Polar Capital, the specialist asset management group, said yesterday that its assets were up by more than a billion pounds, half due to net inflows and half due to market movement and perfomance after it closed underperforming funds.
The company now has £11.7bn under management, up from £9.3bn at the end of March 2017.
Polar Capital reported it had a satisfactory quarter with "pleasing net inflows" despite the termination of four underperforming funds during the quarter.
These fund closures included two in December - its Global Alpha Fund and its Emerging Market Growth fund.
The group's interim results, on 11 December, showed a pre-tax profit of £11.8m against £8.5m.
Gavin Rochussen, chief executive of Polar Capital, announced a shift in strategy at the time of the interim results.
He said: "While the ethos and philosophy of Polar will not change, there will be a strategic focus on diversification of fund strategies, client segments and client geography.
"We continue to search for top performing investment talent to manage funds that will complement the existing strategies."
