

The specialist asset management group has reported a rise in its assets under management from £9.3bn at the end of March to £10bn at 30 June 2107.

Of the total assets under management, £9bn were in long only funds, with the remaining £919m in alternative funds. 

On market movement and performance, long-only funds delivered £239m, with alternative funds contributing £14m, giving a total of £253m.  

Tim Woolley, CEO of Polar Capital Holdings, said: “"This update follows the group's recently released year end results in which we expressed our confidence in the trading conditions for the group.  

"A third consecutive quarter of net inflows continues the encouraging trend of the final two quarters of our last financial year. Inflows were seen across a broad range of our funds.

Mr Woolley also welcomed the appointment of Gavin Rochussen as his successor in the role of CEO.

He said: “I am pleased to be handing over the reins of the company to Gavin Rochussen who has such a strong pedigree of leadership in the asset management sector. I believe that I am handing over Polar Capital at a point when the Group is well positioned for future growth."