Digital Assets Report

Newsletter

Like this article?

Sign up to our free newsletter

Polar Capital sees assets fall 22 per cent since March

Related Topics

Polar Capital Holdings, the specialist asset management group, says that as at 31 December 2008 group assets under management have fallen 22 per cent since 31 March 2008 to USD2.45bn.

Polar Capital Holdings, the specialist asset management group, says that as at 31 December 2008 group assets under management have fallen 22 per cent since 31 March 2008 to USD2.45bn.

The firm says that despite the encouraging net inflows received into Polar Capital’s funds in the first nine months of its financial year, the effect of the maelstrom that has struck the industry in the final quarter of 2008 will produce an expected USD500m of redemptions in the group’s final quarter.

In addition to these redemptions, the recent announcement of the resignation of Julian Barnett (photo) will account for a further USD400m of outflows as the Paragon Fund is wound up.

Investors in the Paragon Fund will be given the opportunity to reinvest in Polar Capital’s other hedge funds.

The firm says five of its hedge funds are in a strong position to attract assets, with four bucking the industry trend and making money in 2008.

Like this article? Sign up to our free newsletter

FEATURED

MOST RECENT

FURTHER READING