Polar Capital’s assets keep steady in rough market
|June 27th, 2010||
|Despite recent market fluctuations, the assets of hedge fund management firm Polar Capital (LN: POLR) have remained steady. According to Reuters while the firm faced market losses of $150 million, client inflows held constant the firm’s $2.5 billion assets under management between March and May. This same period saw an 8.6% drop in the FTSE 100.|
In late 2007 Polar Capital managed $4 billion, but during the credit crisis the firm’s assets under management dropped below $1.5 billion. The firm has since also rebounded from market losses in May when the firm’s macro fund lost upwards of 5%.
Chief executive Tim Woolley stated that they expect markets to be adversely affected by economic and political factors up through 2011. Woolley also mentioned that Polar Capital was reviewing possible acquisition targets and could possibly add new investment teams later this year.
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