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Polar Capital AUM up 3.1 per cent

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Hedge fund firm Polar Capital’s assets under management rose 3.1 per cent to USD1.526bn in the three months to 30 June 2009.

Hedge fund firm Polar Capital’s assets under management rose 3.1 per cent to USD1.526bn in the three months to 30 June 2009.

This was Polar’s first rise since a wave of redemptions hit the sector over the last year.

Polar’s long-only fund rose from USD746m to USD847m.

In March 2008 Polar managed more than USD3bn of assets but then saw its assets halve as investors moved their money out of the hedge fund sector.

"It is encouraging to note that the anticipated drying up of redemption requests has materialised,’ the firm said. ‘The outflows in the first quarter of the financial year were predominantly those that had been submitted in the final quarter of the last financial year, during the three month period ending 31 March 2009. There are now some positive signs that the industry in general and Polar Capital in particular is beginning to see a change in sentiment as investors start to reinvest into both hedge as well as long only strategies.’

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